In the lead-up to its highly anticipated world premiere in competition at the Cannes Film Festival, Francis Ford Coppola’s monumental 135-minute epic ‘Megalopolis’ has secured a significant distribution deal with Le Pacte, a respected French independent film company. Le Pacte, headed by veteran French distributor Jean Labadie, is currently finalizing negotiations to bring ‘Megalopolis’ to French audiences. This move may seem surprising given the film’s substantial budget, which reportedly stands at $120 million. However, Le Pacte’s recent successes with films like Justine Triet’s ‘Anatomy of a Fall’ and Maiwenn’s ‘Jeanne du Barry’ demonstrate its commitment to distributing high-quality cinema, even on a modest scale.
Despite securing a French distributor, ‘Megalopolis’ continues to face challenges in its quest for a global distribution deal. Coppola, who self-financed the film, is reportedly seeking an additional $60 million in marketing and advertising (P&A) commitments from potential buyers, along with a revenue-sharing agreement that would grant producers, including Coppola himself, a significant portion of the film’s earnings in France. These demands have reportedly discouraged some prospective buyers, including major studios and streaming giants.
The deal with Le Pacte suggests that ‘Megalopolis’ may not find a worldwide distribution partner before its Cannes premiere. However, securing a French distributor is crucial for the film’s eligibility to compete at Cannes, which requires all films in competition to have local theatrical distribution in France. This strict guideline was implemented after the controversy surrounding the inclusion of two Netflix films, Bong Joon Ho’s ‘Okja’ and Noah Baumbach’s ‘The Meyerowitz Stories,’ in competition in 2017.
Despite Netflix’s absence from Cannes in recent years, other streaming services like Amazon and Apple could still be in contention to acquire ‘Megalopolis.’ Both services have demonstrated a willingness to partner with traditional distributors for theatrical releases, as seen with Martin Scorsese’s ‘Killers of the Flower Moon,’ which premiered at Cannes and was released in theaters by Paramount.
Coppola’s attendance at Cannes, alongside other cinematic luminaries like George Miller with ‘Furiosa’ and George Lucas, who will receive an honorary Palme d’Or, underscores the significance of the festival for ‘Megalopolis’ and its ambitious filmmaker. As the festival approaches, all eyes will be on the fate of this highly anticipated cinematic endeavor.
