The third edition of San Sebastian’s Creative Investors’ Conference was co-organised with CAA Media Finance and wrapped up lively notes at Mano A Mano between CAA Media Finance co-head Roeg Sutherland and 193 CEO Patrick Wachsberger on Wednesday, responsible for the relative merits of the US and Europe.
No one claimed that these were the best times. “We live in the times because it’s not so specific and difficult,” Sutherland said in a fireplace chat with Wachsberger. “You have it or don’t have it. If you hit a target, you’re doing the same thing you did in the pre-pandemic era. If you don’t hit it hard, there’s no parachute.”
This was a very useful cutting edge take in Europe and the US as other speakers laid it on issues from independent production to scale, to large-scale pre-sales, Latin, America and Africa.
Touching stone: Talent
“The most important thing is not the idea itself, it’s the people, the creators, that’s what really excites me,” Domingo Coral said. That was his core strategy as director of fiction and entertainment for Movistar Plus+. Now it becomes his Touchstone tactics as an independent producer. Companies, no matter how large, share the same talent-driven thinking. This is one of the only proven formulas for success since its launch by Gaumont in 1895. Christian Vesper of Fremantle said: Talent incorporates both producers and creators, he added.
scale
Scale questions threaded comments from many European panelists. “Right now, Europe has capital market access and a great power,” said Sebastian Laybaugh of Anton. “One thing that’s still lacking may be the scale of the project.” “It’s difficult to fund a film from Europe for $20-$25-$50 million,” says Rodolph Buett at Studio TF1. “If you compete for Cannes, Venice, or the Oscar, you’ll need to fund a budget of at least about $10 million. The film’s original Movistar Plus+ strategy was to provide creators and producers with enough resources to make bigger films.”
brand
One possible way, at least for some in the industry. “Brands such as fashion houses are beginning to make more important excellence in film funding. Observed by David Taghioff in library photos. “We realized that we can either pay as a marketer or acquire the same marketing assets, but we have a position of recovery and profit.” Brand involvement is also evolving. “Before on product placement, it’s now about the creative integrity that brands want to be associated with directors and specific themes,” says Robert Walak of Iconoclast.
Sales Business Challenges
In the heyday of roaring, pre-sales and output trading in the 1990s, Patrick Waxburger was able to cover 125% of the budget via bank finances and pre-sales. Those days will never return. One problem is that a very large US distributor is a pre-purchase or streamer who pays a fair license fee for one post-theater salary and two windows, AGC Studios Sturart Ford commented on Stepin at Locarno. “We put most of the film at risk because at the end of the day it’s likely that we won’t sell the US ahead of time,” said Laybaud of San Sebastian. “You look at all the major countries and you only have three distributors with really big and reliable capabilities,” says Wachsberger. “When you talk to these large distributors today, you’ll notice that they already have slates until 2027 or mid-2027,” he added. But there is a light at the end of the tunnel that you will soon reach,” Sutherland insisted. “The US market is turmoil, but by January there will be four new distribution companies.”
US Disadvantages: Costs and Tax Credits
Producers don’t just come to Europe for croissants and paella. The cost difference with the US is now dramatic. Fremantle’s Christian Vesper said in “Water Chronology” that in order to make Kristen Stewart’s feature debut, “we need to “minimise risk and gain more freedom.” Stewart imagined filming in Portland, Oregon. As the Baltic countries became international destinations, they were to film outside of Riga, Latvia. “There’s a bit of a problem in the US in that it’s very difficult to pay back tax credits,” Sutherland said. “Louisiana is difficult, and New York is impossible, coupled with the fact that making a film is even more expensive,” he added.
Collaborative production
Or collaboration. “Our clients still need huge local success and our audience wants local products,” said Elizabeth Dalvue of Media One. However, another way is for Media One companies to partner with production and, in some cases, joint IP acquisitions. She produced the European flagship title, The Count of Monte Cristo, Italian Palomar, DEMD productions, Media One company, and now Jean-Pierre Jeunet’s “Violette,” and partnered with 245 French films to coordinate Valérie Perrin’s literary sensation, “Fresh Water for Frowers for Frowers.”
Latin America, the future path
One Way: “Action,” “a genre that probably doesn’t look very similar to Latin America,” but “works very well,” Amazon MGM Studios quotes Andrés By’s gasoline smuggler thrillers “Pinpinero: Blood and Oil” and “Bed and Oil” in “Oil,” citing “Myen,” which was handled by Andon Eco. Again, “We have to grow in the $25 million range from a film size perspective.” “If we scale up, they’re distributed in Europe and make up a large part of the funding from Europe.” Some of the momentum could come from the private sector. MUV Capital’s Laura Rossi said that both the two most recent big box office revenues of both Oscar winners “I’m Still Here” and “A Dog’s Will 2” were made entirely in private finance.
More coming
