Cannes is often crudely pigeonholed as a sunny place for shady people. But in my experience attending the film festival over the last two decades, it is the epitome of glamour and outrageous deal-making. Over a mouth-watering lunch at the 2 starred Michelin restaurant La Palme d’Or at the Hotel Martinez – with Martin Scorsese at a neighbouring table – I sealed the financing for my latest film, Quintessentially Irish. This week I’m pitching my new film project, Oxbridge – inspired by the success of Saltburn – at meetings at the Hotel du Cap Eden Roc.
Here’s some insider info I’ve picked up from my time spent at this inimitable festival.
Nepo babies
There has been much talk about nepo babies and two such will be making waves this year. The scion of Blackstone founder Stephen Schwartzman, Teddy Schwartzman, has a successful film company, Black Bear International. Teddy is confident buyers will be knocked out by his new independent film starring hot young star Sydney Sweeney, about the real-life boxer Christy Martin.
Shots fired
Top Gun Maverick, produced by Skydance founder David Ellison (son of the Oracle’s Larry Ellison), had its world premiere here in 2022, at which Ellison and Tom Cruise enlisted the French air force for a spectacular fly-by over the red carpet. Ellison recently made a multi-billion offer to acquire storied movie studio Paramount Global but it looks like owner Shari Redstone will be giving the offer its own kind of fly-by.
Expect to see more Balenciaga on CAA clients Margot Robbie and Zendaya. Kering’s Women in Motion gala dinner at the Chateau de la Castre will bring out all the A-Listers.
Kering, ker-ching
Kering has become a major player at Cannes. Its CEO Francois-Henri Pinault is married to Salma Hayek, who is rarely seen out of its luxury brands, which include Gucci and Saint Laurent. In a multi-billion-dollar deal that surprised many, Kering (through its investment vehicle Artemis), acquired a majority stake in Hollywood’s pre-eminent talent agency Creative Arts Agency. Expect to see more Balenciaga on CAA clients Margot Robbie and Zendaya. Kering’s Women in Motion gala dinner at the Chateau de la Castre will bring out all the A-Listers.
The hottest spot
The spectacular Riviera Restaurant at the Carlton Cannes is where the power brokers come to do mega-deals, with the terrasse a favourite of Quentin Tarantino. But the hottest new dinner spot is the stunning Zuma Cannes at the legendary Palm Beach. The launch has already the biggest stars salivating over its heavenly contemporary izakaya concept. Cate Blanchett and Emma Stone are expected at premiere parties there.
Self-funding
There is an old industry maxim that the best way to make a small fortune in the movies is to start with a large one. Francis Ford Coppola is back in Cannes to premiere his $120m budgeted, self-funded Megalopolis starring Adam Driver. Ever the risk-taker, he sold a portion of his prestigious vineyard in Sonoma to do so. Will this prove to be a seven-figure folly or a shrewd investment like his self-funding of Apocalypse Now, which netted Coppola a fortune (against the odds) and won him a coveted Palme D’Or in 1979. Kevin Costner is also premiering Horizon: An American Saga which he also self-financed by remortgaging his property in Montecito.
Francis Ford Coppola is back in Cannes to premiere his $120m budgeted, self-funded Megalopolis starring Adam Driver. Ever the risk-taker, he sold a portion of his prestigious vineyard in Sonoma to do so.
Skrike hangover?
Will the studios and streamers be more cautious in their deal-making, after enduring an estimated $6 billion loss in revenues because of the SAG-AFTRA strike? Netflix splashed out $11m for North American rights to Julianne Moore’s May December at Cannes last year, but it underwhelmed. This year’s early favourite for a Palme d’Or is from Poor Things director Yorgos Lanthimos, who is back with Kinds of Kindness. Last year’s winner, Anatomy of a Fall went on to win Oscars.
Quintessentially Irish
The premiere of my new film, Quintessentially Irish with Pierce Brosnan and Prince Albert II, will have its charity premiere here tonight, hosted by the irrepressible Easyjet founder Sir Stelios Haji-Ionnau. With heavy rain forecast, looks like the movie gods have produced quintessentially Irish weather just for the occasion!
Dr Frank Mannion is an award-winning film director and senior lecturer in film at Birmingham City University