Entering 5th Month Of The Strike, A Sense of Opportunity Grows Among International Content Producers

“It’s time to conquer the world market,” Cinecittà CEO Nicola Maccanico said at the Venice Film Festival.

During the initial stages of the walkout, there was a prevailing sense of anticipation. The entertainment industry in Hollywood contemplated the uncertain outcome. As the writers’ strike enters its fifth month and the actors’ strike in its third month without any signs of resolution, significant transformations are taking place. This situation has created a tangible opening for international productions to thrive in the industry.

The topic emerged as the subject of most conversations at the Venice Film Festival one week ago and now at the Toronto Film Festival. “If supply decreases with Hollywood on strike, we need to be ready with our products for the international market as well,” said Francesco Rutelli, president of the Italian national audiovisual association Anica, speaking at a panel in Venice. Nicola Maccanico, CEO of Cinecittà, said the time has come for international filmmakers to “conquer the world market.”

International producers, who are not restricted by SAG guidelines and have the advantage of accessing government subsidies and tax credits, believe they are in a favorable position to meet the production demand. “We can get movies made and big movies,” said Louise Vesth of Denmark’s Zentropa, a producer on Nicolaj Arcel’s Danish period epic The Promised Land starring Mads Mikkelsen, which premiered in Venice and is screening at TIFF (the film sold, pre-strike, to the Magnolia Pictures for the U.S.) “It looks like most buyers have enough movies to hold them through the end of the year but after that, there could be an opportunity.”

Source: The Hollywood Reporter