As Netflix and Amazon challenge the traditional festival sales model, dealmakers are bracing for battle over a handful of key titles.
Last year, the biggest Cannes deal saw STX Entertainment plunk down $50 million for foreign rights to Martin Scorsese's mob epic The Irishman, beating out Fox and Universal in a bidding war. Fast-forward 12 months, and that film may continue to dominate the conversation at the market this year. That's because in February, The Irishman financier Gaston Pavlovich opted out of the STX pact in favor of a worldwide deal with Netflix — a move that has implications for European distributors (Netflix forgoes a traditional theatrical release and instead launches directly to its subscribers).
"The Irishman will remain a talking point," says Bloom's Alex Walton. "For example, I was just in France and Italy, and though it's old news, people still want to talk about it. The fact that this move is taking box-office dollars away from the marketplace will reach a fever pitch come Cannes."
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