April Media Roundup

May is here!

It's that time of year...the prestigious Cannes Film Festival and Marché du film are just a week away!

If you're heading to Cannes soon, we hope your market and festival prep is going smoothly. To help you prepare, this edition of the monthly media roundup is all about Cannes. Of course, if you're interested in learning how teams will be leveraging MOLTEN in Cannes to streamline their business, don't hesitate to?schedule an introduction , or?meet us in Cannes !

As always, we are here to keep you up to date with market highlights, rights management and distribution insights, and the shifting ecosystem of modern digital media.?

Table of Contents

1. April Highlight Reel

2.?Marché Wisdom from Industry Experts

3. Strategizing Marché du Film: Tips for Success

4. 10 Bars and Restaurants for Meetings at Marché

5. Free Marché du Film Survival Guide

Roku Shrinks Operating Losses

Roku reported improved Q1 earnings, with a reduction in operating losses from -$249.9mn to -$212.5mn, and total net revenue of $741mn, surpassing expectations. Advertising spend on the platform remained under pressure, but Media & Entertainment (M&E) engagement saw growth. Roku, which accounts for nearly half of American broadband households' streaming initiation, reached a record high of 3.9 hours of streaming per active account per day.

Super Mario’s Super Success

NBCUniversal exceeded expectations with Peacock's revenue growing 45% y/y to $685mn and paid subscriptions reaching 22 million, despite an adjusted EBITDA loss increase to -$704mn. Studios' revenue rose 1.7% y/y, driven by the successful Super Mario Bros movie, which grossed $875mn globally and became the biggest video game adaptation in history. The company expects peak losses of ~$3bn for Peacock before improving and is on track for better performance in the worldwide box office in 2023.

Netflix Looks to Content

Netflix added 1.75 million subscribers in Q1, though it didn't quite meet expectations, and Q2 financial projections were also lower than anticipated. However, the company aims to boost revenue and profits in the second half of the year by focusing on performance, expanding Paid Sharing, and growing its ad business. With content spending remaining steady at $17bn until 2024, Netflix is committed to providing compelling content to its subscribers. As the company zeroes in on performance and content investment, 2023 is seen as a pivotal year for growth, especially in markets like the US and UK.

Max: What to Expect

The merger of Warner Bros and Discovery's streaming services into the new platform "Max" offers a vast library of scripted and non-scripted original content. Launching on May 23, Max will combine popular HBO Max shows with Discovery's unscripted content at the same pricing as the current HBO Max rates. A new premium tier, "Max Ultimate Ad Free," provides monetization opportunities through additional charges for concurrent streams and offline content downloads. Max will also introduce new technology features, including enhanced personalization, improved parental controls, and prominent promotions for spotlighted brands and genres. Despite the expanded content lineup and new features, Max may face near-term profitability challenges as existing subscribers receive more content for the same price, and marketing expenses are expected to rise. The company's streaming sports strategy remains unclear, with more details potentially emerging closer to the launch date.

CTV in 2023

In 2023, overall ad spending is expected to grow by 5.9%, but connected TV (CTV) ad spending will grow even faster at 14.4%. A recent survey discovered that 57% of direct-to-consumer (DTC) marketers plan to increase their CTV spending in the first half of 2023, up from 43% in the first half of 2022. Almost two-thirds of those spending more on CTV this year are new to CTV advertising. To make room for more CTV spending, marketers are either increasing their total budgets or moving money from other areas like social media, search, or mobile apps.

Streaming Spending Slumps

According to Park Associates, US internet households reported spending $69/month on OTT services in Q3 2022, a decrease from the year-ago quarter's spend of $85/month and a 25% drop from the Q1 2021 high of $90/month. The market is saturated, with 87% of US internet households having at least one streaming service and 45% having five or more. Streaming is also driving broadband upgrades, as 60% of households that recently upgraded their broadband service cite streaming as the reason for the upgrade.

A Saturated Market

The streaming market in the United States is reaching a saturation point, with a large majority of TV viewers (80-85%) already subscribed to at least one streaming service. We’ve seen considerable slowdown in growth of premium streaming subscribers, with just 14.1% growth in 2022, compared to 28.9% in the previous year. Market research firm Antenna published its "State of Subscription Streaming" report, describing 2022 as a "turning point" for the streaming industry.

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After a year of our webinar series, we’ve collected insights from experts across the film distribution landscape, including CEOs, Marketing & Acquisition Executives, VOD Specialists, and more! We’ve compiled a list of the top tips we’ve gotten over a year of film markets to help you get the most out of Marché du Film.

1: Set yourself up for success

Preparation and follow-up are crucial for driving business at Marché du Film. To maximize your impact at the market, it's essential to move quickly, get in front of buyers, and close deals. Make sure to book your meetings in advance, prepare your printed material, and filter your avails sheets. You can utilize tools like Cinando to research market attendees and arrange meetings with those you believe are most interested in buying or selling titles.

