Cannes Film Festival & Market Reaffirms One Persisting Trend
Cannes Film Festival represents the epitome of the film festival experience. It boasts old Hollywood glamour (and an even stricter dress code) from one of the most alluring red carpets in the world to larger-than-life premieres like Mission Impossible – The Final Reckoning, one of the hottest tickets in this year's lineup,
But beyond the silver screen and behind the giant red carpet and gowns, there is a well-attended and robust market centered around the Palais just on the edge of the La Croisette. For nearly two decades, this central meeting hub has provided a space for industry professionals and festival goers alike to educate, discuss and pontificate over networking events, panels and more.
Amy Baker, CEO and co-founder of Winston Baker, has led the development of this programming with the company's annual International Film Finance Forum in Cannes in partnership with Marché du Film. Winston Baker is a globally recognized entertainment content curator, specializing in strategic solutions across entertainment finance, music, innovation, sports and various pockets of the industry. And as the 15th annual finance forum, this year's program did not disappoint. Set on the Festival Main Stage, Baker's company led candid conversations with thought leaders, established executives and talent to demystify and predict trends in the ever-changing film marketplace.
I had a chance to connect with Baker following the whirlwind market to get her sense of how this year compares in Cannes past. She noted a surprising amount of support for their artificial intelligence (AI) panel which focused on China. 'In years past, that was not as well attended but this year the crowd showed up with real interest.'
AI topics still appear to be a charged issue within the industry—especially after the strikes of 2023— as attendees often questioned the panel itself and yet inquired about AI uses. Baker says that while there is a 'strong interest in figuring out the use of AI,' it is still met with skepticism and concern (with enough hope to reinforce that AI in film is not going anywhere).
An image of panelists at the 15th Annual International Film Finance Forum in Cannes.
After 15 years of hosting this event series, Baker notes that the main change is that the industry 'newbies' now bring fresh materials and greater sophistication than in previous years, thanks to increased access to technology.
She is impressed with early creators' sizzle reels and sample artwork that look 'just as good as a studio.'
With newcomer trailers matching the level of those screening in the professional sales booth, how does the industry discern and pinpoint where the talent lies?
Baker was also excited about the Cannes audience's continued support for disruptors and advancement in her disruptors and advancement in her Shifter(s) Series with The Shift. For instance, Lars Knudsen and Ari Aster, Square Peg co-founders and filmmakers known for horror hits like Hereditary and Midsommar, received wide coverage from the press for their latest film screening at the fest Eddington. While the film industry is contracting, this is one example of how there are still seasoned professionals who continue to reinvent the business and draw in eyes.
But we were both amused to find that disruption can sometimes be overlooked or judged. Baker remembers back to 11 years ago when Ted Sarandos, the CEO of Netflix, took the stage at her event and proclaimed that streaming movies would take over distribution, and the audience's skepticism was blatantly apparent.
Baker has excelled in providing a forum where new ideas and observations are welcome, and the progressive Cannes Film Festival is especially supportive of her programming. When asked about the viability of Cannes for both seasoned industry vets and newcomers, Baker still believes that this is one of the preeminent festivals and markets as it is always on her radar.
Her advice to newcomers is that the human experience of attending these markets still rises above any AI algorithm and there is nothing like 'being there in person to run into people and just talk as you never know who you will meet.'
Those who prepare and do their Cannes homework can make the most out of this still relevant human experience where one can meet the past, present and future of filmmaking in one beautiful beach setting.
Next up for Baker is the inaugural International Film & Television Finance Forum during the Venice Film Festival in August and another forum at the Busan International Film Festival in September. With the American Film Market (AFM) back in Los Angeles this fall, she is also receptive to that being another great watering hole—not just for selling films, but for bringing the industry together through her company to collectively navigate the future of entertainment.
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