Pascal Diot has been a stalwart in the film industry for over 44 years, wearing multiple hats as a sales agent, producer, and market creator across the globe. His journey has seen him establish markets in Dubai, Brussels, China, and Tokyo. However, one of his most notable achievements is the creation of the Venice Production Bridge at the Venice Film Festival 13 years ago, transforming the world’s oldest film festival into a comprehensive market hub.
Creating the Venice Production Bridge: Pascal Diot’s vision for the Venice Production Bridge was clear from the start: it was not to mimic the traditional sell-and-buy markets of Cannes or Berlin. “When I created this market, I didn’t want to do something like Cannes or Berlin. It’s not a sell-and-buy market,” Diot explains. Instead, the focus was on producers and production, offering a comprehensive chain of production services. This includes the Book Adaptation Rights Market, where over 30 publishers present their entire catalogs to producers, facilitating the discovery of new intellectual properties for adaptation.
Innovative Market Strategies: One of the standout features of the Venice Production Bridge is the Venice Gap Financing Market, which Diot pioneered. Unlike traditional markets that focus on development funding, the Gap Financing Market aims to secure the last 30% of a film’s budget. This unique approach addresses the often overlooked challenge of completing a film’s financing. “The main criteria is to have 70% of the financing secure already. It can be co-production, pre-buy, tax incentives, tax rebates, or tax credits,” Diot elaborates.
Quality Over Quantity: Diot emphasizes the importance of quality in the selection process. “Once you are eligible with 70%, the first and only criterion is quality,” he states. The Venice Gap Financing Market selects 40 projects, including 28 feature films and 12 immersive programs, from over 300 submissions. This stringent selection process ensures that only the best projects are showcased, with 80% of projects completing their financing within six months of participating in the market.
Final Cut in Venice and European Focus: Another significant initiative is the Final Cut in Venice program, which supports films from Africa and five Middle Eastern countries. This program showcases rough cuts from these regions, providing directors with a platform to receive funding and post-production support. “We have 15 partners who see those films and usually reward three of them with either cash prizes or any kind of investment,” says Diot.
The European Focus segment of the Venice Production Bridge offers more than 35 panels for producers, covering various aspects of film production and market trends. Additionally, the “Meet the Streamers” program connects producers and publishers with major streaming platforms like Netflix, Amazon, and Disney Plus, fostering early-stage collaborations and co-productions.
The Impact and Future of Markets: Diot’s innovative approach has not only elevated the Venice Film Festival but also set a benchmark for other festivals. He notes that a festival without a market lacks the appeal for sales companies and distributors. “More and more European distributors are not attending some festivals anymore because of this issue,” Diot observes, highlighting the growing importance of integrated market structures.
As Diot continues to lead and innovate in the film market landscape, his work at the Venice Production Bridge stands as a testament to his vision and dedication to supporting film production and market success. With a focus on quality, comprehensive production support, and strategic partnerships, Pascal Diot has firmly established the Venice Production Bridge as a pivotal platform in the global film industry.
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