Well into its second week, TIFF 2025 is shaping up less as a buying frenzy and more as a barometer for where the independent business is heading. Deal volume remains lean, but the festival has already produced a $15 million bidding war for a Midnight Madness horror and a seven-figure North American deal for Gus Van Sant’s “Dead Man’s Wire.”
As TIFF celebrates its 50th anniversary, the festival spotlights what might be its most resilient genre amid a fractured marketplace: horror. With shrinking screen counts, compressed Pay-1/Pay-2 deals, and younger ticket buyers pulling away from theaters en masse, horror remains a rare safe-haven—cheap to produce, reliably engaging, and buoyed by fervent word-of-mouth among young theater-goers.
Toronto’s 50th anniversary edition arrives with independent distributors weighing risk against opportunity. Theatrical remains a tightrope, Pay-1 and Pay-2 license fees are under pressure, and negotiations are slower across the calendar. Yet a sturdier acquisitions slate, a pair of well-capitalized newcomers, and a crop of commercially minded titles suggest TIFF could regain some of its old deal energy.
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