Rising Interest Rates, a Fading Theatrical Movie Business and a Post-Strike Hangover: Breaking Down the Threats Facing the Cannes Market
Paul Schrader was about to start shooting “Oh, Canada,” his adaptation of Russell Banks’ novel about a troubled artist taking stock of his life, when the major actors union went on strike. For a second, it looked like all that hard work, passion and planning might be for nothing — with performers on the picket lines and major studios holding out on their contract demands, it was hard to see how cameras would ever roll on the low-budget indie. “Everything shut down,” said Brian Beckmann, the CFO and COO of Arclight Films, which is selling international rights to the film.