The headline says it all:
From Variety:
Attendance drops at AFM
Market buyers down 6% for L.A. film event As one buyer told me, "You could practice archery on the second floor."
Year after year, the attendance has decreased at AFM. But this year the difference was notable. I had about half the number of meetings I would have at other markets. Most of the buyers I spoke to said they were leaving on Sunday, halfway through the market. By Monday and Tuesday, the only people wandering the halls were producers desperate for money trying to find money for their ill fated projects.
What is the cause?
Some of the blame can be placed on the global financial crisis. Asian buyers are usually a large presence at the market. But they have been hurt hard by the financial crisis.
But there are other factors at play as well that I have touched on previously.
What is the solution?
The length - The market is way too long. Maybe back in the heydays of the 90s their might have been enough product to warrant a seven day market. But nowadays, most of the markets are shrinking to four or five day events. AFM should really be a Wednesday to Sunday event.
The timing - I know they will never move the market back to February. But the timing of the market is horrible. It's right after Toronto and MIPCOM. Most of my buyers I met with a few weeks prior so it makes no sense to meet again a month later. I know they originally moved it from February because it was too close after NATPE and Sundance. I know timing will be bad regardless. But looking back, it makes sense to have a market midway between Toronto and Cannes. And next year, with the possibility of MIFED coming back, AFM is going to have to change strategy in order to stay relevant to the international film community.
Location - I know that Santa Monica has been home to AFM for a long time. But personally, I think that they should think about moving it. The city, the theaters and the hotels have all become rundown. Where to move it to? Hollywood becomes an option. You have the Mann 6, Hollywood and Highland and the Arclight all down the street from each other. And you have the Renaisance and the Roosevelt hotels just down the street. That also makes it easier to have the tie-in to the AFI Film Festival, a tie-in that has never really been all that effective since they are across town from each other. Or they could do like the LA Film Festival has done and move to Westwood. I love the new setup of the LAFF. It's so much more convenient and everything is within walking distance. It's a lot more convenient than trying to cram into the Sunset 5.
We'll see what the market looks like next year. Next market up for us is NATPE, which isn't a huge priority for us. There's a bunch of smaller markets but nothing huge until MIPTV and LA Screenings in the Spring. So now it's just a matter of cleaning up the outstanding deals and gearing up for the Spring.
If you are out of a job and looking for work, my heart goes out to you. Most of the big companies won't be hiring anyone until after the first of the year. Right now is a very tough time in the film business. A lot of companies have been announcing layoffs, including Lionsgate, The Weinstein Company, Canwest and more. It's even been affecting the international buyers as well. Despite what they want you to think, we are in the midst of a global recession. So it's time to hunker down and try and wait it out.