Ed note: TFC colleague Bryan Glick is taking a look at how officially selected films have performed in release since their premieres at the major Spring film festivals SXSW, Tribeca and Cannes 2013. In this second post, he covers the narrative films. His look at documentaries can be found HERE.
There is no better worldwide platform launch than Cannes. For foreign language films, it is arguably the best place to solicit North American interest. 20 World Premieres (or 25% of selected films) from Cannes 2013 grossed over $100k and 10 of those grossed over $1 Million theatrically in North America. These films also frequently perform much better internationally. Four foreign language films managed over $1 Mil and 11 over $100k. No fest has such a strong record for non-English Language content. Additionally Nebraska, Inside Llewyn Davis, The Missing Picture, The Great Beauty, All is Lost, and Omar all found their way to Oscar Nominations. And another 9 films from the fest were official Oscar submissions from their country. Cannes has the perception of the ultimate endorsement. It is one of not even a handful of laurels that automatically adds value to a film.
However, less than 2/3 of world premieres got any sort of North American distribution. This is below the % from Sundance, SXSW, Tribeca and only slightly above the behemoth of TIFF. Naturally, the films performing at the top of the box office are primarily from those selected for main competition and are most likely to facilitate distribution deals.
Turning to this year’s festival, a little over 30 films currently have North American distribution. 1/3 of those are from Sony Picture Classics! They have a whopping 10 films. They went into the fest with competition award winners Mr. Turner (Best Actor) and Foxcatcher (Best Director) pre-attached. Prior to the fest they also snagged Coming Home and Red Army. On top of that, they added Wild Tales, Saint Laurent, Jimmy’s Hall, and Best Screenplay winner Leviathan from the main competition. In addition, they took the doc The Salt of the Earth.
Not far behind was IFC with 6 films. They arrived with competition titles Clouds of Sils Maria, and Two Days, One Night. They added to their impressive tally Bird People and The Blue Room from Un Certain Regard and wrapped it up with The Salvation from the midnight lineup.
Those two companies combined for ½ of all Cannes 2014 films with distribution in the US! They also indirectly highlight what was clearly missing from this year’s Cannes crop. No studio presence in any competitive sections. Warner Bros technically has Ryan Gosling’s directorial debut, but multiple reports suggest the distributor is trying to pawn it off to a smaller company and cut their losses.
A number of distributors though still had reason to be happy. Radius-TWC, TWC, Cohen Media Group, Magnolia. And A24 each have a pair of titles.
A24 took the critically panned, but star heavy The Captive and just opened The Rover last Friday to a US opening weekend gross of over $69K in 5 theaters. The film is performing much better in France, Australia and Belgium though.
TWC had opening night Grace of Monaco and The Disappearance of Eleanor Rigby which screened as two different films at TIFF and will be released as three different films in the Fall. The genre heavy and younger skewing Radius-TWC took two films from Critic’s Week, the American horror film It Follows and When Animals Dream.
Magnolia took the top two prize winners from Un Certain Regard Force Majeure and White God. Cohen Media Group continues their trend into foreign cinema with Timbuktu and In the Name of My Daughter (screened out of competition).
Other companies to acquire include Strand Releasing (Girlhood), Saban Films (The Homesman), Music Box Films (Gett: The Trial of Viviane Amsallem), WellGo USA (These Final Hours), and EOne (Map to the Stars)
Many of these films have very good prospects in North America and around the world.
Admittedly, Tribeca is frequently a dump off site for Sundance narrative rejects. Multiple people have opined that the fest would do better to just focus on docs. The performance of last year’s narrative lineup shows that there is some life left for their non doc films, but not much.
The English Teacher which was pre-bought by Cinedigm was the only scripted fare at last year’s fest to pass $100k (which it barely accomplished). French specialty arm Distrib Films pushed Just a Sigh to just over $71k with only a few small venues left to play.
Lagging behind are Focus World/Screen Media’s day and date release of A Birder’s Guide to Everything ($48k), Strand Releasing’s Bicycling with Moliere ($49k) and Israeli genre fare Big Bad Wolves which managed $33k as a day and date with Magnolia.
