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The Story Behind The Cannes Virtual Market(s): How Coronavirus Has Led To A New Way Of Doing Business & An Unprecedented Agency Coalition

The Story Behind The Cannes Virtual Market(s): How Coronavirus Has Led To A New Way Of Doing Business & An Unprecedented Agency Coalition

Berlin was buoyant. Surprisingly so. Netflix’s splash for The Good Nurse and Searchlight’s deal for Perfect were among the biggest deals the Efm had ever seen. Things were looking up ahead of Cannes.

It didn’t take long for the mood to unravel. Just a few days after the festival and market ended, it became clear that the picture was darkening. Coronavirus would pose an existential threat to the entire business.

“I’m worried about the market”, one agent texted me at the time during a discussion about potential Cannes titles. “We need to work something out.”

“We thought, ‘shit this is our reality'”, says a leading La-based financier. “‘Let’s be sure we’re communicating that this is an optimistic and vibrant business that can finance itself and that the marketplace is alive. It’s vital that businesses are alive and kicking and able to get out of this'”.

The situation was,

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