The American Film Market attendees wrapped up a businesslike week with record numbers, had a ball at the pool parties and left with high spirits, despite strike

By Juontel White

HOLLYWOOD, CA (Hollywood Today) 11/8/07— Strike? What strike? That was the mood of many buyers and producers at the record-setting 28^th Annual American Film Market (AFM) as it ended its 8-day run in Santa Monica Loews Hotel Wednesday. More than $800 million in deals were sealed with 8,343 film industry professionals in attendance.

Buyers attendance increased three percent making this the fourth consecutive year AFM has reached full capacity in its Loews Hotel venue.

While the current writer’s strike and possible actors strike in June was a conversation piece for many, few paid it more than lip service, saying it would be settled before it affected them – not unlike what studio and network producers said last week before their sets went dark and production deals were suspended.

“The writer strike will not affect the business,” said Avi Lerner, chairman of indie giant Nu Image, which bought Focus Features this year. “Thousands of writers that are not part of the guild will get their breaks and we will buy scripts from them.”

Many officials say they were only mildly affected by the strike, although next year’s anticipated actor’s union strike is expected to make a greater impact on business.

The overall view of AFM, in comparison to previous years was that “it was better than usual,” said Adam Welles of Fries Film Group.

This year’s increase in attendance from North American buyers along with the strong attendance of overseas buyers proved profitable for the film company participants.

Overseas buyers bought up rights for their territories at bargain prices, given the historically low dollar against the Euro. This weak U.S. dollar meant that international buyers could buy more films with a set budget – while US producers filled their production coffers at a brisk rate.

Such a bargain did not influence buyers to purchase an abundance of film and media, however, because they were interested in the quality of films not the quantity.

“This year there were a lot of good films,” said one buyer who did not want his name published, “but you only want to buy what you’re interested in whether that be action, comedy, horror, etc.”

An executive from Adriana Chiesa Enterprises SRL, an Italian film company, said that in addition to film purchases (in the form of distribution and media rights) businesses were encouraged to buy location travel packages.

Puerto Rico and Brazil, for instance, offer tax break incentives for film directors who shoot their movies in specific locations of those countries.

However, these tax-breaks are beneficial to filmmakers but not distributors. “Exporting is a hassle,” said Welles. “It’s something have to pay those international export rates.”

Because of the weak U.S. dollar, exports from North American soil means having to pay nearly twice as much as average tax rates overseas.

Overall, several hundred filmmakers, buyers, and media attended AFM. And, approximately 70 different countries were represented.

The series of events included the market, consisting of several floors of “offices”—hotel rooms each designated to a particular film company and of which the room door remained open inviting buyers to come in and strike a deal.

It also included 16 panels with over 100 film executives as speakers. Next year’s AFM will be held Nov. 5-12 in the same location: Loews Hotel and its next-door-neighbor, Le Merigot Beach Hotel in Santa Monica.

Photo courtesy of Bonnie Voland