Struggling Film Industry Needs Cannes for the Deals, Not Glitz - Bloomberg
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Struggling Film Industry Needs Cannes for the Deals, Not Glitz

  • Holding festival would buoy film makers after tough year
  • Event is chance for thousands of people to barter, network
The Cannes Palace of Festivals and Conferences, the flagship for the Cannes Film Festival, was converted into a vaccination centre in January.Photographer: Arnold Jerocki/Getty Images
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It may be the world’s most glamorous movie event, but what happens behind the scenes at the Cannes Film Festival matters more.

The red-carpet rituals and the battle for the 18-carat Palme D’Or trophy are a sideshow for most of the 40,000 delegates who typically descend upon the Mediterranean town. They’re in it for serious business -- closing distribution deals between screenings and cajoling commissioners to sign the checks that keep the industry’s patchwork of production firms alive.