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Heath Ledger's last film The Imaginarium of Dr. Parnassus may sell before Cannes
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Heath Ledger AP
As reported here last week, Heath Ledger's last film The Imaginarium of Dr. Parnassus was being shown at the Cannes Film Festival.
Film festivals are a bit like swap meets (bad analogy, but a correct one). Everyone brings out what they have to show to buyers in hopes of selling either that item or an item they are working on, or want to start work on.
Cannes is the grand-daddy of all film festivals. To be given a spot there is incredible and is the best chance a filmmaker has to sell his or her film. Don't get me wrong, it is also a showcase for established filmmakers to premiere their film. Taratino's Inglourious Basterds is premiering a Cannes this year.
So, I was a bit surprised when it was announced that the film helmed by Terry Gilliam would be taking a bow at Cannes. It has been entered as an out-of-competition film. One would think Heath Ledger's last film would be a very hot property. Even though it took three actors's, Jude Law, Johnny Depp and Colin Ferrel to step in and finish the film, it should still be highly sought after.
Dr. Parnassus was shown last night to several L.A. based execs by Cinetic (they are handling the domestic repping only as the foreign sales have already been done. AND, they expect and will probably receive somewhere in the seven figure range. I believe it will be way up in the seven figure range. One exec who planned on attending said picking up a marketable film that is already done and ready to go is cheaper than making one.
Selling large films outside of festivals is becoming a trend in Hollywood. The Rene Zellweger period comedy "My One and Only", was not taken to Sundance as was planned and instead was screen privately for distributors.
These economic times are making Hollywood step back and think about things like money, the cost of making a film from scratch. At festivals there has already been a crunch on sales. There was one film that sold for at least 4 million dollars, The Wrestler. Cinetic apparently doesn't want to take chances with a film that could sell for much more if they broker it outside of a festival.
If Dr. Parnassus sells outside of Cannes, the festival could be the premiere of the film, instead of a screening to try to sell the film. (Some information comes fromt The Hollywood Reporter)
I will keep you posted.
For more Indie articles check the National Indie Film Examiner.
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