For the first time in its 45-year history, the American Film Market (AFM) has traded the coastal ambiance of Santa Monica for the glitzy setting of Las Vegas, launching its 2024 event at the Palms Casino Resort. This relocation comes with high hopes for streamlined networking, concentrated events, and fresh energy—but also a dose of skepticism as the independent film market continues to erode.
With a notable focus on genre films, the independent film industry is gathering to confront market challenges in a bold new setting.
A New Venue and New Energy
Relocating from Los Angeles, where AFM was a fixture for over four decades, the Las Vegas setting promises to bring renewed energy to the market. At the Palms Casino Resort, all activities—from screenings to panels to networking events—are conveniently held under one roof, a feature set to alleviate some of the logistical challenges of prior years. By consolidating everything into one venue, AFM aims to foster a community atmosphere, allowing filmmakers, distributors, and buyers to maximize their time without shuttling across various locations.
The all-in-one setup at the Palms is already a draw for industry heavyweights. With 286 sales, production, and distribution companies registered, including significant players, AFM sees increased interest from international representatives spanning 80 countries. European delegates from Italy, France, and Germany are attending in solid numbers, underscoring the global appeal of AFM’s new setting.
The Rise of Genre Films Amid Uncertain Markets
In an industry facing unpredictable returns from theatrical releases, genre films have emerged as a key investment focus at this year’s AFM. Genre films, especially horror and action, command significant buyer interest due to their strong built-in audiences and relatively lower risk. The recent success of horror films like Longlegs and Terrifier 3 has reinforced this trend, with AFM showcasing an impressive slate of horror and action offerings.
Projects generating buzz include George A. Romero’s final zombie movie, Twilight of the Dead, directed by Brad Anderson, and the psychological thriller Victoria Psycho, which reunites Sanctuary star Margaret Qualley with director Zachary Wigon. Action films are also gaining traction, with high-profile offerings such as Cleaner, featuring Daisy Ridley in a Die Hard-style thriller, and The Last Druid, a sword-and-sandals epic led by Russell Crowe.
Logistical Challenges and the Cost of the Move to Vegas
While the shift to Las Vegas aims to centralize and energize the AFM experience, many exhibitors feel the financial strain of this new setup. The Palms Casino has introduced unexpected costs that some sellers weren’t anticipating. For some sales agents, the price of the Palms suite is several times higher than previous Santa Monica locations, which has sparked a few complaints over the affordability of participating in the market.
AFM’s decision to locate the event at a well-equipped venue like the Palms, complete with screening rooms, will simplify the experience for buyers and sellers, allowing them to maximize their time and focus on the business.
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Looking Ahead: The Future of AFM and New Competition from TIFF
As the AFM makes its Las Vegas debut, many in the industry contemplate how this move will impact future events, particularly with Toronto planning to introduce a formal market in 2026. The compressed timeline between Toronto’s festival and the AFM’s fall slot has led to questions about whether North American sales agents will continue to attend both events in close succession. Some industry professionals call for a revised schedule to allow them to attend both markets without stretching resources.
Others believe the markets will naturally attract different audiences, with Toronto more suited to buyers seeking completed films and AFM catering to those interested in financing and packaging deals. Still, as Toronto builds out its event, it may become a formidable competitor, and the AFM’s success in its new Vegas locale could determine its long-term sustainability as a premier event.
A Growing Appetite for Commercial Success
For many attendees, AFM 2024 serves as a pivotal moment to gauge the state of the film market amid economic shifts and shifting viewer preferences. Sales agents hope the streamlined setup will enable more efficient buyer interactions. Several have pointed to increased demand for polished, theatrically viable projects that can hold audience attention and drive subscription revenue for streaming platforms. AFM remains a staple for those aiming to place films in the lucrative pay-1 release windows, which have become crucial for distributors’ long-term profitability.
Genre films dominate many sellers’ slates, especially those in the horror and thriller categories. Offerings like Eye for an Eye, Fear is the Rider, and Wasteman reflect the market’s lean toward commercially viable films without requiring major stars or massive budgets. In a post-lockdown landscape, genre films offer the blend of predictability and audience draw that distributors desire.
FilmTake Away: A Roll of the Dice for AFM’s Future
The American Film Market’s leap to Las Vegas may be seen as a gamble, but with all eyes on the potential for greater efficiency and streamlined business, it could redefine the market for years.
AFM hopes to create a more cohesive event catering to newcomers and veterans by bringing the industry under one roof. Whether Las Vegas proves to be a lasting home for AFM will depend on how well the new location meets the industry’s demands in an evolving market.
For an industry constantly seeking its next hit, AFM 2024 will ultimately be judged by the stories it brings to the big screen and its resilience in the face of rapid change.
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