Hot Box Office, Cool Sales
The box office may be performing far better than the Dow, but you'd never know it from accounts about business at the Cannes Film Market, which is staged concurrently with the Cannes Film Festival. According to the British trade publication Screen Digest , buyers are "train[ing] their sights on completed [films] with broad theatrical appeal." There's general agreement that it's a buyer's market this year. Simon Crow of U.K.-based SC Films told Screen Digest "In this market, you've got to be realistic. No one will be overpaying." Daily Variety put its finger on the source of the problem "The hedge-fund-backed guys have fallen away." Several reports suggest that the funding fount for filmmakers has switched from them to investors in India and the Emirates.