After a lackluster Sundance in 2018, last year was full of mega-deals, especially by Netflix and Amazon. Buyers spent over $120 million acquiring rights to some 40 films.
Buyers at TIFF are skittish after a 6% drop in North American box office receipts in 2019. Worse still, is the dire year indie films are having, where receipts have declined 45%.
The deep pockets of digital distributors have inflated the average price of film rights at Sundance and other major film festivals.