Russia’s War Against Ukraine Triggers Empathy & Dismay Among International Sellers & Local Buyers: “There Will Be A Tidal Wave Of Force Majeures, But Loss Of Life Transcends All”
03.03.2022 - 20:19
/ deadline.com
Russia’s war in Ukraine has sent shockwaves around the world. Amid the chaos and destruction, the international distribution community, which we record, is reacting in real time with dismay and uncertainty. The human impact is stark and overwhelming. Inevitably, there are significant consequences for local businesses.
The devastation being wrought by Vladimir Putin has almost made business needs pale into insignificance. That said, there are real concerns over what happens to longstanding partners in Ukraine and Russia as well as question marks over existing and future deals with one of the world’s key international territories. Russia has long been a top ten box office market and often accounts for 5-10% of the international finance of movie packages at markets.
This week the leading US studios made their mark by pulling movies from the country. A host of international film and TV events have blocked state-backed Russian participation. Yesterday, a collection of Russian distributors put their heads above the parapet to decry the war.
Few sectors of the global industry interact more closely and regularly with the Russian business than the international sales community. We contacted 15 leading independent distribution companies in the US and overseas. All were reluctant to speak on the record, but some spoke anonymously. A couple of sellers declined to speak due to being owned by larger companies which have yet to publicly comment. Some European sellers pointed to a missive coming from sales organisation Europa International. Some Russian buyers we reached out to naturally feared government reprisal.
The situation is unprecedented and hard to fathom for many. Empathy is the overriding sentiment. International sellers build
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