LA Screenings 2024: Fewer attendees and high-quality meetings in a market tightened by industry conditions

2024 marks the last year LA Screenings will be held at the Fairmont Century Plaza.

The latest independent market at LA Screenings has concluded, marking the second event since the pandemic, with a noticeable decline in buyer attendance. One primary reason for this is the reduced budgets of broadcast television channels. However, several attendees reported to PRODU that the meetings held were of high quality.

Some distributors mentioned that they finalized agreements and continued projects through effective meetings. Paradoxically, the lower attendance and reduced pressure on schedules allowed for more extended conversations and better business deals.

Some buyers adjusted their schedules to attend the independent event during the market’s final days, Thursday and Friday, aiming to attend the screenings of major studios without spending too much time in Los Angeles due to the city’s and the event hotel’s costs.

The lower attendance aligns with industry changes and the impact of local economies, which vary by country. For instance, there were no buyers from Ecuador and Peru for various reasons, including each nation’s internal situation. There is currently a greater emphasis on careful project selection, increased caution, and platforms and TV channels scrutinizing their audiences more meticulously based on metrics. As a result, content selection often happens through other means, primarily online, reducing physical presence in these markets. The proliferation of new markets and the post-pandemic situation also influenced attendee numbers.

“We see the market’s impact on global production reductions, and additionally, budget issues are affecting market offerings. However, independent distributors are always finding ways to meet our needs,” commented Jimmy Arteaga, Chief Content Officer of Hemisphere Media Group.

Alexander Marín, VP of Distribution at RCN Studios, shares a similar opinion, adding, “Once again, being in Los Angeles for 10 or 11 days to attend screenings of major and independent studios is complicated for people in terms of time and investment.” However, he noted that if major studios announce significant titles, it could attract more people to the independent events.

Some buyers, like Ríchard van Esch, Director of Acquisitions for SBT Channel 4 in São Paulo, Brazil, left the market very satisfied. He mentioned that not only did he find what he needed, but movie prices were 30% lower. Conversely, other buyers expressed that they did not see much innovation but found extensive catalogs at low costs and high quality.

HOTEL CHANGE

Isabella Márquez, president of LA Screenings Independents, confirmed that they are considering changing the hotel due to the high costs of the Fairmont Century Plaza. This expense led many attendees to stay in other hotels, resulting in fewer people at the event, particularly in the lobby, affecting networking opportunities.

Isabella Márquez, president of LA Screenings

However, the organization’s figures are higher than last year: there were 466 accredited attendees, including 293 buyers, compared to 264 buyers last year. Márquez noted that many attendees do not register, so the actual number of participants might be higher.

It is essential to consider that changing the hotel is not a straightforward task. Márquez explained that finding a hotel located in the right area, with the required number of suites to accommodate exhibitors, and with acceptable costs for attendees, is challenging.

What remains clear is that LA Screenings continues to be the main meeting point for Latin America with Hollywood studios, maintaining its status as a seemingly essential stop.