Magazine article Screen International

Damon: Cannes 2013 Lacking Riches

Magazine article Screen International

Damon: Cannes 2013 Lacking Riches

Article excerpt

While deals are starting to hot up at Cannes 2013, major buyers are less impressed with the offering than in previous years, agreed a FilmFinanceTV industry panel yesterday.

Foresight's Mark Damon, Judith Chan of bank Coutts and producers Phil Hawkins and Alexandra Baranska of UK production outfit The Philm Company were on the finance panel.

"What I'm hearing from international buyers is that this is not as rich in product as past Cannes markets," said Damon.

"We're all so dependent on pre-sales for financing that we all go for the same actors or directors who are considered sellable for higher budget films. That list continues to shrink. For independents today it's more difficult to mount a picture than in previous years, distributors are very cautious."

Damon acknowledged that a handful of projects were in demand, however, including his Spinning Gold set to star Justin Timberlake. …

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