Studios are no longer tied to a single strategy for releasing films. Instead, each major player is now juggling theatrical, transactional, and streaming windows with increasing precision. Below is an examination of how studios like Universal, Sony, and Paramount are embracing staggered, platform-specific Pay-One strategies.
The 2025 Cannes Market delivered more questions than answers, as industry players navigated, stalled US deals, shrinking Pay-1 licensing windows, and a growing rift between premium and mid-budget titles. High production and distribution costs are driving greater selectivity among studios and streamers, leaving many films without buyers in the North American market.
Despite record attendance and renewed energy on the Croisette, the Cannes 2025 Film Market is operating under the familiar strains of soaring acquisition costs, and a struggle to reconcile rising budgets with narrowing margins. For buyers and sellers alike, the market is less about glitz and more about financial clarity, pricing discipline, and navigating global distribution headwinds.
The slowdown in packaging during the first half of the year, has led to a stronger-than-usual Cannes lineup. The market is flush with well-developed packages and finished films with genuine theatrical potential. With more robust slates from top sales agencies and buyers reportedly ready to move on high-promise titles, Cannes 2025 could outperform recent years.
At this year’s Cannes, there’s a mix of optimism and weariness. High asking prices and low theatrical demand are notable. Streamers like Apple and Netflix lead significant acquisitions, sidelining traditional distributors. The market remains cautious, focusing on star-driven projects and strategic financial planning.
A significant concern voiced since the start of Cannes is the noticeable absence of US theatrical deals. This void has a cascading effect on international distribution. Films without a US distributor face deteriorating values over time, making it increasingly challenging to recoup production budgets.
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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