The 76th Cannes Film Festival is set to kick off this week, and independent film companies are cautiously optimistic about the future of the industry. With the entry of streaming services, the market has flattened out and audiences are slowly returning to cinemas post-pandemic.
At Cannes, 12,500 industry professionals are expected to attend, with almost 4,000 films and projects on display. Buyers are being cautious about purchasing volumes, but they are showing up and being active.
The box office is still depressed, as older viewers have become used to watching movies from the comfort of home. However, there is hope that independent companies can fill the gap left by streaming services, as they offer something different to theatre audiences.
Apple is premiering Martin Scorsese’s “Killers of the Flower Moon” starring Leonardo DiCaprio at Cannes, and has teamed up with Paramount to release the film in theatres before streaming it globally in October. This could be a sign that other streaming services will follow suit, giving independent film companies more opportunities to succeed.