criterionforum.org

Distributors are already contending with a paradigm shift. The influx of deep-pocketed Netflix and Amazon, with their capacity to gobble up worldwide rights, meant that many of the highlights from the Cannes lineup came equipped with hefty price tags that most specialty distributors couldn’t touch. Within a day of French director Celine Sciamma’s acclaimed Competition entry “Portrait of a Lady on Fire,” the asking price had careen from high-six figures to over $1 million. Most buyers dropped out of the bidding process early on. The movie would eventually sell U.S. theatrical rights to Neon, which split the cost with Hulu.

As the dealmaking continued, several American buyers gathered at a beach tent party late one night, commiserating over the obscene price tags beyond their reach. “It’s fucking irresponsible!” said one buyer, raising his voice over blaring music from a nearby speaker. “It’s all Amazon’s fault, too.” Another buyer spoke up. “No way,” he said. “It’s Fox Searchlight! They spent $14 million on the Terrence Malick movie. Insane.”

Another buyer spoke up. “You mean Disney,” he said. “That’s Disney.”

There was a brief pause in the conversation, as the jarring bass of the speakers shook the tent, and the roar of the beach crowd blended to a hum. Finally, one of the buyers shrugged. “It’s all just so confusing,” he said.