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The Asia Pacific Raking in Big Bucks at this Year’s American Film Market
By Chetna Purohit
Achieving cinematic glory for any film requires a delicate intermingling of artistic, creative genius and cutthroat business savvy. The glitzy film festivals of Sundance and Cannes resonate with celebrity commotion, enchanting newcomers, and approbation of overall cinematic virtuoso. Films, however, took on a new meaning when they arrived at the sandy beaches of this year’s American Film Market (AFM) held in Santa Monica, California from February 19-26. For one week judges and jury selections are flung aside and the big shots of the film financing and distribution agencies assume command.
As Executive Vice President and Managing Director of the American Film Marketing Association Jonathon Wolf affirms, “We’re about the business of film rather than the art of film.”
Capturing international attention at Sundance, as well as bringing Asian oriented films such as “The Guru” to the forefront of American theaters, the East played a significant role at this year’s AFM. No longer just a Hollywood driven business, Korea, for example, delivered an unprecedented 31 films for sale, including their current box office smash “Shiri”.
China, not to be outdone by its fierce competitor, stirred commotion for Jeff Lau’s “Chinese Odyssey 2002” (LINK TO SARA’S COMPLIMENT ARTICLE). China’s presence was also enhanced by Fortissimo films, which represented “Three” (LINK TO SARA’S ARTICLE), a multi-layered story combining the direction talents of Kim Jee-Woon, Nonzee Nimbutr, and Peter Chan. Fortissimo also didn’t have to take much of gamble when backing “Traces of a Dragon: Jackie Chan and His Lost Family” (LINK TO SARA’S ARTICLE), which proved quite a hit.
The Japanese were also in full force representing such major corporations as Shochiku, which backed films like Yoji Yamada’s “The Twilight Samurai,” Takahisu Zeze’s “Moon Child,” and “When the Last Sword is Drawn” by Yoijiro Yakita. This distribution agency found their formula for success to lie in the action/adventure genre. Schwarzenegger, Stallone, and Segal better stand guard – there’s a new force strutting the action packed streets of cinema.
And of course, this cinematic bazaar would not be complete without the mixing of some spicy flavor of Bollywood. No longer only exporting engineers and computer wiz-kids, India has begun to take its lucrative cinematic tradition very seriously by expanding into international markets. This year, the Confederation of Indian Industry (CII) dispatched a delegation of Indian directors, producers, and film financers to AFM. A prime player in the game, Dr.Vijay Mallya said, “The American Film Market is one of the most respected events in the business of filmmaking, and we hope that a strong Indian presence will increase the scope and reach of our industry.”
Founded in 1981 the AFM has evolved into the world’s largest motion pictures marketplace, annually closing in over $500 million production and distribution deals. Because of the large sums of cash exchanging hands at AFM, it is not surprising to see many perceiving the focus of concern to lie in big-budget Hollywood-type products that would guarantee a high turnout at the box office. Although this may be partially true, interestingly enough though, AFM although characterized for its narrow scope on the big bucks and business aspect of film, does pride itself on still acting as another voice for independent filmmakers. According to journalist Maud Kersnowski of indieWIRE, “This is because the AFMA defines an independent film as one that receives 50% or more of its financing from outside of the studio system.”
This fact coupled with the culturally diverse presence at AFM (participants come from over 70 countries) helps to ensure that audiences will continue to be exposed to broader perspectives and visions of the world. As a result the winners of AFM include an eclectic array of big-budget blockbusters and more modestly financed independent films, all which are destined for their international debut in theaters and televisions around the world.
The AFM redefines the meaning of a “good film.” The documentary of any box office buster is twofold. Of prime importance to the birth of any cinematic success remains the genius of uncompromising and obsessive directors that aim to perfect their imagined fantasies into ones that can be understood and embraced by the masses. The second crucial ingredient is cold, hard cash. Due to the appeal of the creative process the importance of financing a film and getting it distributed are often underestimated.
The Oscars, Sundance, Cannes, and so forth highlight the pretty aspects of film: the red carpet fashions, stretch limos, and overall star idolizing. Conversely, the AFM is not an award ceremony or festival praising artistic talents; it’s a nitty-gritty market where there’s little time for actresses’ demands and flaunting glamour. At the AFM the camera lens focuses on the cool, calculating financers who are ready to get down and dirty. Forget the glitz and glamour, at AFM it’s all about the benjamins! |
Clip from Korean film “Shiri”
Courtesy of www.uiowa.edu
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Clip from “Chinese Odyssey 2002”
Courtesy of www.cantonkid.com
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Clip from “Traces of the Dragon”
Courtesy of www.fortissimo.nl
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Clip from “The Twilight Samurai”
Courtesy of forum.japanreference.com
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