Sundance: “I don’t even understand these valuations,” one distributor mused privately. “I don’t get how these tech companies are justifying these prices. It’s a different business from the one that I’ve been working in'
It was, to quote a certain Victorian author, the best of times and the worst of times at the
That paradox — are independent movies getting bigger or smaller? — cast a shadow over Sundance. On the plus side, Sundance did see its largest deal ever, after Neon and Hulu splurged a whopping $17,500,000.69 for “Palm Springs,” a comedy starring Andy Samberg in an updated take on “Groundhog Day.”But that transaction also seemed to capture all the tensions of the Sundance market — and by extension, the independent film business.
Elsewhere, the reception to movies was much colder. As Sundance crawls into its closing days, a majority of the 100-something titles that screened in the snowy theaters of Park City are still actively seeking distribution. Many agreed that the narrative features that played were not as strong as they had been in other years, nor as powerful as they need to be to break through the hurdle of getting moviegoers to buy a theater ticket.
There also seemed to be cold feet, and not just because of the snow that had landed on the ground. Netflix, which is distributing the Swift film and the opening night documentary “Crip Camp,” didn’t buy anything during the festival. As of now, IFC, Roadside, Bleecker Street, and several other players have yet to unveil any big pacts.
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