The American Film Market (AFM) 2025 returned to the Fairmont Century Plaza in Los Angeles - a location that proved to be central and compact, ideal for short distances between meetings, screenings and agencies. Around 285 exhibitors from 35 countries took the opportunity to present projects and initiate deals. The atmosphere was noticeably lively after the industry had been characterised by uncertain markets and pandemic-related restrictions in previous years.

Despite the positive sentiment, the number of deals concluded fell short of expectations. Many productions had set their asking prices at the previous boom level, while declining cinema and aftermarket revenues (Pay-1, SVOD) weakened confidence in high minimum guarantees. Distributors are therefore increasingly opting for more cautious contract structures, with smaller advance payments and stronger ties to the actual success of a film.

Clear, marketable projects were particularly in demand. Genre films, especially horror, continued to prove their appeal - and showed that creative low-budget concepts can also move the market. Successful packages such as "Phantom Son" by AGC proved that a strong concept and well thought-out distribution are crucial.

A key trend at AFM 2025 is the increasing importance of data. The new "FilmTake Advance Index" provides verified figures on minimum guarantees from international deals. Producers and buyers can thus derive realistic market values and base negotiations on facts rather than optimism. Regional differences remain clear: while France, Japan and the GCC region offer more stable advance payments, markets such as Germany, Italy and South East Asia are seeing declining guarantees, especially for projects without stars or a clear concept focus.

One highlight of the trade fair was the reorganisation of Pathé: with new managers and high-calibre projects such as "Bunker" with Penélope Cruz and Javier Bardem, the English-language film business is being repositioned - a step that could have a lasting impact on co-productions and international financing.

AFM 2025 showed that the market is stabilising, but risks remain. Cautious deal structures, data-driven decisions and clear project strategies define the scene. Those who know the figures and present their projects smartly have the best chance of being successful in the current environment.