SXSW Accomplishes Historic Movie Deal

By Randee Dawn

AUSTIN, Texas (Hollywood Reporter) – When it kicked off March 7, the South by Southwest Film Festival wasn’t necessarily in line for a watershed moment. The easygoing, jeans-and-beer atmosphere, which will come to an end Saturday, made for a casual set of films, interactive panels, a trade show and several raucous days of concerts.

But 2008 will long be marked as the year in which SXSW took a giant step forward, because it was the year an acquisition was made during the festival.

“Nights and Weekends,” the sexually explicit story of a relationship breakup assembled by the so-called “mumblecore” mavens Joe Swanberg and Greta Gerwig, landed a deal through IFC Entertainment, thus ratcheting up the excitement level throughout the Austin Convention Center.

True: IFC Entertainment is one of SXSW’s major sponsors. True: IFC had picked up the duo’s “Hannah Takes the Stairs” the year before. Also true: A deal with IFC is not the same as a deal with a major studio; some insiders mutter that it’s the haven of last resort.

Nevertheless, the sale improved the festival’s credibility.

“Any festival needs to evolve and grow, and with the IFC sale it’s growing toward being a buyer’s festival,” said Picturehouse vp acquisitions Lindsay Crain, who adds she’s taking several films she viewed at SXSW home for consideration.

“Traditionally the films coming out of SXSW are a slow burn. Someone buys them later and they gain momentum, but I think that’s going to change,” Crain said.

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(PS – I have some thoughts on this and will be sharing them in a related article next week…that’s right, don’t move an inch.)

VIEW A SCENE FROM “NIGHTS AND WEEKENDS” BELOW: