Film Market to Draw Record Numbers

By Ed Moosbrugger

October 16 -- An independent film industry trade show that pumped about $11 million into Santa Monica in 2005 is on track to top that this year.

The American Film Market, which has been held in Santa Monica since 1991, is expecting a record year on top of a big jump in attendance from 2005.

“All indicators are that we are tracking ahead of 2005,” Jonathan Wolf, executive vice president of the Independent Film and Television Alliance and managing director of AFM, said in early September.

The international film market will be held November 1 to 8 and is headquartered at the Loews Santa Monica Beach Hotel.

As a sign of the strength of the market, AFM added a full floor of exhibitor offices this year at Le Merigot Hotel, a JW Marriott, which is next door to Loews.

With increased demand for exhibitor space in recent years, AFM now takes three floors at Le Merigot to augment space at Loews.

This year, AFM will have the most exhibit space in its 27 year history.

Strong demand for this space is an encouraging sign that Santa Monica will reap even more benefit than last year.

“I think the biggest thing is that AFM has sold out all the office space,” said Misti Kerns, president/CEO of the Santa Monica Convention & Visitors Bureau. “That alone is a huge indicator. We already know it will be more than $11 million.”

AFM reported in mid-July that registrations for the event were running well ahead of last year and organizers expected to easily surpass 2005’s record number of 420 exhibitors. AFM expects the number of attendees to exceed last year's record high of 8,014, which was a 13 percent jump over 2004.

Among the reasons for increased attendance and exhibitors are a shift in AFM to November and continued growth of quality non- English language production around the world, Wolf said.

“We knew fall was a better time for the industry,” Wolf said. The increase in business last year was more than expected, he said.

The shift to November means AFM and the big Cannes film festival and market are now six months apart rather then bumping too close together.

By changing to November, AFM also has been able to form an alliance with the AFI Fest in Hollywood, offering the only market-festival combination in North America. Of the more than 500 films screened at AFM last year, 45 were also shown at AFI Fest, which is a curated event, Wolf noted. That provides additional visibility for some films being marketed at AFM.

AFM made the transition to November in 2004, when it also held a market in late February.

No matter when it has been held, AFM has provided a big piece of business for Santa Monica, including many Downtown businesses.

A study commissioned by the convention bureau estimated that the film market brought an estimated $11 million to Santa Monica in 2005 and generated close to $500,000 in taxes and fees for the city.

The study by Lauren Schlau Consulting of Los Angeles and CIC Research Inc. of San Diego estimated that of the approximately $11 million economic impact on Santa Monica, about $2 million was expenditures in the city by AFM itself and about $9 million came from visitors in town for the film market.

AFM draws people from more than 70 countries for eight days of deal making, screenings, seminars, red carpet premieres, networking and parties.

That means opportunity for a wide variety of businesses, and much of the action takes place downtown.

Among the biggest spending categories in 2005, not counting AFM’s cost of producing the event, were lodging ($3.4 million), meals and beverages ($2.8 million), retail purchases ($1.5 million) and local transportation and parking ($720,000), according to figures released by Schlau.

Many businesses also benefit from purchases to produce AFM, ranging from location and theater rental, to furniture and equipment, to meetings and receptions.

All in all, it adds up to Santa Monica’s largest annual meeting.

The convention bureau has worked with local businesses to help tap the potential from AFM delegates. It offers a VIP card in the registration packets that provides discounts at about 160 businesses.

It also offers window placards.

Meanwhile, AFM will again offer free preview screenings of some films to Santa Monica residents and members of the entertainment industry.

AFM also will offer some paid seminars that are not limited to AFM delegates.
For information, go to www.americanfilmmarket.com, and click on “Public Previews” and “Conferences & Seminars.”

HOTEL OCCUPANCY rates rose 2.7 percent in Santa Monica in July to 86.6 percent, according to a report by PKF Consulting. The average room rate rose 8.8 percent to $273.50.

Through July, occupancy rate increased 4.8 percent to 83.3 percent and average room rate rose 9.1 percent to $252.48.