A New Record High! A Total Contract Amount of 33.089 Billion Yuan, Enabling Industry Recovery
The development of the film industry is inhibited by the physical separation due to the pandemic this year. However, the 10th Beijing International Film Festival (BJIFF), with professional performance, has established the highland for film and television and attracted the wide attention of the film industry across the world, enabling the recovery of China’s film industry.
The Beijing Film Market this year, as part and parcel of the BJIFF, delivered brilliant results. With the theme of “Display, Promotion, Transaction and Exchange”, it featured five major sections, namely, Exhibition, Project Pitches, Industry Conversations, Events & Activities, and Contract Signing Ceremony, covering the entire film industry chain. It unlocked the full potential of industrial connection.
This edition achieved multiple functions such as online exhibitor display, online screening, video meeting, and online trading. The Exhibition this year, which attracted 441 registered film institutions and 338 domestic and foreign exhibitors, went virtual as the first to use a 3D+VR exhibition system among domestic film festivals, and offered global film institutions free booths, reducing the cost for 3 billion yuan. In this way, it provided exhibitors and guests with a digital, intelligent and efficient exchange and cooperation experience.
The Project Pitches collected 829 projects this year, up 13 percent from last year, which have great potential in different themes with clear positioning. 11 pitching projects and 6 WIP projects participated in the International Project Pitching. Among them, films such as The HUIS and Life on Edge won 9 awards of this section. Project Pitches, as an incubator of the BJIFF for potential young filmmakers, makes more young forces in the industry be discovered.
The Film Presentation in association with China Film Group Corporation and Huaxia Film Distribution was a highlight of the 10th BJIFF Beijing Film Market. As the first session of national film preview salon, it introduced and promoted 57major Chinese and foreign films such as Impasse and Vanguard.
A total contract amount of 33.089 billion yuan was achieved, an increase of about 7 percent year-on-year, hitting a new record high. The Beijing Film Market Contract Signing Ceremony has promoted negotiation and signing of 302 key projects over the past decade, with a total transaction volume of 165.028 billion yuan, a great validation of the acceptance and recognition of the platform in the industry.
The Industry Conversations, with a focus on hot topics such as "Young Directors' Rise to Power", witnessed the discussions and exchanges on the current situation and future development of the film industry, injecting new power and vitality into Chinese and world films.
The Beijing Film Market has fueled the recovery of the industry. Over the past decade, the BJIFF has always embraced the times and world on its way of professional, market-based and international development, thus becoming an everlasting film culture carnival.