Neon continued its Cannes record with six consecutive Palme d’Or winners, including this year’s ‘It Was Just an Accident’|@neonrated|X
The recent Cannes Film Festival wasn’t just about red carpets and premieres—It became a battleground for indie film supremacy, especially among studios like Mubi, A24 and Neon.
Mubi made headlines by acquiring global rights to The Substance, which grossed $17 million domestically and earned five Oscar nominations.
The London-based streamer also locked in Die My Love, starring Jennifer Lawrence and Robert Pattinson, for $24 million. Additionally, it premiered its first in-house production, The Mastermind, at the Cannes Film Festival.
It has recently reached a $1 billion valuation and secured a $100 million funding round led by private equity firm Sequoia.
Meanwhile, Neon film production and distribution company continued its Cannes record with six consecutive Palme d’Or winners, including this year’s It Was Just an Accident.
A24, the OG indie movie studio, has shifted to blockbuster mode, dabbling in bigger IP like an upcoming Elden Ring video game adaptation. The studio is valued at $3.5 billion and raised $250 million last June.