As Cannes gets underway, today’s Daily Bite features news on why the weak Euro may hinder European buyers and sellers at the market, as well as news of record sales at the European box-office in 2011.
Euro crisis casts shadow over Cannes market…. As the Cannes Film Festival and market gets underway today, the Hollywood Reporter are reporting that there are huge pressures facing buyers and sellers, including a flood of new sales companies and a dramatically weakened Euro. They add that, since market deals are done in US dollars, a weakened Euro means European buyers will be in a poorer position when it comes to negotiating deals.
European box-office hits €6.4bn…. European cinemas broke box-office records last year with €6.4bn spent on ticket sales according to Variety. The trade magazine reports that European films accounted for nearly a third of the market. They pointed to crowd-pleasing European comedies, such as The Inbetweeners (UK) that helped drive up European market share from 25.2 per cent to 28.5 per cent in 2011. France was leader for European films, accounting for 10.5 per cent of all EU admissions, with Italian second (4.6 per cent), and UK and Germany equal third with 3.7 per cent market share each.
Future leaders of sales and acquisitions…. Ahead of the start of the Cannes Film Festival today, Screen Daily has put together its list of Future leaders of sales and acquisitions: 50 of the hottest rising buyers and sellers. The list is downloadable here. If you watch one trailer today…. Following a well-received short film and a starring role opposite Ray Winstone in ‘The Sweeney,’ musician Plan B’s directorial debut feature ‘Ill Manors’ will be released on June 6.