Jack Campbell, CEO of Jackrabbit Media, suggests using an email marketing campaign to reach out to buyers before the event and set up meetings using a calendar tool. After the market, track your follow-up activity using a platform like Monday.com to stay organized and move quickly towards closing deals.

For independent filmmakers, perfect your elevator pitch and practice it thoroughly, as many market participants are primarily there to sell and have limited time. Distributors and sellers should also prepare their content, ensuring that avails, posters, and screeners are visually appealing and well-organized. The ability to run instant avails and send screeners quickly can be the difference between securing a deal or losing out to competitors.

2: Leave Room for a wild card

While it’s a common strategy to arrive at a market with meetings already in your calendar, Barrett Dungy, CEO of Urban Home Entertainment, recommends arriving with a calendar scheduled half-full. The other half, he recommends leaving open to the serendipity of the market.

In Barrett’s words,?“The most important thing about these markets is having a strategy but also being fluid enough so you can receive things that you didn't even know that you needed in your future...It’s not just for making money, but actually building a foundation so you can survive in this market. That’s really what your goal should be.”

3: Play the long game

When asked the best way to stand out against thousands of other companies, SKOOP Media’s Fulko Kuindersma advised that it’s not so much about standing out at the market, but standing out throughout the year.?

Markets are an invaluable opportunity to build your brand. Establishing yourself as a trustworthy will pay off in dividends. Both Jack Campbell and Barrett Dungy agreed that if a buyer approaches them with specific content in mind, and they know someone with a better fit, they wouldn’t hesitate to send them to another distributor. Barrett explained that doing the groundwork to build trust with buyers was key to building the solid business that Urban Home Entertainment is today.?Kindness and trust go a long way. Take the loss today and reap the benefits in the long run.?

4: Invest in relationships

This is a relationship driven industry, and one of the key functions of the market is to solidify those relationships. In fact, according to Daredo’s Thorsten Hesse, who offered us his insight into the European Film market, most of the actual work comes after the market. This isn’t to say that the market isn’t work - you’ll likely be busy from 9am to 9pm. But often, the deals happen post-market.

Fulko emphasized the importance of investing in current relationships, sharing that if you serve your existing partners well, new business will follow. With this philosophy, SKOOP Media as managed to expand from the Netherlands to Scandinavia, Eastern Europe, and beyond.

On top of investing in your existing relationships, you should be looking to build new ones. Even on a shoestring budget, you should leave some money for the bar. Jack Campbell and Barrett Dungy agreed that one dinner or round of drinks at the market might feed you for years to come.

The connections you make at the market are the foundation of your business for years to come. Leverage your time spent at an in person market as an opportunity to make connections, and invest in your relationships. Build strong relationships at the market, and the business impact will follow in the year to come.

5: Make the buyer’s job as easy as possible

Jack shares that his main goal when it comes to market operations is to make the buyer’s job as easy as possible by removing any barriers between his content and his buyers. Time is everything in a competitive marketplace, and any additional work or waiting time could lead to opportunity wasted.?

If you’re an exhibitor, the number one thing you can do to make life easier on your prospective buyers is by preparing your avails in a way that is both visually pleasing, and easy to browse! This means organizing your avails by what matters to your prospective buyer - for example by genre or territory. You’ll also need to make sure they’re extremely accessible. Linda Nelson of Indie Rights generates PDF versions of her avails on MOLTEN and prints them to create big binders that will be available in her booth at Cannes. Jack Campbell generates QR codes for his avails, to make them easy for visiting buyers to access via their mobile phones.?

6. Don’t share everything all at once

Barrett Dungy shared an interesting sales tactic during our webinar on the American Film Market. At the market, he instructs his sales team not to share more than ten titles with a buyer at one time. Rather than overwhelm a buyer with his entire catalog, he’ll share a small handful of avails, filtered down to the exact specifications his buyer is looking for.

Not only does this help avoid buyer overwhelm, but touches on a deeper psychological principle: it’s much easier to sell four titles two times, than it is to sell eight all at once. This is true even when working with the same buyer both times. A buyer might only feel comfortable walking away with a few titles. Let your buyer walk away, and another sales rep might make another deal with them later in the market. The trick is narrowing down your avails to a granular degree, and the patience to play the long game.

7: Sample it ALL

The Marché is like a candy shop, and you’d be remiss not to try a little bit of everything.?Over the course of the festival and market there will be a cornucopia of panels, networking events, seminars, premieres, screenings, and parties. Your schedule will be undoubtedly packed, but, when it comes to film markets, Fulko highly recommends leaving room in your calendar to attend some of these events. This is a great opportunity to learn more about what’s been happening in the industry.?

Across our webinar series, one piece of advice we always get around film markets is to make sure to attend as many film premieres and screenings as you possibly can. You spend your entire year working hard to turn the gears of a creative industry - big premieres are a chance to experience and enjoy the art at the center of it all.?

