The 2024 American Film Market (AFM) marked not only the 45th edition of this world-renowned film and TV content event but also its inaugural run in Las Vegas. Moving from the familiar shores of Santa Monica to the glitzy Palms resort, this new AFM setting brought mixed reactions. For some, the single-venue convenience and international flair of Las Vegas were unbeatable (because, well, Vegas, baby!). But for others, there was a touch of nostalgia for the old Santa Monica vibe.
In any case, AFM in Vegas signals a new era for the market. With nearly 300 companies from over 30 countries participating, the event offered a global snapshot of the industry—and the Allrites team has some noteworthy insights to share.
They say, "What happens in Vegas stays in Vegas," but not this time! Let’s dive into the trends and takeaways straight from AFM 2024.
It’s 2024, and It’s Not Only About Hollywood Anymore: Spain and China in Focus at AFM
If MIPCOM set the stage for Spain’s growing influence by naming it the “Country of Honour,” AFM followed similarly. Spanish productions continued to command the spotlight, with multiple sessions dedicated to the country’s thriving content scene. It’s no surprise that Spanish-language series and films are capturing audiences far beyond Spanish-speaking countries. In case you missed our MIPCOM wrap-up blog, we covered data showing a 40% growth in U.S. and Canadian demand, 56% in LATAM, and a 100% surge in Asia. The appeal lies not only in their authentic storytelling, relatable themes, and grounded narratives but also in tangible advantages like Spanish tax incentives for producers—a factor we previously highlighted in our blog. Spain’s impact on the global market is unmistakable, and AFM solidified its role as an actual content powerhouse.
Meanwhile, AFM 2024 saw China making waves in the industry with a strong presence. Over 200 Chinese film projects were showcased by a delegation of 55 top Chinese film organizations, marking a clear push to reach audiences worldwide. With their unique mix of cultural richness and universal themes like family, friendship, and resilience, Chinese films are finding an eager international audience. Even major Hollywood studios like Warner Bros, Universal, and Disney are paying close attention, eyeing distribution deals that could bring these stories to American viewers. We’ve discussed this trend in our previous article on the journey of Chinese film and TV in the global market, noting that while China’s film and TV industry is significant revenue-wise, its international success is still growing.
The focus on Spain and China at AFM reflects a more significant trend: international content is taking center stage, winning over diverse audiences with fresh perspectives and compelling stories. Due to globalization, migration, and shifting viewer preferences, audiences today are increasingly drawn to content that reflects diverse cultures or even their heritage while living abroad. With Spain’s captivating authenticity and China’s culturally resonant themes, these two countries are proving that a whole world of storytelling is ready to be explored.
In a Tech-Driven Market, Sales Agents Bring the Human Touch
One of the standout sessions our team attended at AFM 2024 was a panel on international film sales, where sales agents shared their insights into the ever-shifting landscape of film distribution. A key theme that emerged was the challenge of making accurate sales projections, especially in today’s rapidly evolving media environment. With technology and new distribution platforms constantly emerging, projections can look very different over 18 months. One agent noted, “Our assumptions can quickly change course with each new platform and tech advancement.” This fluidity in projections means that strategies must be flexible and adaptable, as what works today may need tweaking shortly.
Another crucial point was finding financial comparables (or “comps”) for films, often used to estimate a project’s potential revenue. Streaming companies, which hold the most relevant data, keep these numbers closely guarded. As highlighted in a recent article by AMT Lab, viewership data on platforms like Netflix, Hulu, and Amazon Prime Video is tightly controlled and rarely disclosed. This secrecy stems from these platforms' desire to protect their competitive advantage and prevent outside parties from estimating the value of their content. Independent filmmakers and sellers face significant challenges in assessing their film’s potential market performance without access to this crucial data.
Interestingly, with all the recent emphasis across TV content markets on AI, machine learning, and other technological advancements, AFM underscored the irreplaceable value of human expertise in film sales. Sales agents play a pivotal role in this context, acting as the “closest to the ground” and observing daily shifts in pricing, demand, and trends. Their nuanced understanding of the market allows them to be flexible and responsive in ways even the most advanced technology cannot replicate. This on-the-ground knowledge makes them invaluable to filmmakers aiming to position their projects strategically. In a landscape defined by constant change, the insights and adaptability of seasoned professionals remain as essential as ever.
What’s Selling? Professionals Talk Genres and Narratives at AFM 2024
Some AFM sessions focused on what’s currently selling regarding genres, themes, and broader trends.
Despite the shift toward new and diverse genres, the classic action genre remains a top performer, holding steady in its global appeal—a point supported by industry professionals and recent data from Parrot Analytics. Alongside action, family films, faith-based stories, and romantic comedies—particularly those with leads who share genuine on-screen chemistry, regardless of celebrity status—are experiencing renewed interest from buyers. This change likely stems from the rise in co-watching habits that emerged during COVID-19 and have since become part of the new normal.
At AFM 2024, industry experts emphasized the growing importance of authenticity in storytelling. A recurring theme was the increasing value placed on authenticity and intrinsic meaning in films, with buyers drawn to projects that offer genuine perspectives and reflect real-life narratives. Authenticity and representation remain significant topics in the film and TV industry, especially as diversity unfolds in front of and behind the camera. However, challenges remain in telling unbiased, non-stereotypical stories, though steady progress is evident.
A prime example of authentic storytelling in both content and production is CODA, directed by Siân Heder. This film is about a deaf family, featuring deaf actors in crucial roles, and honestly portrays the characters’ lives and challenges. CODA achieved critical acclaim, winning the Academy Award for Best Picture in 2022. Its success highlights how genuine representation can add depth and meaning to a film, reaching audiences in ways that leave a lasting impact.
About allrites
Located in Singapore and operating globally, allrites is a premier marketplace for buying and selling film, TV, and sports rights. We provide a vast catalog of Film and TV content, from major studios to independent producers, available in any language and genre. Our innovative licensing models, including allrites Content-as-a-Service, offer flexible and efficient solutions for content monetization and acquisition, accommodating the evolving needs of content buyers and sellers worldwide.
Contact us to learn more about us and our revolutionary CaaS model.
About ContentX by allrites
ContentX is a new solution designed to create fresh revenue opportunities for both content rights holders and AI companies. For film and TV content rights holders, it allows them to unlock new streams of income by distributing and licensing their content across a wider range of platforms, maximizing its reach and potential. Meanwhile, AI companies can leverage the vast library of licensed content available through ContentX to enhance their machine learning models, recommendation systems, and other AI-driven media technologies, opening doors for innovative partnerships and content utilization.
Learn more about ContentX by allrites here.
Comments