AFM Sees Currency Gains

Good news for AFM! Foreign buyers are coming to the market with increased buying-power thanks to major rebounding from Euro, Yen, Canadian & Australian dollars.

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AFM Sees Currency Gains

by Jeff Steele

Good news for the 2011 American Film Market!

Optimism stemming from some-semblance-of-a-resolution (to the Greek debt crisis) has pushed the Euro to a seven-week high against the U.S. dollar.  This means that buyers from most of the world’s largest territories will be arriving in Santa Monica next week with extra buying-power (at no cost to sellers.)

More good news: the Japanese yen is also trading at record highs, which is terrible news for Japanese exporters, but is great news for Japanese buyers, who could be incentivized to buy more films than expected.

Not to be outdone, the Australian and Canadian dollars have also bounced-back against the dollar, as has the Dollar Index as a whole (which represents a basket of currencies tracking against the U.S. dollar.)

Having some extra shekels to spend should give the market a needed boost.  Just make sure your sales agent does not agree to any foreign exchange rate provisions in your sales contracts; otherwise, you could take a major hit if the dollar rebounds when it comes time to bank those contracts.

One Response leave one →
  1. BenL permalink
    October 28, 2011

    Nice! A bright spot. Good luck to those who could afford to produce in the first place.

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