When you skip out on a premiere, you never know what you might be missing. MOLTEN’s very own Arjun, CEO, reflects on the time he was offered free tickets to a premiere and had been too busy to attend. A few months later he stumbled across his ticket and it turned out he had skipped the premiere of the wildly successful Parasite. Ouch!

The Takeaway

Across one year of market wisdom from industry experts, it’s clear that the best thing you can do for success at the market is to embrace the human side of the business: your personality, your mentality, your brand, your readiness to build relationships, and your being present at the right place at the right time.

Of course, film markets require a great deal of physical preparedness: your documents, materials, avails, screeners, and content. The best market tools are those that can free you from the burden of tedious or technical tasks, and empower you to focus on putting your best foot forward. If you’re interested in learning how the MOLTEN CLOUD can help, don’t hesitate to reach out.

If you're wondering how seasoned distribution executives prepare for the Marché, you're in luck!

Listen in as founders Andreas Olavarria (Level 33 Entertainment), Luis Ignacio Perez (Gluon?Media), and Arjun Mendhi (MOLTEN) discuss their market strategy in a recent webinar on Marché du Film. View the webinar

here .

Lights, camera, action! The Marché du Film is the biggest, most glamorous film market event of the year. It's where the who's who of the film industry come together for screenings, conferences, and business. But when the sun sets and the projector dims, it's time to mix business with pleasure at some of the hottest bars and restaurants Cannes has to offer.

We've got you covered with our list of the top 10 places to wine, dine, and seal the deal during the fabulous frenzy that is the Marché du Film. Let's get the party started!

1: Le Bar à Vin

Located near the Palais des Festivals, Le Bar à Vin is a cozy wine bar offering a wide selection of local and international wines. With its intimate atmosphere, it's the perfect spot to engage in meaningful conversations with colleagues or potential business partners.

2: La M?me

A short walk from the Croisette, La M?me is an upscale yet casual restaurant that serves Mediterranean-inspired dishes with a contemporary twist. The stylish terrace is ideal for a business lunch or dinner, providing a serene backdrop for a meeting.

3: Le Roof

Situated on the rooftop of the Five Seas Hotel, Le Roof boasts stunning views of Cannes and the Mediterranean Sea. Offering delicious cuisine and an extensive cocktail menu, this elegant bar and restaurant is a popular choice. This is a great spot for private parties and events, or an elegant meal.

4: La Guérite

For an unforgettable dining experience, head to La Guérite, located on Sainte-Marguerite Island. Accessible by a short boat ride from Cannes, this seaside restaurant offers Mediterranean cuisine, a laid-back atmosphere, and breathtaking views of the city – the perfect recipe for a memorable meeting.

5: La Palme d'Or

Located in the prestigious Hotel Martinez, La Palme d'Or is a Michelin-starred restaurant offering an exquisite gastronomic experience. With its refined atmosphere and impressive wine list, it's an excellent choice for a high-end business dinner.?

6: Charly's Wine Bar

Also known as Bar Charlys, Charly's Wine Bar is a lively, welcoming venue situated close to the Palais des Festivals. Known for its fantastic cocktails and friendly staff, it's a great place to unwind and network with fellow film industry professionals.

7: Fred L'Ecailler

For seafood enthusiasts, Fred L'Ecailler is a must-visit. This renowned restaurant near the Old Port offers an impressive selection of fresh seafood, including oysters, lobster, and fish. The relaxed atmosphere and superb service make it a great choice for a business lunch or dinner.

8: Le Baoli

Le Baoli is a stylish, trendy venue popular among film industry insiders. This beachfront restaurant and club offers delicious Asian-inspired cuisine, creative cocktails, and a lively atmosphere, perfect for late-night networking events.

9: La Colombe d'Or

Located in the picturesque village of Saint-Paul-de-Vence, La Colombe d'Or is a historic hotel, restaurant and art gallery frequented by celebrities and film industry professionals. With its stunning garden terrace and delicious Proven?al cuisine, it's an ideal spot for an intimate business meeting, if you’re up for the trip.

10: L'Affable

Situated in the heart of Cannes, L'Affable is a sophisticated restaurant offering refined French cuisine. Its elegant interior and impeccable service make it an excellent choice for a business lunch or dinner.

Cannes offers a wide range of bars and restaurants suitable for your meetings and networking events during the Marché du Film. From cozy wine bars to Michelin-starred restaurants, there's a venue for every taste and occasion. Be sure to fit in some fine wining and dining to make the most of your time at this prestigious film industry event.

For even more insight around Marché du Film, whether you're a market regular or preparing for your first ever visit to Cannes, we invite you to check out our free Marché du Film Survival Guide .

With strategic insight and advice from a myriad of accomplished film executives, this e-book is an essential guide to making the most of your time at the market.