Coronavirus & the Industry
This is still developing, and no one - myself included - has their heads wrapped around what happens next, but I don't know how not to start this newsletter with a coronavirus update - it's all anyone can talk about. And it's impact is big for everyone, so I am not trying to minimize the bigger picture by focusing on how it's gonna change the film industry.
Everyone knows that SXSW cancelled, and left many films wondering what happens next, while 50+ people were laid off. Someone started a GofundMe page for service workers in Austin, which isn't a half-bad idea. SXSW announced they didn't have insurance, and then we learned that not only does Cannes not have insurance for cancellations by virus, but that they recently turned down an opportunity to buy it at a cost of just 6% of their premium. Talk about hubris. And crazy...although as I'm about to press send, Cannes tells Le Figarothey might cancel if things get worse. (they will).
Meanwhile, Stage32 announced that they'd be screening SXSW films on their platform for buyers, agents and other industry. IndieWire and a few other outlets announced they'd cover films from SXSW as if they had played (as long as the producers are ok with that). But everyone I know is arguing whether this makes sense, given that most press care about premiere status and word of mouth. And while we all know buyers can honestly form an opinion with a Vimeo link, how do you get their attention away from a festival? I know that at least one VR company was known to be contacting festivals, offering that they could hold virtual events in their space(s), but while Forbes thinks this can work for conferences and events, Wired just reported that using VR as a replacement for the real world, isn't working out so well, and I don't know anyone who would sell their film to buyers or the public this way (which is in itself an indictment of the technology).
Numerous other Spring festivals keep saying they'll take place, but most people in the industry that I know are counting them all out. As I write this, Cleveland Film Fest and Full Frame both cancelled. I imagine 5-10 more will follow suit before I press send. Especially the bigger ones that draw not just crowds, but lots of travelers and red carpet press lines (guess who...).
My two cents: This is gonna get worse way before it gets better. Anything of consequence will cancel. There might be a Summer lull, as happens with many viruses, but then it will hit again this Fall, meaning filmmakers and industry can't count on NYFF, Toronto, Telluride, etc. Everyone is busy guessing what happens to the films that just lost their chance at SXSW, but what happens to the thousands of films about to be hit from cancellations from every other major fest, possibly through the end of the year? Will Sundance take place in January of '21 - can they get insurance when we don't have a handle on when we might get more masks much less a vaccine? Will SXSW get a bailout from the State of Texas (Utah helped Sundance back during the recession), or try to come back by "pulling on their bootstraps?" What happens to production on all the films trying to get cast to show up during a pandemic? What happens to your financing when the stock market goes down 20%+ and your investors get nervous? And how about your insurance for that shoot? And in my branded content world - How many brands are going to stick with long-form (and time consuming) bets when sure things like commercials are an easy fall-back?
And guess what folks - this is part of a new normal. As I mentioned two weeks ago here, fundamental business practices are going to get rearranged and it's going to be terrifying and interesting to watch. This is not being alarmist, just stating the facts; and I'm thinking we should plan for these things instead of hoping they don't come to pass.
Wash your hands. Don't touch your face, and don't even think about what happens next in the film world.
Will Packer, "Hollywood Underdog" as Indie Producer role-model.
Will Packer is the Hardest Working Man in the Biz - and he's finally getting some more attention from the indie world too - IndieWire has a great interview with super-producer Will Packer, and I highly recommend it to anyone making films, wanting to make films, or wanting to know how real producers do their work. I am biased as can be here - Will and I went to high school together in St. Pete, Florida and both played football (I sucked, he was better at that too!) - he was two years behind me, so we weren't the best of friends or anything, but this bonded us when we reconnected years later in Atlanta, where he joined the board of the Atlanta Film Festival, which I ran at the time.
I'll never forget sitting in a meeting of people in Atlanta who, at that time, were trying to get a tax incentive passed (wildly successful now) and Will stood up and said, "I have a film in theaters today that has the highest per-screen average in America, yet no one here is taking us seriously." That film was Trois, and he marketed it so well that Sony ended up hiring his company to market and distribute the films they bought from him later. His early films are case studies in how to market indie films to a "niche" (scare quotes because the audience was huge), underserved audience. And he still does this today, telling IndieWire, "I’m also involved with the distribution, the marketing. If I pitched it, if I oversaw the production and got it made, how can I then just turn it over to people and then say, “All right, now you go sell it.” Amen - and I wish every producer said that.
He worked his way up to being one of the most successful (if not award winning) producers in Hollywood, and as he explains to IndieWire, it took forever for the industry to pay attention. Well, they pay attention now. What's his formula for success? Another quote that I wish I heard from every producer: "It is: What is the audience, where are they, what are they into, what would resonate with them, what’s the marketing? Then I do a cost-benefit analysis, because if I think the audience that I could realistically reach is not worth the effort it would take to reach them, I probably won’t do that project." (emphasis added). Read the interview and follow his lead.
While Will would admit his films are very commercial, he is the epitome of indie producer and it's mind-boggling to me that he isn't on the board of more indie film organizations today.
Stuff I'm Reading
More Film News
AMC Theaters has hired a new chief of strategy, to help negotiate with SVOD players, among other things. Deadline reports, on what is probably a case of a good idea, way too late.
Roku is among the entities that could be helped by coronavirus, reports InvestorPlace, and we'll see plenty of these articles as people stay home and switch completely to in-home. As I asked two weeks ago, will they ever come back?
AT&T back to its old tricks with streaming - According to Vice they are burying fees, doubling prices after low starter fees, and all the other great things that made us hate cable in the first place. Remember, people didn't just hate the bundle, they hated getting screwed.
A new site gives you every streaming service, but on one condition: you have to watch they are watching - Buzzfeed and the Verge break down how this demonstrates what we've always known - a broken streaming model encourages piracy.
Check out this film by Justin McConnel which breaks down the life of an Indie Filmmaker - From Nofilmschool. I haven't seen the full film, but people say it's what you should learn about in film school, all in one little film. The trailer makes it seem pretty informative.
Branded Content
| BrandStorytelling launched its first Honor Roll of six individuals who are driving branded content forward. The Honor Roll was launched at this year's BrandStorytelling conference and there's a great write-up on the awards, who was honored and why over at Forbes. The Chicago Bulls are the first NBA team to embrace Tik Tok through Branded content: Front Office Sports breaks it down. They won't be the last, and more brands- and events - should follow the lead. From the article - “The partnership with The Bulls and BMO Harris is a great example of how sports teams can create engaging and fun content with their sponsors,” Levin said. “We encourage and empower our partners to work with their local markets to bring value for their sponsors.” Influencers are finding innovative ways to separate their brand from other brands they're collaborating with - Digiday has the story - and its essentially about inserting commercial blocks to notify you of sponsored posts. |
| MISC Virtual Reality For Good Use Causes? Forbes has the rundown on some "use cases" of VR for social good. I remain skeptical, but this has some good ideas. Thinking of starting a podcast? Everyone is, and (my sometimes lawyer) Alan Baldachin has a great post on what he's learned from a year of hosting his podcast, The Medium Rules, which is also a great podcast to watch/listen to about long term media trends. A seventeen year old High School student created a website that gives the most up to date info on Coronavirus in an easy to read format. Check it out |
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