TIFF Sales Sluggish Despite Films With Sydney Sweeney and Ben Stiller on the Market
Despite star-studded films featuring Sydney Sweeney, Jude Law, Ben Stiller and Tom Hiddleston on the market, sales at the Toronto International Film Festival have been sharply disappointing this year.
With the exception of Netflix nabbing worldwide rights to “Nonnas,” a comedy directed by Stephen Chbosky and starring Vince Vaughn, in a deal reported at over $20 million ahead of the festival, sales have been nearly non-existent.
Industry insiders point to the shifting landscape in film distribution and a cautious approach from buyers as the reasons there haven’t been any splashy sales yet. “We’re observing some softness in the market at TIFF,” Julien Levesque, a film finance agent at Gersh, told TheWrap, underplaying a sentiment shared by other dealmakers at the festival.
The sluggish sales environment was anticipated, as TheWrap reported ahead of the festival, but is still something of a surprise when it comes to the high-profile films still up for grabs. Ron Howard’s drama “Eden” starring Jude Law and Sydney Sweeney, and the comedy “Nutcrackers,” featuring Ben Stiller, were among the most anticipated titles and both would appear to have built-in marketing appeal. “Eden” has a starry cast and “Nutcrackers” is Stiller’s first onscreen role in seven years. Both films remain unsold as the festival barrels into its closing weekend.
A top dealmaker told TheWrap that while multiple unsold titles have offers, “it doesn’t mean they are good offers. The reactions to the films have been great. Most of the other films without offers are much more expensive and/or mostly dramas.”
There are signs of some deals on the horizon. The Paul Rudd/Tim Robinson comedy “Friendship” has buyers circling with multiple offers, TheWrap has learned. Additionally, according to insiders, multiple domestic buyers are circling the well-reviewed “Life of Chuck,” and a deal may soon close on Mike Flanagan’s feel-good Stephen King adaptation. But beyond that, it’s slow out there.
Levesque said the TIFF market is a reflection of the independent film industry at large.
“This diminished appetite reflects the film industry’s overall state of flux,” Levesque said. “Independent filmmaking, in particular, is experiencing a lag in responding to market shifts, and production hasn’t yet realigned with current demand.”
This was true at the Sundance Film Festival earlier this year, where what is normally a feverish market turned out to be downright dull. Some deals were made, but largely for films with a genre hook, or tearjerking documentaries.
Last year, Netflix scooped up Richard Linklater and Glen Powell’s “Hit Man” in Toronto for $20 million after its splashy premiere. But while TIFF isn’t traditionally as busy for film sales as Sundance or Cannes, it’s still unusual that there haven’t been any major studio buys after the opening weekend premieres. The most significant in-festival acquisition thus far has been for the action epic “William Tell,” starring Ben Kingsley and Claes Bang, which was picked up by Samuel Goldwyn Films for a 2025 release.
“Nonnas” was originally slated to premiere at TIFF but was pulled from the festival after the sale and is eyeing a release from Netflix in 2025.
Other deals have materialized, but at a slower pace. Sony Classics scooped up “Jane Austen Ruined My Life” on the Tuesday before the festival began. And films that played TIFF after the Venice Film Festival found buyers, buoyed by awards from the Italian festival. Sideshow and Janus Films scooped up “Vermiglio,” Maura Delpero’s period drama set in World War II Italy, after it won the Silver Lion Grand Jury Prize. And A24 secured rights to “The Brutalist,” Brady Corbet’s three-and-a-half-hour saga starring Adrien Brody and Felicity Jones, also following its success at Venice where Corbet won Best Director. The sale price was not available.
The top dealmaker offered a more nuanced perspective on the state of the market. “There are some buyers not looking at all and some only looking for certain things that aren’t likely at TIFF,” this person said.
Despite the overall quiet, hope still remains for post-festival deals at TIFF. An acquisition executive at a major studio told TheWrap that it looked like deals might materialize after the festival, mirroring what happened at Sundance. “There are some good films but nothing that has folks feeling like there’s urgency,” the insider said.
Several films at TIFF boast strong marketing hooks that could potentially attract buyers. The aforementioned “Life of Chuck” stars Hiddleston and can boast that it’s a Stephen King story in the vein of “Stand by Me.” “The Cut” showcases Orlando Bloom’s dramatic 33-pound weight loss to play a retired fighter who will stop at nothing to get back in the ring. And “All of You” is a rom-com co-written by and starring “Ted Lasso” standout Brett Goldstein.
Then there’s Pamela Anderson’s star vehicle “The Last Showgirl,” about an aging Vegas showgirl that got strong reviews. The former “Baywatch” star told TheWrap she hadn’t been offered a good script in her life until the Gia Coppola film came her way. “It just felt like such a such a transformation that I needed to make, and it was very healing” the actress said. “There’s so much about it that really changed my life for the better. I needed it so bad.”
These films, with their built-in audience appeal and marketable elements, may yet find buyers, and last-minute deals could still materialize as the festival draws to a close. But as for studios plopping down wads of cash to outmaneuver rivals after a buzzy screening, this year’s festival is not the place.
Jeremy Fuster and Adam Chitwood contributed to this report.
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