AFM '93; AFM gets high marks
So went the mostly unanimous chorus of approval from foreign buyers, mainstream to specialized, for the American Film Market, which winds today.
Unlike previous markets that petered out midweek, key sellers were jammed with meetings at the Loews Santa Monica Beach Hotel through early yesterday evening, indicating that lots of negotiations are going right to the wire, and underscoring the general buoyancy of business here.
While none of the completed films screened at the market created a big stir, there was a lot of heat for a raft of upcoming A titles, solid biz for well-crafted B product, and plentiful trading of some foreign-lingo fare.
Most buyers polled by Daily Variety nominated Turner Pictures' $ 35 million Macaulay Culkin starrer "The Pagemaster" as the standout, although some griped about the pricetags. Two British distribs said $ 3 million for U.K. rights excluding TV, and with tough back-end terms, was too steep.
"It's been great business," said Gordon Steel, L.A.-based rep for 21 overseas distribs. Steel noted a paucity of good completed films but said the AFM was "great for potential films."
"Our clients were not thrilled with anything but they're happy with their purchases," said Kelly Green of Bjorck Film, another buyers' representative. Prices for the most sought-after films were very high, Green said, adding, "We spent a lot of time negotiating prices down. Some (films) we lost."
The U.S majors had their international scouts prowling the corridors, and some sounded as bullish as the indies.
"This market was jumping, one of the best AFMs I've been to," said Jere Hausfater, Buena Vista Intl. VP acquisitions and business affairs. Looking primarily for European films, he said he has a number of deals pending, some for all rights, others for video only.
"There are some very interesting pictures from Germany, France and Spain. Indigenous producers are stepping up budgets and quality because they have to compete with U.S. films," Hausfater said.
Sellers reported a healthy appetite for product and a readiness to deal from buyers worldwide, although France and Italy were widely rated as the toughest of the major markets.
Koreans were more numerous (repped by 50 companies, one more than the Japanese contingent and up by 10 from last year) and acquisitive. Korean buyers filed in and out of CIBY Sales' office for several days haggling over Bernardo Bertolucci's "Little Buddha" while CIBY exex labored to nail down a deal.
American Film Marketing Assn. stats showed a total of 763 buying companies and 1,635 registered buyers, little changed from last year's 787 and 1,606, despite the recession and the travails of many indie distribs.
Summit's new chief Patrick Wachsberger characterized the market as "amazing" as he relished pitching a clutch of high-profile, high-budget pictures.
Lots of deals
He closed a lot of deals on John McTiernan's "Die Hard 3,""Tombstone,""The Color of Night" and "House of the Spirits." In some cases he's in no rush and said he's taking a breathing space to ponder how to structure deals in territories like Italy.
He noted France isn't an easy market but he said he expects dominant Gallic web TF1 to emerge as a major player dealing in all rights.
With homevid flat in many territories, Wachsberger said TV is becoming a more important element. Distribs who pay top dollar for an A-title can package it with a bunch of B-grade titles for TV and "make their money," he says.
The price not right
Dr. Herbert Kloiber of Germany's Tele-Munchen complained loudly about prices. "A ridiculous market -- we were put off buying by a lot of the prices," Kloiber said, listing his sole major purchase as "A Good Man in Africa," Bruce Beresford's $ 18.5 million comedy starring Sean Connery (who'll appear in nine scenes) and Aussie Colin Friels.
German distribs historically were asked to put up 8% of budgets. At the AFM sellers were looking for 10%, which meant prices ranging from $ 1.5 million to $ 3.5 million, Kloiber said, adding, "I'm not interested in going for that crapshoot."
His views were echoed by Jacopo Capanna of Italy's Artisti Associati. "We're chasing four or five really good pictures," he said, while noting that asking prices of $ 2 million-plus for Italy are "close to unaffordable."
In the B-grade arena, Trimark Pictures closed a spate of deals for its slate, headed by "The Deadfall,""Philadelphia Experiment 2" and "Warlock: The Armageddon."
Trimark handles pictures budgeted at $ 2 million to $ 5 million that have "strong video value, are playable on pay- and free-TV, and most have a crack at theatrical release," said Sergio Aguero, VP of international sales.
Aguero said many markets are tough because distribs are very selective and are no longer willing to buy packages.
At the art-house corner of the market, distribs enthused about the quality and quantity. "This has been the best market of any sort in the world," raved John Hogarth of Britain's Mayfair. Hogarth nabbed Spanish pix "Belle Epoque" and "How to Be a Woman and Not Die in the Attempt," Italo titles "Puerto Escondido" and "The Stolen Children," and Belgian production "Daens."
Said fellow U.K distrib Romaine Hart of Mainline: "When I left (the AFM) last year I was despondent. This time there's a lot of good films and I have more on the boil."
