Festivals Entering the Distribution Realm
Slamdance announced their entry into the distribution game earlier today. According to their release:
Leveraging the brand-name recognition accrued by ten-year-old Slamdance Film Festival, Slamdance President and co-founder Peter Baxter has joined forces with veteran film and television producer and talent-manager Robert Schwartz, and Cleveland-based businessman George Ketvertis to launch the Slamdance Media Group. The company, which will comprise distribution and talent-management units, has pacted a home-entertainment output deal with Ventura Entertainment, a division of independent giant Ventura Distribution, to sell product under a new, branded Slamdance label. The theatrical distribution unit, to be known as Slamdance On the Road, has inked with ArcLight Cinemas for exclusive exhibition of the new company's titles in the Los Angeles market.
With brand recognition running high among top U.S. festivals such as Sundance, South by Southwest and the Tribeca Film Festival, it's really no surprise to see them morphing into specialty distributors. After all, Sundance has had a successful home video venture and premium cable channel for years.
Large, successful festivals bring important ingredients to the mix that give them a leg up in the distribution game:
1. They have established relationships with corporate sponsors to use as a springboard for promotional partners in new ventures.
2. They have a direct channel to secure a "first look" at new product.
3. They have large, highly targeted member/attendee bases ripe for ancillary product marketing.
4. They get loads of free press.
The festival business has grown from a cottage industry into a big business, with major studios often cherry-picking festival talent for studio exec positions. Festivals have also become an important part of studio release strategy in terms of marketing (getting advance word out about upcoming releases) and market research (using festival audiences to determine needed tweaks before a national release.)
Slamdance was one of the original Sundance piggy-backers, and have grown into a powerful force on the circuit in ther own right.
Expect more of the big boys to follow down this path in the near-term.
Related Link:
MCN Press Release: Slamdance Announces New Ventures
