Netflix and Amazon, who were once touted as the saviors of the indie film market, are retreating from acquisitions to focus on producing more original 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.
It’s hard to imagine Amazon leaving Sundance this year with a big-dollar prestige film like years past.