Cannes Film Festival 2011
Entertainment Department head Gary Concoff again co-chaired the International Film Finance Forum held in Cannes on May 13, 2011.
Under the theme of "Utilizing Global Financing, Risk Mitigation, and Distribution Strategies," the Forum brought together the industry's most seasoned financiers, executives, and advisors from around the world. The agenda covered a wide variety of topics, including:
- International financing and joint ventures
- The state of the film industry on a global scale
- Risk mitigation using technology
- Solutions for incentives and tax credit woes
- Creating content that reaches a wider audience
- Effective sales, marketing, and distribution strategies
- Monetizing on electronic delivery worldwide
Noting a number of positive developments, panelists pointed to a genuine uptick in worldwide market activity, particularly in the U.S., which has once again made its presence felt in recent markets, such as Toronto, Sundance, and SXSW.
The improving health of the industry can be attributed in some measure to more generous tax incentives in place throughout the world. Puerto Rico's 40% incentive for local expenditures is complemented by a cap which has been raised from $15 million to $50 million. Other positive signs came from Europe, where new incentives have recently been announced or implemented in Serbia, the Czech Republic, Hungary, and Croatia.
The Forum's panel on distribution deals commented on the new marketing environment ushered in by social media. The effects of instant communication include a more sophisticated and discerning movie-going audience and a far more demanding buyer.
This was the third Cannes program on the film industry co-chaired by Concoff, whose wide network of contacts in the entertainment industry consistently results in a relevant and timely array of topics and a host of distinguished panelists.
Click here for Variety's report on the conference.