The 2023 Hollywood strikes, coupled with the lingering effects of lockdowns, have cast serious doubt on the future of theatrical releases. In 2022, TIFF saw its biggest deal to date, with “The Holdovers” fetching $30 million from Focus Features, but there was a catch—it wasn’t an official festival entry. Instead, it was a private screening.
The independent market is at a crossroads. Traditional strategies are no longer effective, and the task of bringing audiences back to cinemas remains daunting. Insiders are actively pursuing solutions to these seemingly insurmountable challenges. Despite these obstacles, some believe the film industry is on the verge of recovery.
As streaming platforms vie to capture marketshare in a view-from-home environment, the recent deal between A24 and Warner Bros. Discovery (WBD) brings A24’s eclectic catalog exclusively to HBO and Max after their theatrical runs illustrating the need for studios to look elsewhere for interesting films.
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