Surprisingly, a few years ago Amazon and Netflix weren’t too much of a threat for the Sundance Film Festival. At least they weren’t until recently. This year, they acquired 15 features together when it was only one in 2015.
The films have become relatively more expensive in recent years as well. This year, 11 films sold for $5 million or more whereas none made near that amount in 2014. Netflix bought “Mudbound” which went for a total of $12.5 million and Amazon purchased two for roughly the same price each.
Although there was no record-breaking price this year, Fox Searchlight is known for holding the record at a purchase of $17.5 million.
Companies such as Fox Searchlight and Sony Pictures Classics still prove to be doing well despite Netlflix and Amazon’s huge step up in the industry. However, the idea of purchasing more expensive films with more of a limited exposure to television versus internet streaming, has caused companies to act more carefully in their investments.