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Fall fests jostle for pics, stars
The detours, dust and debris resulting from the massive construction under way at the Palazzo del Cinema - home of the Venice Film Festival - are an apt metaphor for the new challenges facing this year's fall festival season.
There are dramatic physical changes at the Toronto Film Fest, too, as the event moves from the tony Yorkville neighborhood to its new home at the Bell Lightbox, an airy, modern space in an arty area of downtown.
But the challenges facing Venice and Toronto, along with Telluride, extend far beyond the physical and explain why this fest season could be unlike any other. The economic collapse of 2008 has finally caught up with the output of films - - and with buyers.
The indie scene remains in a state of extreme flux, with Apparition, Miramax and Overture the latest to land on the endangered species list. That means even fewer U.S. buyers.
In this climate, nearly all companies are sending fewer staffers to festivals. For American films, fall fests are all about creating buzz for pics in advance of awards season, but companies are strategizing more carefully.
Paramount, for example, has decided not to take David O. Russell's "The Fighter" to Venice, Toronto or Telluride. That's because the film - toplining Mark Wahlberg and Christian Bale - doesn't open until Dec. 10, and Par feels it would be too hard to keep up the momentum.
Two or three years ago, a distrib wouldn't have thought twice about taking a December film to fall fests, but as marketing budgets have shrunk, sacrifices have to be made.
If there's a bright spot for Venice, Telluride and Toronto, it's that there should be a glut of premium product...