To envelop this year’s conference of creative investors at the San Sebastian Film Festival, four major executives from across the US or frequently worked were brought together to discuss new ways to emerge in the market and how to advance the industry.
Regarding the benefits and important differences between the US and European markets, Anton CEO Sebastian Laybaud said one of the important things that will change the balance of power between the two is that Europe now has access to capital markets. This reality wasn’t even far away 15 years ago. “Currently, Europe has access to capital markets with a lot of funds, and there are great powers with access to many talented producers.” Unfortunately, one thing Europe still lacks compared to its North American counterparts is the scale, with European projects still not landing major franchises, globally relevant IPs, and recurring mega budget productions.
However, according to Christine Vachon, founder and veteran producer of Killer Films, the American Bigger rules also have their downsides. “The very American thing is to grow your company as much as you can and sell it,” she continued. “We were a bit about that trajectory, it’s the capitalist system. Then, at one point we realised we didn’t want to grow the company. We wanted to make it as small as possible.
Many such people are proud to be “successful” than killer films now, but the producers don’t regret her strategy. “It keeps us in our company what we have full control. Am I the wealthiest of my colleagues? I’m definitely not. But I live a creative, professional life that’s exactly what I want.”
Tax credits are lacking and the process is long and complicated, but Vachon said the US model offers the important advantage of forcing filmmakers to engage with audiences. “In Europe, filmmakers don’t, and films don’t reflect that. The system helps to create a creative foundation for the kind of film we want to make.” Regarding the idea that labels like Killer Films don’t produce “commercial films,” he said, “Commercial films are films that make money. If you can make movies at the right price, sell them to the right audience and become truly a niche audience, you can make money.”
Robert Walak, head of film & TV at Iconoclast, provided another reason to be positive about the US market. The third transaction in Toronto announced that it had purchased a 7-digit total that was reported to have restarted its “cliffhanger” a few days ago. But in general, “In recent years, we’ve been wondering who’s going to intervene. It’s been very encouraging to see how the pendulum has returned to functioning and theatrical experience.”
Courtesy of Rafa Sales Ross
Another important story point during the conversation was the increase in the number of partnerships between production companies and major fashion labels. Saint Laurent (YSL) has created St. Laurent Productions, a subsidiary working on film projects, including Jim Jalmusch’s recent Golden Lion winner, “The Brother of Father’s Mother,” Pedro Almodovar’s “Strange Way of Life,” and Jacques Audiard’s “Emilia Perez.”
When asked if she would partner with a fashion label, Vachon said she was “a pretty agnostic.” “You want to give us money, we take your money. We work with directors who understand the ecosystem they work in, and we understand that if there is an opportunity for desires to clash positively, there is no reason not to pursue it.”
Vachon raised the question of whether working with key brands is totally different to cash rebate banks that define certain creative terms, such as having department heads from countries that provide relief. “These kinds of compromises are part of how these films work and how you get as many resources as possible,” she added. “The filmmakers and I need to understand that we can and cannot work. If you’re going to work for the YSL we explored, we haven’t come to projects with them or another fashion brand yet, but perhaps at some point.”
Wallach reflected the idea by stating in the past these partnerships were primarily focused on product placement, but now it is a matter of “creative cooperation.” “It’s about directors and brands you want to be associated with a particular theme. Now you can reach demographics in a non-aggressive way. For executives, this is a positive indication that there are more stakeholders interested in entering the film business. “It all goes back to this idea of (creative) community.”
