US studios don't see the market at Cannes

US film studios are more timid this year at the Cannes Film Festival, while UK companies are more aggressive in buying films. The weak...

US film studios are more timid this year at the Cannes Film Festival, while UK companies are more aggressive in buying films. The weak US film market is the cause, the Wall Street Journal reported:

"In recent months, lackluster box-office numbers, stagnant DVD sales, and the closing of labels such as Picturehouse and Warner Independent Pictures have drawn clouds over Hollywood's once-blue skies."

Variety recently looked at the industry and the sales at Sundance, with only $25 million in sales this year compared to $53 million last year. "Many niche pics aspire to reach a “Juno”-sized audience, but with rising pricetags, they can’t be treated as art films by a distributor: A modest return on a modest investment is increasingly difficult."

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