Cannes: How the Event Brings in $33 Million in Just 12 Days
This story first appeared in the May 16 issue of The Hollywood Reporter magazine.
These are direct subsidies from the Ministry of Culture's National Cinema Centre, the Provence regional government and the county of Alpes-Maritimes.
Attendance fees range from $387 to $552 (€279 to €398). Multiply median figure $469 by the more than 12,000 participants expected this year for $5.63 million (€4 million) in badge revenue.
The market fees estimated here are for renting out the International Village pavilions and booths in the basement of the Palais that comprise the Cannes Film Market. Each square meter of 4,500 in interior space costs $587 (€423), while each square meter of 2,500 of terrace space costs $293.50 (€212).
About $6.9 million (€5 million) of the total figure (which includes barter deals) comes from main sponsors Chopard and L'Oreal, which have five-year-plus contracts. In exchange for publicity, Renault provides a fleet of 250 cars, 100 to specifically service the red carpet. The fleet is created especially for Cannes, with tinted windows for thwarting paparazzi and festival branding.
THE CITY OF CANNES
The $2.76 million are direct subsidies, but the city also provides $5.52 million (€4 million) worth of services free of charge, including the use of the Palais and the Villa Domergue for the final Palme d'Or deliberation by the jury. The festival is not charged for security costs because the additional 100 police and gendarmerie are provided gratis by the French government. As for cleaning, the city cleans its streets daily and spreads those costs across all the festivals throughout the year (including Midem, MIPTV and MIPCOM). In return for its $2.76 million, the city economy rakes in $269.24 million (€194 million) over the festival's 12 days, or $22.4 million a day.
Paid by Canal Plus for TV rights for opening and closing nights and special programming. Canal Plus in 2010 paid €6 million, but the price most likely has gone up.