Why Amazon, Netflix Ghosted Sundance Sales After Dominating Last Year

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Amazon Studios and Netflix pretty much ghosted this year’s Sundance Film Festival — acquiring no films just one year after dominating the indie marketplace with big-dollar acquisitions films like “Mudbound” and “The Big Sick.”

Insiders say Amazon at least bid on multiple films but came up short to more traditional theatrically focused indie distributors — sometimes working in tandem with upstarts like 30West and MoviePass.

One factor was this year’s slate of films — which didn’t inspire the kind of bidding wars that prompted some to question whether the streaming giants had overspent last year. “The commercial viability of the lineup was as low as any in recent memory,” one festival veteran told TheWrap. “There were not many titles for anything beyond a festival audience.”

Also Read: Sundance Film Festival Programming Chief Trevor Groth Heads to 30West

In addition, both companies have hinted at a new focus on pricier, more commercial projects going forward. Netflix just greenlit the sequel to its Will Smith sci-fi movie “Bright,” while Amazon recently acquired TV rights for “The Lord of the Rings” books with a multi-season commitment.

“No one showed up,” one top dealmaker told TheWrap about other nontraditional content companies like Hulu, Facebook and YouTube failing to emerge as big players in this year’s marketplace. (Also MIA: go-to Sundance buyers like Fox Searchlight and The Weinstein Company, both awaiting the completion of deals by new owners).

Amazon Studios Worldwide Film Head Jason Ropell tried to debunk a Reuters report about its Sundance plans, insisting the company was not “abandoning the indie space” but rather “increasing the potential size of the audience for our films.”

Also Read: Neon Lights Up Sundance With Big Money, Big Acquisitions

Still, one sales agent told TheWrap that Amazon’s main focus seems to be finding the next big “Game of Thrones,” not another art-house hit. The studio has also been weathering the fallout from film chief Roy Price’s ouster after sexual misconduct accusations — as well as clouds surrounding “Transparent” star Jeffrey Tambor and Woody Allen, director of the upcoming “A Rainy Day in New York.”

And it went home empty-handed this year after purchasing a whopping five titles at the 2017 Sundance, including Kumail Nanjiani’s “The Big Sick” for $12 million and Jenny Slate’s comedy “Landline”spent for mid-seven figures.

Netflix also kept its wallet hidden this year after spending $12.5 million on Dee Rees’ “Mudbound,” now nominated for four Oscars, as well as $8 million for Lily Collins’ “To the Bone” and $5 million for the Russian sports-doping doc “Icarus,” another Oscar nominee.

Of course, both Amazon and Netflix came to the festival with titles to screen — Netflix debuted the Gloria Allred documentary “Seeing Allred” and the comedy “A Futile and Stupid Gesture,” while Amazon arrived with Spike Lee’s “Pass Over” and Gus Van Sant’s “Don’t Worry, He Won’t Get Far on Foot.”

And YouTube, which sponsored a portrait studio on Main Street, went home only with Eminem and Joseph Kahn’s battle-rap parody film “Bodied” — which it had acquired before the festival even began.

Reps for Netflix and Amazon Studios have not yet responded to TheWrap’s request for comment.

Also Read: Sundance: Will Fox Searchlight Still Be a Player in Shadow of Disney Acquisition?

With the streaming and tech behemoths on the sidelines, Neon and Bleecker Street emerged as the biggest players at this year’s festival — which had a dramatically lower profile as well as sales prices.

Neon partnered with the Russo Brothers to pay upwards of $10 million for tech thriller “Assassination Nation,” and also acquired police brutality drama “Monsters & Men,” the documentary “Three Identical Strangers” and Coralie Fargeat’s “Revenge” (with Shudder).

An insider told TheWrap that Neon’s game plan ahead of the festival was to build a slate from scratch with as many purchases as possible, chasing a similar business model as Oscar-winning indie darling A24.

Bleecker Street also made a splash in Park City, acquiring Ben Foster’s “Leave No Trace” and Keira Knightley’s “Colette” (alongside 30West).

HBO Films surprised many when it bought the buzzy Laura Dern film “The Tale” for a deal in the high-seven figures. HBO has decided to skip a theatrical release, going for Emmy instead of Oscar glory. This also marked the first time in a while that HBO bought anything other than a documentary out of Sundance. Speaking of documentaries, HBO also acquired the U.S. rights to “The Sentence” and “The Oslo Diaries.”

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“Sorry to Bother You,” starring Lakeith Stanfield, Steven Yeun, Tessa Thompson and Armie Hammer, sold to Annapurna. Sony Pictures Classics paid $5 million for world rights to director Marc Turtletaub’s debut feature “Puzzle.”

Gunpowder & Sky bought the rights to Nick Offerman’s “Hearts Beat Loud,” with the international rights going to Sony Worldwide Acquisitions — which also paid $5 million for “Search,” starring John Cho and Debra Messing.

And Lionsgate beat out Neon, The Orchard and CBS Films for the buzzy “Blindspotting.”

Also Read: Kristen Stewart, Chloe Sevigny Crime Drama ‘Lizzie’ Picked Up by Saban Films

Many distributors teamed up for acquisitions this year, perhaps to mitigate their risk at a time when the indie theatrical marketplace is in such a state of transition.

After a huge bidding war for the ax-murderer period drama “Lizzie,” starring Chloe Sevigny and Kristen Stewart, Saban Films acquired the North American rights in partnership with Roadside Attractions.

Magnolia purchased “The Guilty” and the Ruth Bader Ginsburg doc “RBG” with Participant Media, while The Orchard bought the rights to “American Animals” with MoviePass, which announced it would begin acquiring films with established distributors and promote them via its movie ticket subscription program. The film was purchased for $3 million plus P&A.

And some titles, like “A Kid Like Jake” and “The Miseducation of Cameron Post,” were still up for grabs as industry figures packed up and left Utah.

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Gigi Gorgeous Says Celebrating Transgender Awareness Week Is ‘Simpler Than People Think’ (Exclusive Video)

Read on: TheWrapTheWrap.

Gigi Gorgeous wants everyone to know that it doesn’t take much to celebrate Transgender Awareness Week.

The model and internet personality, who is the subject of the documentary “This Is Everything: Gigi Gorgeous,” told TheWrap that the one-week celebration is all about increasing the community’s visibility. This year, Transgender Week spans Nov. 14 through Nov. 20.

“I think it’s a lot simpler than people think it is,” Gorgeous said. “Transgender Awareness Week is literally what it says: It’s to bring awareness to the transgender community. You don’t need to be transgender, your best friend doesn’t need to be transgender.”

Also Read: How Gigi Gorgeous and Her Docu Director Hoodwinked YouTube Red (Video)

“You need to know of a transgender person, and you need to recognize their work,” she added.

Watch the interview above to hear Gorgeous name some of her transgender icons.

“This Is Everything: Gigi Gorgeous” is currently available for streaming on YouTube Red and Google Play.

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