Sundance's identity crisis might be good for Hollywood. __ChrisLee reports
. He’s optimistic that 2023 could represent a watershed for the festival, heralding a kind of industry-wide rightsizing after a period of acquisitions imbalance. “The last several years have been extremely good but, in a way, very polarizing,” Sloss says. “We’ve had really, really big sales on the high end. And then there were a number of films that either sold for not much money or not at all. What I’m hoping is that this year offers some kind of correction.
On the flip side, one consummate Sundance insider feels the festival faces almost impossibly high expectations as both a discovery showcase and movies marketplace while things return to a new normal. “This is a crucial year for the festival,” says this insider, who estimates Sundance ’23 will operate at 80 percent the capacity of its pre-pandemic days. “Any time an event like this gets paused for any length of time, it will inevitably be altered and changed.
Unlike previous years, competition titles will premiere theatrically in Park City then arrive online for virtual ticket holders a few days later . Hence, questions remain as to whether the kind of in-real-life “Sundance bounce” that resulted in eight-figure bidding wars for titles such aswill continue apace or if film distributors will choose to do business virtually and forego sending executives in person, thereby draining Sundance of some of its magic.
Undiminished by the festival’s online-only editions, however, is Sundance’s renown as a forum for nonfiction film — what one veteran sales agent calls “arguably the most important documentary marketplace in the world.” Exhibit A: In 2021, Ahmir “Questlove” Thompson’s directorial debut,, claimed Sundance’s Documentary Grand Jury Prize then was acquired in a joint deal by Searchlight and Hulu for more than $12 million; it went on to win the Best Documentary Oscar last year.
, a “documentary thriller” about the Russian opposition leader, premiered at the festival in 2022 and is considered a likely Academy Award nominee.
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