Indie Film Executives Bet Big on Genre Films at AFM 2023

Amid the glitz and glamour of the newly relocated American Film Market (AFM) in Las Vegas, independent film executives are playing their cards strategically, doubling down on genre films amidst a turbulent market that’s seen more misses than hits. With theatrical releases feeling like a roll of the dice—think of the successes like Longlegs compared to the flops like Borderlands and Megalopolis—buyers are increasingly cautious, favoring projects that appear to have guaranteed audience appeal.

The trend at this year’s AFM is a notable shift towards genre films, particularly in the realms of horror and action, leaving behind the riskier domains of drama and comedy. “There’s a significant focus on genre films; even smaller international sales companies are ramping up their genre portfolios,” revealed a U.S. seller. With the unpredictable landscape of independent cinema, the urgency to align with projects that attract a built-in audience is palpable.

Recent successes, particularly the box office hits Longlegs and Terrifier 3, have sharpened interest in horror projects. This year at AFM features a slew of promising horror films, including Twilight of The Dead, the much-anticipated conclusion of George A. Romero's iconic zombie franchise, set to be directed by Brad Anderson. Additional hot properties, like Victoria Psycho, are also on the slate, which will reunite Margaret Qualley with her Sanctuary director, Zachary Wigon.

Action films are stepping back into the spotlight, too, with high-profile titles generating buzz at the market. Among them is Martin Campbell's Cleaner, a tense hostage thriller featuring Daisy Ridley. Other noteworthy projects include Hammer Down, a gripping tale of Idris Elba as a truck driver on a perilous mission to save his daughter during a heist, and The Last Druid, starring Russell Crowe, which melds sword-and-sandal adventure with action.

In a calculated risk, Lionsgate, fresh from a series of box office setbacks, is pushing forward with a lineup of shoot-’em-up films. Included is Day Drinker, which sees Johnny Depp and Penélope Cruz reuniting after their Pirates of the Caribbean days. They're also launching the holiday-themed action-comedy Fairytale in New York, alongside the cleverly titled Three Hitmen and a Baby, which promises a blend of humor and action.

As investing in film becomes increasingly unpredictable, how this financial gamble pays off will depend largely on audience reception following AFM’s new Vegas round. The relocation from Santa Monica has sparked mixed feelings among attendees; some lamenting the increased costs associated with the Vegas venue, while others believe the centralized layout could lead to greater efficiency.

The AFM’s move could either signal a game-changing bonanza or a costly flop. As one UK seller put it, “My booth at the Palms Casino cost $30,000—four times what I paid in Santa Monica!” Concerns over hidden costs abound, including hefty fees for essential amenities. Nevertheless, buyers and sellers alike recognize the benefit of having all market activities—buyers, sellers, conferences, and screenings—under one roof, amidst the vibrant hustle of Las Vegas.

In this environment, where theatrical releases feel more like gambling than a business model, the question lingers: Is the move to Las Vegas a strategic masterstroke or a risky bet? As the indie film landscape continues to evolve, one thing is clear: genre films are not just a trend; they may well be the future of independent cinema.