Market In Focus: HKIFF Industry, CAA China Talk Building An Ecosystem For Emerging Filmmakers

Universal/DreamWorks Animation’s Kung Fu Panda 4 had a rock ‘em sock ‘em weekend at the international box office, adding $55.3M from 69 markets for a $135M overseas running cume, and $268.2M global (there are several key markets still to release, including France, Australia, the UK and Korea). 

Patrick Frater Asia Bureau Chief China’s social media, games and video giant Tencent saw 2023 revenues advance by 10% to $84.6 billion (RMB609 billion). But its net profits slid to $16.3 billion (RMB118 billion), down from $26.3 billion a year earlier. The group is directly affected by weakness in the mainland Chinese economy, which has recovered only slowly since the end of the COVID pandemic, and by ongoing regulatory concerns.

Coming out of the weekend, and with Sunday’s actuals and Monday’s numbers included, there are new global milestones to celebrate for the two major Hollywood titles currently in release.

Lise Pedersen Swiss documentary film festival Visions du Réel has unveiled the program for its 55th edition, which includes 10 first films out of 15 in the main international competition, cementing its reputation as a springboard for emerging talent. The official selection includes 165 films from 50 countries, with gender parity for the second-year running, and no fewer than 88 world premieres, making VdR the place to be in April on the international non-fiction film calendar.

Elsa Keslassy International Correspondent Memento International has closed a raft of deals on “Fremont,” a critically acclaimed film starring Anaita Wali Zada, an Afghan refugee and first-time actor, and featuring “The Bear” actor Jeremy Allen White. Directed by BAFTA-nominated Iranian-born director Babak Jalali, the black-and-white movie tells the story of Donya, a young woman working at a Chinese fortune cookie factory in the San Francisco bay. Formerly a translator for the U.S.

This year’s Filmart was definitely bigger and busier than last year, which was the first physical edition following the reopening of Hong Kong and mainland China’s borders after the pandemic. According to Filmart organizers, the Hong Kong Trade Development Council (HKTDC), more than 750 exhibitors and 7,500 visitors attended this year’s Filmart, compared to around 700 exhibitors and 7,300 visitors in 2023. But despite frenetic meeting activity, the market did little to dispel fears that international sales business in the region, already in decline before the pandemic, is not yet recovering. International sales agents under the IFTA and European Film Promotion (EFP) umbrellas had packed meeting schedules.

HCG AwardPresented by CAA ChinaTwo cash awards of $20,000 value each. CAA China may board the winning projects later by entering into script development agreements. “Call of Lobster” (Taiwan) Dir.

Patrick Frater Asia Bureau Chief Hong Kong’s Film Development Council has unveiled the first shortlisted projects under its new scheme to develop content for streaming platforms. The Content Development Scheme for Streaming Platforms was announced last year. It aims to nurture cross-sectoral production teams and expand new distribution market and takes the form of a competition to recruit participating teams that develop a mini-series for streaming platforms.

Michael Douglas, Kyle MacLachlan, Ella Purnell and Daniel Brühl are among the high-caliber stars who will take part in the 7th edition of Canneseries. The robust lineup, unveiled today by Canneseries’ artistic director Albin Lewi at a press conference in Paris, boasts the world premiere of Apple TV+’s “Franklin,” starring Michael Douglas as one of the Founding Fathers, and Disney +’s “Becoming Karl Lagerfeld” with Daniel Brühl as the acid-tongued designer.

Naman Ramachandran Acclaimed filmmaker Hong Khaou‘s “Walled City” has been selected for the 22nd Hong Kong — Asia Film Financing Forum (HAF), the project market that operates concurrently with FilMart. Khaou’s debut, “Lilting” (2014), starring Ben Whishaw and Cheng Pei-pei, premiered in the world cinema dramatic competition at Sundance, winning best cinematography. “Monsoon” (2019), his second feature, starred Henry Golding and premiered in competition at Karlovy Vary.

Patrick Frater Asia Bureau Chief Chan Tai-lee, the screenwriter of many of the Ip Man martial arts action films, has written and directed upcoming action film “Fight for Tomorrow.” Mandarin Motion Pictures, which backed the film and is handling international rights sales, is using this week’s FilMart to launch the picture to international buyers. The production was assisted with finance from the Hong Kong Film Development Fund.

Patrick Frater Asia Bureau Chief Leading South Korean sales company Finecut has picked up international sales rights to action comedy film “Boss.” It will launch the title at next week’s FilMart in Hong Kong. Directed by Ra Hee-chan (“Going by the Book,” “Mr. Idol”), the film follows gang members embroiled in fierce competition.

Warner Bros/Legendary Entertainment’s Dune: Part Two held strongly in its sophomore session at the international box office, adding $81M to handily cross the $200M overseas milestone, and reaching $367.5M globally.

Patrick Frater Asia Bureau Chief Oscar contenders and Berlin prize-winners will be among the European films being represented by visiting companies to FilMart that are making use of the European Film Promotion umbrella stand within the annual Hong Kong market. In total 29 European film sales companies are making the trip, including more than a dozen from France under the Unifrance banner. Prominent rights brokers include Charades, Goodfellas, Fandango and Filmax.

John Hopewell Chief International Correspondent “Los caminantes de la calle,” directed by Argentina’s Juan Martín Hsu, Chilean Ignacio Pávez’s docu-fiction drama “An Amputee” and Uruguayan Lorenzo Tocco’s “For God’s Sake” proved the biggest winners at the Malaga Festival’s MAFIZ industry area awards, announced at a ceremony on Friday night. Covering Malaga’s Work in Progress showcase, its Málaga Festival Fund Co-Production forum (MAFF) and the Spanish Screenings Content – Málaga Short Corner, prizes were divvied up among a slew of titles, with ‘Sometimes,’ by Sara Fantova and Enrique Buleo’s ‘Still Life With Ghosts,’ both scoring multiple awards. From his first feature, 2015’s “La Salada,” a patchwork narrative tale of immigrants’ lives, dreams and suffering in Argentina, to 2021’s “La Luna Reprenta Mi Corazon,” a docu feature record of the rencounter with his mother in Taiwan, Hsu has carved out a niche depicting the immigrant experience in Argentina.

Patrick Frater Asia Bureau Chief A year after announcing the ambitious project, The Philippines ABS-CBN is now in production on new series “The Bagman.” Filming began in Manila on Feb. 25. “The Bagman” is a spin-off from the original, locally-produced digital series “Bagman” that was aimed at the Filipino audience.

After a successful return as a physical event last year, Hong Kong International Film & TV Market (Filmart, March 11-14) is taking place again this year against a complicated backdrop, both in terms of market realities and the shifting geopolitics of the region. 

Patrick Frater Asia Bureau Chief Atlas Distribution Company, a U.S. indie distributor, has set Vietnamese-American co-production film “A Fragile Flower” on course for a theatrical release in the U.S. Produced by the duo Mai Thu Huyen and Jacqueline Thu Thao, the romantic musical drama, with a screenplay by Vietnamese singing sensation Nhat Ha, is set debut from Mar.

This year’s Hong Kong International Film Festival will feature a masterclass and career retrospective of UK-Irish writer and director Martin McDonagh.

Drishyam,” a hit Indian thriller in which an ordinary man confounds the police in order to protect his family, is to be re-made in English. Production is by India’s Panorama Studios with U.S. companies Gulfstream Pictures and JOAT Films.