Low-Budget Film Acquisitions Drive Studio Competition and Theater Attendance
1 report, 1 independent
Updated Sep 21
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What happened
At the 51st Toronto Film Festival, a bidding war took place for a low-budget breakout hit. IFC was selling Josh Giuliano’s film *River*, which was acquired by Blumhouse/Universal in a deal valued at over $10 million. Major interested parties in the bidding included Sony, Focus, Paramount, A24, and Netflix.
From deadline.com
Why it matters
The competition among major studios and independent production companies for genre material is intensifying. This trend suggests that successful acquisitions of low-budget genre films are viewed as a key factor in maintaining local theater attendance.
A24 has achieved a successful independent market presence in genre cinema.
From deadline.com