Independent film sector on the mend, according to AGC Studios' Stuart Ford at Locarno, stating optimism towards a streamlined, more financially stable independent sector.
Ford Advocates for Pre-Buy Model and Fairer Streaming Fees at Locarno Festival
Stuart Ford, the chairman and CEO of AGC Studios, called for a return to pre-buy models in the U.S. distribution industry during a keynote speech at the Locarno Festival's StepIn think tank panel. Ford argued that the current system discourages risk-taking and limits upfront financing, which is crucial for independent productions' viability.
In his speech, Ford also emphasized the need for streaming platforms to pay more equitable license fees for post-theatrical windows (Pay 1 and Pay 2). He stated that the current undervaluing of independent films by streamers undermines sustainable revenue streams for filmmakers and distributors. More equitable fees would reflect the true value of content in these windows and ensure fair compensation.
Ford's speech touched on the bloated independent marketplace, likening it to a need for a "Ozempic" (a metaphor for slimming down) to reduce overcrowding. The sheer volume of independent films, Ford argued, dilutes market attention, making it harder for quality films to find financial backing, appropriate distribution, and audience visibility. A leaner marketplace, he suggested, would promote healthier competition and greater commercial and artistic success for selected projects.
The panel, which gathered 50 European players, including financiers, producers, sales agents, fest heads, and distributors, was also attended by Berlin Festival Director Tricia Tuttle and Ed Guiney, the co-founder and co-CEO of Element Pictures. Guiney, who previously called for policy levers to facilitate more ambitious films being made in Europe, argued that plowing more public money into development could attract private sector investment. He mentioned Fremantle and Pathé as potential active players in the market, which could lead to proposals for private investors.
Guiney also returned to the topic of Europe making more ambitious, bigger-budget movies. He stated that Europe needs to invest more in development to create the very best content. Tuttle, on the other hand, argued that public investment should support distribution and exhibition to ensure films can be seen. She reflected that 95% of programming will struggle to get into cinemas, good distribution, and build an audience.
Ford also commented on the growing disconnect between the commercial side of the industry and festivals, which Tuttle echoed. Ford stated that if streaming platforms don't pay fair market value for films, they may be supplanted by others. Tuttle argued that there needs to be a bridging of this gap to ensure the success of the independent film sector.
The Locarno Festival's StepIn think tank, launched in 2012, aims to discuss solutions for the independent industry's most pressing concerns and find practical solutions. The panel was one of many discussions that took place during the festival, focusing on the future of the independent film industry and the challenges it faces.
Ford's call for a return to pre-buy models and fairer streaming fees, along with Guiney's arguments for more public investment and European ambition, sparked a lively debate among the panelists and attendees. The discussions will likely continue as the independent film sector navigates the rapidly changing landscape of the digital age.
Read also:
- Deepwater Port Construction Permits for Projects within the South Central Region's Air Regulations
- Citizen Thekla Walker, Minister, urges: "Let's face our responsibilities at home"
- Editorial Correspondence: Justifying the Elimination of a Program Earmarked for Reducing Our Own Carbon Footprint?
- Parliamentary proceedings in Germany's Bundestag this week