What the fest proved to do last year though was highlight a number of films in their North American premiere. Berlin titles Broken Circle Breakdown, The Rocket and Reaching for the Moon all were met with some success. ‘Broken’ secured an Oscar Nomination and grossed $154k through Tribeca Films. Kino Lorber got the Australian made, but Laos set Rocket to manage $54k and Wolfe Releasing saw $45k for Reaching on top of massive festival exposure. The Film Collaborative handled grassroots marketing and fests on the latter.
Nothing else grossed over $25k in theatrical relase, though many films performed well digitally in the hands of IFC, Anchor Bay, Oscilloscope, Vertical Entertainment, Tribeca Films, XLRator Media, Samuel Goldwyn, and Dark Sky Films. Notably, The Machine is currently in the top 10 on ITunes. In all, over 70% of the narrative films that premiered at Tribeca have some form of domestic distribution confirmed. Only Sundance had a higher rate of distribution. But, American films from Tribeca rarely played well internationally.
Turning to Tribeca 2014 the big deals were once again for docs, but there some notable narrative acquisitions. About 20% of films available when the fest was announced have since been acquired
IFC took Extraterrestrial, 5 to 7, and Match. Likely all three will be VOD focused. Magnolia took Life Partners, Film Movement opted for Human Capital, and Zeitgeist has Zero Motivation.
Additionally About Alex went to Screen Media, Summer of Blood sold to MPI, and The Canal will be working with The Orchard.
Where SXSW has an advantage over Tribeca is that there is a clear sense of programming and demographics. Tribeca is often the back up to Sundance, while SXSW is the place for younger, edgier, hipper fare. Naturally, many of the narrative deals from SXSW this year were for genre films.
Magnet took Honeymoon which is the rare film to premiere at SXSW and screen at Tribeca. Lionsgate bought Exists, Cinedigm peeked into Open Windows, and Radius-TWC invested in Creep. IFC Midnight went for Home and the time traveling teen sexy comedy Premature and mainstay label IFC bought Kelly and Cal. XLRator bought Housebound and The Mule and Oscilloscope took Buzzard.
Radius-TWC has already released this year’s 13 Sins and Magnet released Stage Fright.Both were ultra VOD releases with so-so digital performance and middling box office.
Additionally, the fest was the world premiere choice for Chef which has become the 3rd highest grossing indie this year so far and Veronica Mars is the highest grossing day and date release so far this year.
Last year’s fest saw the massive breakout Short Term 12 gross over $1 Mil in the hands of Cinedigm and dominate critic’s lists. Magnolia did over $343k with Joe Swanberg’s Drinking Buddies. The latter was day and date. Both films outgrossed all of the Tribeca Premieres from 2013.
Also performing somewhat well was Drafthouse Films Cheap Thrills which did $59K at the box office and Variance’s service release of The Retrieval which will pass $50k this week. Variance also did $62k with John Sayle’s Go For Sister which had its North American premiere at the fest.
A large number of films from the fests last year went digital only, had small theatricals, and/or set up self financed releases. Tribeca has started to take notice and this year a number of films premiering there opted for this route.
Cannes continues to be the one major festival holdout where films premiere and wait it out for distribution offers.
Bryan Glick June 19th, 2014
Ed note: TFC colleague Bryan Glick will spend these 2 weeks taking a look at how officially selected films have performed in release since their premieres at the major Spring film festivals SXSW, Tribeca and Cannes 2013. In this first post, he cover the documentaries.
TRIBECA IS RULED BY DOCUMENTARIES
The three highest grossing films and 7 of the top 10 grossing films from last year’s Tribeca were documentaries. As you follow the list of films, it should become clear how important Tribeca is to the doc world and how little of a presence Cannes has in documentaries.
IFC/Sundance Selects released the bio-doc Elaine Stritch: Shoot Me which has grossed over $305k in North America. That tops all SXSW docs from last year. IFC Also shined on a light on the cute kids of Dancing in Jaffa, which, despite being a day and date film, has grossed $136k domestically and $297k worldwide at the box office. Additionally, IFC is releasing TFC film Gore Vidal: The United States of Amnesia in theaters right now. In only 10 days in NYC, it has grossed $33k and is likely to be one of the top five films from last year’s batch when it’s all said and done. TFC handled fests for the film placing it in 50+, a healthy reminder that festivals only help your release (and an added reason to use a company like TFC to maximize fest exposure and revenue).
