Fan Fare

Entertainment behind the scenes

At Cannes — It’s not all stars. It’s show BUSINESS, too.

May 19, 2009

FILM-CANNES/Sure, Penelope Cruz will be on the Cannes film festival’s red carpet, and Brad Pitt will be there too. But the festival is not all big stars and glamorous premieres. There’s real business that goes on, too. Buyers and sellers of rights to independently made movies — those made outside Hollywood’s major studios — meet up to do deals.

For the past few years, the indie film business has been in a funk as a glut of expensive movies failed to do big box office and, more recently, the global financial crisis dried up financing to make movies. But major players here say tough times could be nearing and end. While film promotional parties are down, the ranks of company staffs in Cannes are thinner, and restaurateurs and hoteliers have said business is down some 30 percent, many company executives say they have been pleased with the amount of business that has been done.

To read the Reuters story on the business of Cannes ’09, click here.

For a video tour of the film market’s convention floor — not the glam red carpet — click below. And stay until the end of the video because Jonathan Wolf, executive vice president of the Independent Film and Television Alliance, offers two comments on Cannes’ current business climate and a look ahead to this fall’s American Film Market in Los Angeles.

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