Market·Insights｜A Comprehensive Overview of the Film Industry's Concerns

SIFF is not only a celebration for cinephiles but also a significant event for the industry. How does it address industry concerns while fulfilling its platform responsibilities? As a key component of the festival, the film market this year specifically targeted the industry's current hot topics, such as cultural tourism, international collaboration, and IP development. It hosted impactful sessions like the Buyers Meeting, Film & TV IP Development Conference, and the 2024 Summer Blockbuster Film Trade Fair, all of which were well-received by both industry insiders and the general public.

Rich Content Covering the Entire Industry Chain

Comparing major global film markets like those at the established European festivals in Berlin and Cannes, which emphasize copyright trading, the SIFF market covers the entire industry chain. Beyond traditional production and distribution entities, it includes exhibitors from the service, financial, and legal sectors. Many exhibitors noted, "The market is not only diverse in its activities but also comprehensive in its coverage."

At the forefront, the market organized the Film & TV IP Development Conference, dividing it into two specialized sessions: one on sci-fi, titled "Tomorrow's Neon: Do Filmmakers Dream of Cyberpunk?" and another on serious literary adaptations. Chen Jie, the market director, explained, "Compared to web novels, which are popular with web series and TV dramas, there's a high demand for serious literature in films. This year, we collaborated with the China Writers Association. They have a rich database of authors and works, and we set up a selection process specifically for this event to present ten curated works."

During the peak "rush period" for the summer blockbuster season, coinciding with the SIFF, the 2024 Summer Blockbuster Film Trade Fair gained significant attention. The summer season, known for its long duration, large capacity, and high audience expectations, saw a record-breaking total box office of over 20.6 billion yuan and more than 500 million viewers in 2023, boosting industry confidence. This year, the trade show featured 15 prominent organizations, including Alibaba Pictures, showcasing their offerings across two days. Lin Minjie, Vice President of the China Film Distribution and Exhibition Association and President of the Urban Cinema Association, noted, "The trade show gathers industry elites to collectively seek prosperous development and rejuvenate the industry, providing filmmakers with a platform to expand collaboration."

Rather than casting a wide net, the film market's backend strategically focused on international distribution, hosting the "Buyers Meeting: International Distribution of Chinese Films". "After the success of NO MORE BETS (2023), Mega Films Distribution from Malaysia was eager to participate because they missed out on buying Jia Ling's YOLO (2024) during our Spring Festival slot," explained a market official. This underscores the national effort to globalize Chinese cinema, a focal point for governmental bodies, industry insiders, and film enthusiasts. The event was highly informative, providing insights into the successes and lessons of international distribution and offering valuable practical guidance for future endeavors.

The SIFF market also showcased its significant draw through "invisible" industry components. Two major market events related to film production included the "Action! - Incentive Policies and Shooting Sites Promotion Conference" event, which attracted participants from France, Malaysia, Thailand, Hong Kong, Guangzhou, Qingdao, Lianyungang, and even Le'an County in Jiangxi. "The promotion was bustling with activity, with eager exchanges continuing after the session," reported organizers. The outreach meeting of the "Yangtze River Delta Film and Television Production Service Cooperation Alliance" attracted national film production services and shooting locations, with São Paulo, Brazil, showing interest in the alliance. "The integration of culture and tourism has been a clear trend over the past two years, with policies and market demand pushing for attractions that cater both to film crews and tourists," explained an industry insider.

"Film+" became a rising trend in the market. Following the successful financial services provided to the popular series BLOSSOMS SHANGHAI (2023), which garnered significant industry attention, the Bank of Shanghai took the opportunity to promote their new "Finance + Cultural Creativity" initiative at the film market. They expressed their intention to return next year. The legal sector also showed a special affinity for the film market; the "Law & Film and Television" industry dialogue attracted major law firms keen on strengthening their efforts in copyright protection.

Fresh Information Highlights the Market's Value

This year, the film market saw over 11,000 professional visitors and hosted 137 exhibitors. Both exhibitors and attendees noted a visible resurgence in attendance—a trend that became a focal point in mainstream media coverage of the market.

The return of international clients this year, highly praised by both the industry and media, serves as a prime example. The film market team proactively compiled an extensive database of buyers from major international film festivals well in advance. "We specifically selected buyers with recent experience handling Chinese commercial films in international markets because these frontline agencies have the funds and willingness to distribute Chinese films. Their experience and advice are invaluable to the industry," said a market spokesperson.

The Shanghai International Film Festival's film market is traditionally seen as a barometer for the Chinese film industry. The decision to host a promotional event for the summer blockbuster season received enthusiastic and positive responses from the industry—everyone is eager to stay updated with the latest developments. To enhance its relevance, the film market has placed the highest demands on the "freshness" of industry information.

For instance, the comedy "Successor" (2024), featuring Shen Teng and Ma Li and introduced by MaoYan Movie, didn't have a confirmed title until the final version of the PowerPoint presentation; it was temporarily titled "Untitled Shen Teng Ma Li Film". Similarly, New Classics Media's CUSTOMS FRONTLINE, starring Nicholas Tse and Jacky Cheung, had its release date moved from July 5 to June 28, just before the promotional event, in a bid to capture the summer season. The PPT couldn't be updated in time, leading to verbal announcements during the presentation. A media participant marveled at the market's incredibly fresh information, with official announcements following verbal declarations at the event.

The freshness of the information naturally attracted distributors and film dealers. "Originally, the summer season promotional event was only open to domestic cinemas because we thought they were all domestic films, but many foreign guests heard about it and came asking questions, so we added simultaneous translation services at the last minute, and indeed, many foreign guests attended the event," a staff member explained.

Compared to the world's top traditional film markets, the Shanghai International Film Festival's film market is still playing catch-up. However, this platform is known for its "Shanghai service", which is characterized by professionalism and meticulousness. By putting pressure on itself, the market facilitates a virtuous cycle of empowerment among exhibitors, the industry, and the platform itself, striving to enhance its global influence.