Closing night film Mistaken for Strangers is the only other doc from Tribeca to pass the $100k mark. It had a mix of week long and special engagements via Abramorama in addition to instantly going to the top of ITunes. Never underestimate the power of a music documentary to find a strong audience.
Zeitgeist saw $64k with the all archival footage doc Let the Fire Burn and right behind it Kino Lorber’s release of The Trials of Muhammad Ali topped out at $59k in a maximum of only 10 theaters, but a long run of 19 weeks. Big Men has grossed $42k in its service theatrical release with Abramorama which, given their advertising buys, has got to be below expectations. Oscilloscope has done well digitally with Teenage and slowly built up to $40k with another couple of venues left in the release.
Aatsinki:The Story of Arctic Cowboys, Flex is Kings, and Lenny Cooke all had small DIY releases. The Motivation opted for a release through GoDigital and multi award winner Oxyana did an exclusive with Vimeo.
Bridegroom is the rare doc to get into Redbox, but the film’s largest audience was on OWN. Showtime took Richard Pryor: Omit the Logic. HBO trumped all networks with Gasland Part II, Inside Out:The People’s Art Project and the acquisitions of Herblock: The Black and the White and I Got Something’ To Tell You.
Circling back to this year, ½ of the acquisitions from April’s Tribeca Film Festival were documentaries including Keep on Keepin’ On which Radius-TWC bought for over $1,000,0000! Radius-TWC also snagged the lego doc Beyond the Brick while Magnolia was entranced by Ballet 422. Another highbrow doc, Dior and I, sold to EOne and opening night hip hop Nas doc Time Is Illmatic went to Tribeca Films. Morgan Spurlock Presents (A new partnership with Spurlock, Virgil Films and Abramorama) will release A Brony Tale this summer and just after the fest, Kevin Spacey released the doc Now in the Wings On a World Stage off of his personal site powered by VHX and in a few theaters. It’s now passed $50k at the box office.
CANNES CANT TALK DOC!
While Cannes may be unrivaled as a launchpad for narrative films, it continues to largely ignore documentaries. Of the four (that’s right…only 4) documentaries that world premiered at Cannes, none could be considered breakout hits.
Jodorowsky’s Dune, an admittedly somewhat fringe film to begin with, got the maximum play humanly possible in the hands of Sony Picture Classics. It’s still in theaters and has racked up just under $600,000 domestically. That is more than any documentary out of last year’s SXSW, LAFF or Tribeca.
While scoring a best foreign language film Oscar nomination, French/Cambodian doc The Missing Picture only limped over $50k at the hands of Strand Releasing in its domestic release. It’s international box office revenue doesn’t bring the film’s total to even $100k. Its performance is well below the performance of the other four foreign nominees (or the 5 Best Doc nominees for that matter) despite an average Rotten Tomatoes score of 99%.
With an overwhelming 220 minute run time, The Last of the Unjust maxed out at just over $40k theatrically which is on the low end for the holocaust subject matter, but given the massive length should be considered somewhat impressive. Internationally though it did even worse than The Missing Picture. The one other doc, James Tobak’s Seduced and Abandoned premiered on HBO.
Which lands us back at this year’s SXSW 2014. The festival saw a little movement in the doc acquisitions department with Gaiam TV buying TFC repped doc The Immortalists and Netflix nabbing exclusive rights to Print the Legend. Oscilloscope took advantage of BFI marketing matching funds and acquired Pulp: A Film About Life, Death and Supermarkets which will also screen at the upcoming Sheffield DocFest.
TFC was quite active at the festival this year. We arrived with two docs for festival rights (The Dog and The Immortalists) and have since added Song From the Forest and Born To Fly for festival distribution. Born to Fly has already been placed on the programs at Full Frame, SIFF, Sheffield, and Frameline and we will release it theatrically in a hybrid-DIY release. It launches September 10th in NYC at Film Forum and then comes to Los Angeles September 26 before expanding throughout the fall. Programmers may contact us directly about theatrical bookings of this film or message Jeffrey Winter about festival engagements for any of our 4 SXSW Docs.
