Page 15 - Film Festival Journal + Review Spring/Summer 2020

FILM FESTIVAL JOURNAL + REVIEW

Executives, filmmakers, agents, publicists, talent
and analysts say that the situation is entirely unprece-
dented. There’s never been a global epidemic that threat-
ened so many core pieces of media conglomerates at the
same time. When more people get sick with the virus,
consumers will likely stay home, avoiding multiplexes,
Broadway theaters and rock concerts. In the short run,
people will likely flock to streaming services such as Net-
flix and Disney Plus, which offer consumers access to
movies and shows from the safety of their homes. Amid
the market meltdown, Netflix has been a standout stock
in the media sector. The streamer’s shares are up 12.5%
since the start of the year through March 10 compared
with S&P 500’s 10.8% drop over that period. Investors see
Netflix as relatively virus-proof, with virtually no expo-
sure to epidemic-related revenue declines. If anything,
the company stands to benefit if the outbreak worsens
and people avoid public venues.
Sales agents are trying to figure out novel ways
to screen movies for buyers. They acknowledge that it
could be harder to create a bidding frenzy without the
buzz that accompanies a premiere at SXSW or Cannes.
“There’s an interesting paradox,” says John Sloss, head of
Cinetic, a management and sales company. “It’s not good
for the festivals, but people are going to be trapped in
their houses and they’re going to consume more content.
So that’s not great for the theatrical experience, but it’s
good for people selling movies to streaming platforms.”
Some filmmakers have been discussing the possi-
bility that SXSW could have a digital event instead,
where the movies that were intended to debut in Austin
could stream for those who bought tickets. But not every-
one is convinced that would be an acceptable alternative.
(SXSW laid off a third of its year-round staff after cancel-
ing the fest.)
“I’m concerned that you wouldn’t be showing the film in
a substantive way to the people that you want to have
reacting to it,” says Caleb Johnson, the director of “The
Carnivores,” a dramedy that was supposed to premiere
at SXSW. “The major question mark is, does [a streaming
event] have substance to it or is it a placebo?”
The last-minute cancellation has left moviemak-
ers feeling devastated.
“We were expecting to have the film reviewed in
the trades, to find a distributor and to have some ceremo-
nial event like a premiere that marks the completion of
all this work,” says Jason Sussberg, director of “We Are
as Gods,” a documentary that was slated to open at
SXSW. “It’s an important ritual. It’s like having a death
without a funeral, or a marriage without a wedding.”

14 FILM FESTIVAL JOURNAL SUMMER 2020