The Toronto Film Festival announced a while back that it would be offering a new film market, hoping to step into the gap left between Cannes and the Berlin Film Festival for North American executives. As the plan comes together, does it have what it takes for success? Our entertainment lawyer in the know, Blake & Wang P.A.’s Brandon Blake, looks at what it will take.
A New Market
This September will see the first edition of the Toronto International Film Festival Market. While the market is new, plans for it have been in the works for several years, and there has always been something of an informal marketplace at the festival.
With this formalization, however, they hope to turn Toronto into a global hub the same way the Cannes Market has been for decades now, and, in turn, also establish Toronto as a global hub for both TV and film. The festival will be headed by Charles Tremblay, a veteran executive and distributor who takes the title of Head of Market at the Toronto Film Festival. He most recently served as the President of Sphere Films, which he also helped to establish, and has worked with MUBI on their Canadian titles. He’s certainly no stranger to festival success.
For many, however, the question is, “Why Toronto?” Among North American offerings, it has possibly the largest global audience and has long been known for industry-friendly logistics. They plan to offer a “full-service” market, including curated screenings and an expanded buyer focus that will also include cross-platform storytelling.
Bringing the Market to Life
Since the pandemic threw a spanner in how the festival circuit worked, there’s long been a North American gap looking to be filled. Especially considering the changes we’ve seen to the film and TV industry itself in the same years. Toronto, already a high-traffic festival and in a good timeslot between the major markets, seemed ripe for this new development. Not to mention, of course, the “informal” market that has always been present at the festival. Particularly as it will offer an alternate option to films that would otherwise have to rush to meet the earlier Cannes deadline.
One major challenge, however, will be organizing the market screenings, so films that are not actually in play at the festival can still be presented to buyers. Currently, they are planning 400 slots, including a 2-day period before the festival officially opens. The Metro Toronto Convention Centre will be the locus for presentations, with a “fully walkable” layout planned, and an “innovation hub” for newer tech and IPs is also being added, to encourage that cross-platform movement for properties.
The first edition has 200 net new buyers that have been personally invited, on top of more regular attendees, and the response is reportedly strong. TIFF is expecting around 6,000 delegates for this edition.
The moment is certainly right for another market to fill the 8-month gap between Cannes and Berlin. Let’s hope to see the first edition lay the groundwork for future success.