Bryan Glick June 4th, 2014
This post was originally published on the Future of Film Blog of Tribeca Film Festival on April 9, 2012
Recently I was helping a friend with a business plan related to publishing. So naturally I needed to reference revenues in the publishing space. There was plenty of revenue data available. However, when one reads film business plans one knows that data is often unreliable, unverifiable, or misleading. In my dealings with people from other professions and others in business, it always seemed to me that sharing real information was considered good business and led companies to learn from others.
I’m sure there are plenty of business that do not function transparently, but after 13 years in this one, I can say I know why people hide real information and why it’s bad for the film industry as a whole.
Box office grosses can be verified to a great extent but P&A expenses cannot and now with VOD revenues, it’s anybody’s guess what really happened except for those seeing the actual reporting (and even then…). When DVD was a key revenue generator, one could at least get a lot of the main sales data via VideoScan. It covered the retail brick & mortar sales numbers and Rentrak covered the rental business as well.
In today’s digital distribution market, which ranges from VOD, to iTunes and other smaller online outlets, the numbers are hard to find or verify.
Most of us probably criticized the mysterious banking practices that led to the economic downturn within which we are still presently mired. Yet the film industry perpetuates a system that hides information and makes the data mysterious when it should not be. This mystery and obfuscation leads to incomplete or inaccurate business plans, an uninformed investor pool and an excess of supply that creates a glut. In the end, no one benefits.
What and why people hide:
- Filmmakers will hide the fact that their distribution deal was a service deal because they want it to seem as if their film was “acquired”. Why does that matter to them? Part of it is ego and part of it is the desire to attract future investment. Even though a DIY model can actually generate more revenue, there is a stigma associated with it. Filmmakers often hide their revenues overall for the same reasons.
- Distributors try to hide or not make public their fees or the specific revenues from VOD. Why do they do this? Simply, it’s harder to analyze and compare options. When one can do this properly, you quickly realize how excessive fees are for certain rights categories and that there are extra middlemen who often serve no benefit to the licensor. Further you realize how little is done to justify the fees. When I write “excessive” I mean that one can get the same job done for a lower fee or smaller overall cost. I commend the distributors and the filmmakers who have been transparent, but these are few and far between.
- Studios are less transparent and public about data because their dealings with Cable MSOs and key digital platforms are required to be secret (I am told this is a condition of the platforms and the MSOs). So we understand that their splits / terms (with MSOs and some platforms) are better but we do not always get the exact data.
- Platforms such as Netflix also do not like to publicize how they arrive at the fees they offer as their deals vary with various suppliers.
So where does this leave us?
- With a pool of often revolving investors who know little about distribution and rely on business plans that contain little statistical backup. My sense has been that many investors do not get their money back and are therefore not repeat investors.
- With filmmakers who struggle just to create and have a career. They usually prefer not to focus on distribution and either take bad deals or have to spend money on consultants to help them have access and make decisions. In short, filmmakers are losing money and often making poor decisions because of the lack of information. Digital distribution does afford more access for filmmakers, but not as much as it could and one day may do.
- With a glut of films, many made by wide-eyed newcomers who don’t know the realities of just how competitive it is and how tough their odds are. This lack of transparency and real data perpetuates a mystique around the industry that increases the supply. It also feeds an economy of middlemen and consultants and hell, even us.
The choice by filmmakers to hide their real experience in distribution is a disservice to future filmmakers and investors as well as in some cases to the filmmakers themselves. It only encourages competition and thus increases the odds of future struggle and disillusionment.
The choice by distributors not to be transparent is obvious in its motivation. Personally, I think this industry would be well served by a market correction and a drastic adjustment of industry standards in reporting and transparency. Obviously with a book such as ours, and business practices such as ours, we hope to be a catalyst in that direction.
I have said from the day I founded our organization that I would be delighted if we facilitated our uselessness. It would show that an industry change for the better had taken place.
What would be the benefit of greater transparency?
- We could all learn from others’ mistakes and successes a lot more easily and with greater certainty.
- Filmmakers and industry folk could spend less on business-to-business transactions and more on direct-to-audience marketing and community engagement.
- We might actually see greater quality and less quantity–which would also positively impact audiences and create a more sustainable career for those who are the more talented.
- We might see more innovative thinking around marketing for a change instead of having everyone rest on their laurels because no one can really evaluate what has or has not worked.
Orly Ravid April 13th, 2012
Posted In: Digital Distribution