TIFF Pre-Buys
Toronto 2016: Pre-Buys Prized As Festival Gets Underway
by Mike Fleming Jr
September 8, 2016 11:08am

Groundswell Productions
The fact that the first major deal at the 2016 Toronto Film Festival is for a film that isn’t here — Focus Features won the untitled ’50s London fashion industry drama that Paul Thomas Anderson will direct with Daniel Day-Lewis — underscores how profoundly the independent theatrical acquisitions has turned toward pre-buys of film packages. Toronto has always been viewed as a terrific place for distributors to launch Oscar-season films, and to supplement their slates with acquisitions of finished films. Deals were sluggish last Toronto: STX made the splashiest deal for Hardcore Henry, Bleecker Street got the top earner in Eye In The Sky and Michael Moore’s docu Where To Invade Next was done in by his insistence on bypassing Netflix for a theatrical release and then being walloped by pneumonia and unable to promote it.
I am getting the impression that buyers are ready to be wowed, and that there will be several large deals either during the festival or right after. If I had any advice, it would be for buyers to consider extending their return trip if it means missing Birth Of The Dragon, which won’t be screened until 3 PM Tuesday at the Ryerson, and probably won’t last until subsequent screenings are set for L.A. I saw the picture, part fact and part fable about a legendary brawl that Bruce Lee fought against Shaolin master Wong Jack Man. The George Nolfi-directed film from Groundswell is a throwback to the spirit of Lee’s ’70s martial arts hits and has real breakout mainstream potential even if the most recognizable stars are the characters of Lee and Steve McQueen.

Pablo Larrain
There will also likely be a quick deal for the Pablo Larrain-directed Jackie, the drama that stars Natalie Portman as Jackie Kennedy as she secures her husband’s legacy in the week following his assassination. The picture got exquisite reviews in its debut at the Venice Film Festival and offers are coming in. Buyers have been primed for the picture since Cannes when promo footage was shown, even though they didn’t bite back then.
That pre-buy restraint is changing. There are plenty of finished films here that are high on buyer lists, but don’t be surprised if some of the biggest sales come in unexpected places. All of the major agents — who preface festival conversations by counting all the pictures launching here that they packaged in pre-buy deals — tell me they’ve got a few plum projects in their pockets. Strong sales candidates not on the Toronto slate include The Leisure Seeker, the Paolo Virzi-directed romp that stars Helen Mirren and Donald Sutherland as a couple that takes an adventure in a Winnebago. Another is We Do Not Forget, the Zach Helm-directed drama that stars Daniel Radcliffe and Zachary Quinto in a fictionalized showdown between hacker activists and a ruthless Mexican drug cartel. Other promos buyers will see include the Danny Strong-directed JD Salinger drama Rebel In The Rye with Nicholas Hoult, Kevin Spacey and Laura Dern starring. Others I’m hearing rumors of include the Fernando Trueba-directed The Queen Of Spain with Penelope Cruz.

Rex/Shutterstock/Associated Press
Other possible surprises could include packages like I, Tonya, the drama that will have Margot Robbie playing disgraced Olympic figure skater Tonya Harding, with Craig Gillespie directing. That picture is looking like a real thing with financier Len Blavatnik circling, with shooting likely to start early next year. There are plenty more where that one came from.
Some reports have painted a picture of caution caused by the hardships facing the record-setting Sundance film The Birth of A Nation following Deadline’s revelation of a 17-year-old rape charge against filmmaker-star Nate Parker (he was acquitted). Buyers and agents don’t expect it to be a factor as they look for slate-filling films. The glare on Parker because of the circumstances of the incident and the subsequent suicide of the woman 12 years later certainly tarnishes the charmed Oscar track the picture was on, but it is a total anomaly. Distributors need quality product and seem willing to pay for it, as evidenced by the way Focus stepped up on the PTA-Day-Lewis film which constitutes roughly twice the financial outlay of Parker’s Sundance film.
The other area worth watching is Midnight Madness, where some of the most profitable genre titles are hatched. Sony Pictures Worldwide Acquisitions president Steven Bersch reminds that finding those frightful gems isn’t easy. Bersch is riding high on the genre thriller Don’t Breathe, but the title of his Toronto experience ought to be Don’t Sleep.
“I remember when we bought Insidious,” he said. “It was my second or third Toronto, so I still had the energy, but this was my fifth midnight movie in a row, on a Tuesday night. The reason we got it is, everybody sent junior executives, but I dragged myself there. While everybody was sleeping, we were making a deal, with FilmDistrict doing domestic, and we closed at 6:10 in the morning. Everybody woke up hearing it was pretty good, but by then it was gone. We just announced Insidious 4, so it was worth it, but it isn’t easy.”
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