Firstly international film festivals are able to impact the local movie industry. The film festival was born with the expectation of promoting and stimulating the local film industry. The film festivals can give local film industry plenty of recognition and attention brought from the outside world. It will also promote the communication with regard of development of local film industry.
Secondly festivals promote the local exchange of culture and commercial trade regarding world films. The increasing number of emergence regarding international film festivals demonstrates that the film industry growingly needs a platform for cultural exchanging. In the part of exhibition, audiences and filmmakers are able to see the films which can not release in local area. Through the cultural exchange film makers and relative people can enhance and expand the comprehension about different countries’ development of film industry.
In addition, when it comes to the information exchange, the festival also has a real trading market, which provides a very good platform for film people to get acquainted with more industry contacts, find overseas distribution opportunities for their works, and create other profit channels besides domestic box office.
Specifically speaking, from the micro dimension perspective, film festivals have the function that fosters project, cultivates new forces. In additional, the young filmmakers who have great originality but lack of fund support, a creative and international film festival will, to large extent, help these young generation in the way of establishing a platform where the filmmakers may apply to the relevant film fund support or take part in the some movie project in order to solve the found problem. Based above method film can be shoot smoothly for these filmmakers, and participating in the festival is able to attract international attention from outside, which help the films kick into the mainstream market as well as grab the audiences.
From the dimension of medium, the film festival can be thought of as a beacon for the film industry. The festivals, to some extent, are able to guide the creation of art and adjustment about industry demand structure.
Especially the world top film festival such as Oscar，Cannes international film festival and so on are able to gather the best movies from all over the world.
These films represent the top level ranging from the artistic quality, ideological content to film making technology and become the world’s countries filmmakers learning model, in terms of promoting the film art of cross-cultural communication. At the same time, filmmakers predict the tendency of future marketing and adjust the style of their film as well as make new sales program according to trade price, difficulty of transaction in the festival.
From a macro perspective, film festival greatly drives the development of the host city’s industrial chain. Hosting a film festival involves local tourism, hotels, catering, transportation and other aspects, which means it can increase employment opportunities and generate huge economic benefits. Take the Cannes film festival in recent years as an example. The input of the film festival is around 15 million euros, and the direct economic benefit is 100 million euros, while the indirect economic benefit is as high as 700 million euros.