The commercial value of the International Film Festival

The International Film Festival is a branch of the cultural industry,  with the establishment of the film trading market, matures in the film festival’s profit model, and the film market has become a new unlimited type of economy business. Dutch scholar Marie de Falk pointed out (2014) that the film festival is a protector of film art and a promoter of the film industry, and since the 1980s the film festival phenomenon has been thoroughly specialized and industrialized. The commercial function of the festival has become more prominent with the development of history.

The commercial function of the festival is mainly derived from the film trading market opened  and the commercial activities . The International Film Festival is an efficient information exchange and resource distribution center. Through its project venture platform, movie trading market and other commercial activities, it provides financing, negotiation, project incubation and publicity for film projects from all over the world. copyright and factor trading in one commercial operation system. For filmmakers who lack funds but have good themes and ideas, they may solve the funding problem to a certain extent by applying for funds or pre-sales during the film festival, so that the film can be born smoothly and go to the audience. At the same time, the opportunity to apply for fund application and program pre-sale at the International Film Festival can also attract the attention of the international market, play a certain propaganda effect, and create a reputation for the future distribution of the film.

The International Film Festival plays an important “window role” of creating a symbolic and reputable capital to profit from a series of value-added media. The International Film Festival is often the first stop for all kinds of films to enter the market, and it has become a “knock-knock” to open up various value realization channels. The International Film Festival often has strict standards in the film selection.  Therefore, the authority and professionalism of the International Film Festival provide important protection for both buyers and sellers. At the same time, during the film festival, professionals and enterprises in various fields of the film and television industry gathered at a high density, which can produce economies of scale, greatly reduce transaction costs of all parties, and improve the effectiveness of communication and the success rate of transactions.

Secondly, through the international film festival awards, screenings, forums, transactions, venture capital and other links, industry information is frequently exchanged and disseminated, and the professionalism and authority of the film festival make this information have important value after integration, and promote the development of the industry and Adjusted wind vane, because the International Film Festival brings together some of the best international works, the latest technologies and concepts, and has a certain exemplary effect. Especially in the premise that there is still a technological gap between developed and developing countries, the demonstration effect of the festival can bring about technological spillovers, through exchanges and transactions, in the latest types of shooting equipment, digital projection equipment, post-production effects, high-tech In terms of technical personnel training, the introduction of technology and services from developed countries has promoted the overall production level of the film industry in developing countries.

Reference:

Falk, M. d., 2014. Film Festival as a new research object. Film Arts, Volume 5, p. 110.

 

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