Marking an important new chapter in the 21st edition, the Zurich Film Festival presents the most anticipated film’s powerful choice of the year under a new ownership structure that promises to ensure the growing role of events in the city.
Swiss newspaper group NZZ, which owned ZFF for the past decade, sold it to festival director Christian Jungen earlier this year. Christian Jungen led an investment team that includes ZFF’s associate director Leta Gutz, entrepreneur and television host Max Lun, former President ZFF E. Muller and financial expert Malek Scateta.
The group aims to further establish ZFF as a major European festival through strategic partnerships with national and international players, including new private partners, and to expand support from foundations, donors and public institutions.
While NZZ will remain an important partner for ZFF for another three years, festival independence is seen as an opportunity to attract new key supporters, Jungen says.
Political considerations, particularly in the current climate, played a key role in the decision to sell the NZZ festival, Jungen explains. As a conservative, right-leaning liberal newspaper, “They are very polarized and the newspapers have very strong opinions on a variety of subjects, which made them feel that they were preventing them from developing festivals.”
As a result, the festival “had a risk of collateral damage on a bigger political topic, so they wanted to sell it,” he adds, emphasizing that NZZ will remain a major partner for another three years. Other major sponsors for the festival include Swiss Bank UBS and German automaker Mercedes-Benz.
“I felt that the best thing to do was have continuity,” Jungen says. “It’s very important that the festival is run by people on the ground, not by anyone on another continent. That’s why we bought management teams.”
“The response was overwhelmingly positive,” he added, noting that his team received considerable financial support from wealthy individuals who were eager to support the venture, as they view the festival as a major event. But these supporters said, “Why do they need my contribution?”, it was carried out independently and made it easier to raise and run a fund in an entrepreneurial way. ”
Going forward, Jungen aims to secure new private partners and expand support from the foundation, donors and public institutions. Currently, federal, regional and local governments contribute to a total of 1.3 million ($1.6 million), less than 10% of ZFF’s annual budget of 14 million.
“This isn’t a typical festival like Cannes or Berlin. It’s state-funded. We are funded by more than 90% by private companies. Our biggest sponsors are UBS, Mercedes and NZZ.”
Being independent can facilitate contributions from private sponsors, “Entrepreneurial Love” foundations and wealthy people. “So it’s good to be on ourselves now.”
ZFF is also looking to secure more funding from the city of Zurich, which currently offers 500,000 CHFs per year for the fest.
“We have the name Zurich in our title. We are the Zurich Film Festival,” pointed out Jungen. “A lot of people come to Zurich. There’s an image component in the city. So far, we’ve got half a million Swiss francs. That’s really a very low amount.”
He points out that the city government was run by political parties on the left, but had previously shown little interest in supporting more of the festival, taking into account ownership by the NZZ group on the right.
With the new political independence, the festival expects greater support from the city will be much easier.
Jungen is looking to work further with other international festivals as part of ZFF’s overall strategy.
“There’s the Big Five, Cannes, Venice, Toronto, Berlin, Sundance, and the rest is like one league. If you network with other festivals from other continents, share your intelligence and approach big global sponsors and brands, you have a better chance of getting sponsorship.”
He compares the strategies seen in professional sports, including its global partnership with Emirates’ tennis association, including sponsorships for around 60 tournaments around the world.
“Let’s say you’re a network of five festivals and approach such brands. They can do something in different seasons on different continents, so you have a chance to get a higher chance.
