This week, the Sundance Film Festival wrapped up its first fully in-person event since January 2020. While the festivalgoers were happy to get together for ten days of in-person screenings and festivities, many also expressed anxiety over the outlook for the industry. Sundance is best known for showcasing independently produced, original dramas and documentaries but these types of films have had a difficult time since the pandemic in finding their audiences, especially in theatres.
In the years before the pandemic, Sundance was renowned for making headlines when studio execs signed expensive distribution agreements for festival hits, only to fall flat at the box office a few months later. Some prominent examples included flashy distribution deals for HAMLET 2, BLINDED BY THE LIGHT, Mindy Kaling’s LATE NIGHT, and BRITTANY RUNS A MARATHON.
Some of this year’s most talked about movies are still looking for distributors, including MAGAZINE DREAMS starring Jonathan Majors and the Brett Kavanaugh documentary JUSTICE. The streamers have been among the most active buyers, led by Netflix’s $20M acquisition of the psychological thriller FAIR PLAY from director Chloe Dormont.
Fox Searchlight spent $8M on the musical THEATRE CAMP, featuring Broadway star Ben Platt while A24 acquired the horror title TALK TO ME” for a similar amount. However, neither musicals nor horror films are typical fares for Sundance, reflecting a new sensibility about the films with the best prospects for commercial success.
See also: Sundance Deals: Netflix, Apple Shell Out As In-Person Screening Returns (Hollywood Reporter)