CAA's Sutherland says US audiences now fuel market for international films
American audiences will now pay to watch international films. That was the message from Roeg Sutherland on Saturday morning, 26 September, at the Zurich Summit. Seven years ago, he said, that was simply not true.
Sutherland is co-head of CAA's media finance department and its international film group, the agency team that assembles loans and outside investment to get films made, according to Variety. He was speaking at the Zurich Summit, the industry gathering now in its 12th edition and running 25-27 September, according to Deadline. The event is staged at The Dolder Grand, according to the Zurich Film Festival.
There is more money available to finance films than ever before. Sutherland linked that to a rise in private equity, which means investment from funds outside the Hollywood studio system. That equity is coming from the Middle East, Asia and Europe, he said, according to Variety. For producers, that widens the search for backers beyond Los Angeles.
His example was La Bola Negra. The Cannes film from Javier Ambrossi and Javier Calvo sold for more money than CAA normally secures for an American movie, Sutherland said. That single sale says a lot about current prices.
CAA now pre-buys European films. That means agreeing to back distribution before a film is finished. The logic is commercial. Those films can be sold on the open market for more money than American titles, Sutherland said, according to Variety.
He named two other international titles CAA has helped finance. They are Emilia Pérez from Jacques Audiard and Fjord from Cristian Mungiu, according to Variety. Domestic here means the United States and Canada, the home market that used to dominate the equation.
Sutherland is a longtime supporter of the Zurich Summit, according to Deadline. He will be honoured with the Game Changer Award of the Zurich Film Festival, according to the Zurich Film Festival. The programme lists him as a speaker at this year's industry meeting, according to the Zurich Film Festival.
What makes this stand out for everyday viewers is choice. If international films fetch higher prices, more of them can afford a full cinema release. You do not need to follow the deal-making to feel that on a Friday night.
