European Film Market Sees Dealmaking Rebound Post-Strikes for Splashy U.S. Packages and Select International Titles: ‘Everyone Needs Movies Again’

variety.com:

Elsa Keslassy International Correspondent As the European Film Market starts to unwind, the verdict is already in: Even if global economics are rocky, buyers are back and on the lookout.

This week, dealmaking has been happening on both star-driven packages as well as arthouse and foreign-language movies. In a sign that the theatrical business is rebounding, Sony just scooped a pair of splashy packages: “Materialists,” Celine Song’s follow up to “Past Lives,” and “Big Bold Beautiful Journey” starring Margot Robbie and Colin Farrell.

Another hot package, David Mackenzie’s heist thriller “Fuze,” headlined by Aaron Taylor-Johnson, is also close to selling. Movies competing at the Berlin Film Festival are also expected to secure U.S.

deals, notably “La Cocina” starring Rooney Mara, and opening night movie “Small Things Like These” with Cillian Murphy. Scott Shooman, head of AMC Networks, which encompasses IFC Films, says he’s seen the mood of sales agents brighten after a “tough” American Film Market in 2023. “I think the strikes, whether directly or indirectly, just inhibited people’s ability to do the downstream sales operations, so it was nice that there was optimism here for the first market in a little while,” Shooman says. “We’ve seen Sony buying a couple movies and we’re going to see some other studios buying other films,” he adds. “Whether it’s a streamer or a traditional studio, I think there will be other sales that occur that show everyone needs movies again and is trying to find the right product.” The executive, who is a Sony alumnus, pointed out “markets often have correcting abilities, meaning the market establishes the right price to make a movie.” He suggested, however, that some projects might not sell here.