The Hunt For The Next ‘Obsession’ Continues At AFM, Where A24’s ‘Elden Ring’ & New Films With Jeremy Renner, Idris Elba, Gillian Anderson & Renée Zellweger Hit The Market: Hot List + Analysis

The American Film Market kicks off in Los Angeles today and the market is awash with affordable horror projects as the industry chases the next Obsession, Backrooms or Buddy. “The projects are pouring in like an avalanche,” one buyer told me in recent days. “But it’s saturated in genre. If I hear one more time that the movie is in the vein of Obsession, I’ll scream,” they eye-rolled. The good news is that projects like Obsession, Backrooms and Buddy existed in the market at all. They have helped fuel a resurgent theatrical box office this year. None of the above were market packages per se, but indies in different territories had a shot at each of them. Two of the three launched at festivals, and Backrooms was on sale in the market via A24, which set the project up. Eventually, each of them had or has a studio aboard in some form, however. That’s still a key component for many breakouts. “The horror game is so unpredictable,” one international distribution vet said to us. “And it’s so dependent on whether there’s a studio release in some form. If Obsession had been in the hands of indies alone I doubt it gets close to where it ended. We need that driving force from the U.S. on a project. That’s where the buzz starts.” Watch on Deadline That’s true across genres. Would La Bola Negra have grossed record numbers for indie Elastica in Spain if Netflix hadn’t been aboard for most of the world and was fuelling a global campaign? Possibly. It absolutely happens. But that studio support is still sought after. Among the horror standouts this market look to be NorthFiveSix’s Seeker with Cooper Tomlinson, Jessica Rothe and Mika Abdalla and FilmNation’s Violet with Lili Reinhart, Danny Ramirez and Suki Waterhouse. A number of leading sales companies have yet to announce a new title this market, but there are still a few high-profile packages coming together that could be announced this week depending on elements getting locked down. Despite the last few days being busy, the volume of solid projects actually looks a little leaner than most markets. Some will complain about that, others don’t see it as a bad thing. (See our AFM hot list below.) The big-ticket project on sale is A24’s Elden Ring, which comes with a budget in the $180 million-$200 million range, making it the biggest budgeted stand-alone film ever at a film or TV market. We told you all about the project a couple weeks ago. Amazon has already taken a host of rights off the table, leaving less for indies. While Netflix has pulled back from splashy market acquisitions, Amazon remains hungry. Some industry watchers have speculated to us that the studio wants to fortify itself given the Warner Bros-Paramount merger, and potentially steal a march on Netflix, which is still weighing up who will lead its film division. There are also new packages for AFM with Jeremy Renner, Idris Elba, Liam Neeson, Gillian Anderson and Renée Zellweger. Which pre-sales project generated the most clicks on Deadline.com in recent weeks? That would be Jean-Claude Van Damme action pic Katana. Very fitting for the AFM. Among fun screenings will be Stuntnuts, the Matthew Vaughn- and Cristiano Ronaldo-produced action movie which is a homage to stuntmen and women and features some A-list cameos. Jean-Claude Van Damme in 1988’s ‘Bloodsport’ Everett Collection Standout titles in the prestige/drama space include Julianne Moore drama Moonsong: A Life In Seven Verses and Armando Iannucci’s untitled conspiracy thriller with James McAvoy, Alicia Vikander and Taron Egerton. There’s no lack of volume in the market. But quality is harder to come by, according to buyers I’ve spoken to. “I’m usually an optimist,” one foreign buyer told me. “But this is bad in terms of quality. I thought hard about not making the trip.” Multiple AFM regulars we’ve spoken to won’t be making the journey to Los Angeles this edition. They herald from sales, distribution and publicity. That’s not only product-related, but also down to company budgets, how dealmaking happens these days, and one said they didn’t want the immigration hassle at LAX. Part of the problem is that there’s only so much talent to go around. One Oscar-nominated actress is in five projects on sale at the market. Nicolas Cage is in at least three. Patrick Wachsberger’s 193 has two Jeremy Renner action films. With fewer bankable names in Hollywood — at least in terms of being sure things to open a movie theatrically — and with most still being tied up in series and studio projects, that brings us back to the surge in genre. In terms of breaking out, a well conceptualized horror is less dependent on major name talent than some other genres. “We were hoping for a busy AFM after Toronto turned out to be quieter than expected,” an international seller told us. “We likely won’t go back to Toronto next year given how quiet it was. But so far we’ve heard from multiple buyers that aren’t coming to AFM. There are currently too many sales companies and not enough good product to go around. Ideally, some of these companies that have been in the game a long time would bow out and create space for the next generation.” Meanwhile, amid consolidation and the collapse of the pre-sales model, indies continue to fortify themselves. Lokia is the latest response to shifts in the landscape: a network of 12 international buyers who will collaborate on projects via production and acquisition. AFM 2026 HOT LISTFantasy epic Elden Ring with Kit Connor (read more here)The Long Island Bank Robber with Taylor Kitsch, Alexandra Daddario and Christopher Walken (read more here)In Laws with Idris Elba directing and starring (read more here)Stuntnuts from producers Matthew Vaughn and Cristiano Ronaldo and featuring A-list cameos (read more here)Jeremy Renner London-set action pic 12 Bullets from Thunder Road (read more here)Nicolas Cage and Alexander Ludwig true-crime thriller The Brand (read more here)Kate Mara dark comedy Home Shopper (read more here)Gillian Anderson & Rebecca Hall thriller The Portrait (read more here)Cooper Tomlinson, Jessica Rothe and Mika Abdalla project Seeker (read more here)Jean-Claude Van Damme martial arts return in Katana (read more here.)Jeremy Renner and Josh Brolin thriller A Speck in the Sea (read more here)Rebecca Miller’s starry drama Moonsong (read more here)Liam Neeson Hockey drama Believe 13 (read more here)James McAvoy, Alicia Vikander & Taron Egerton thriller from Armando Iannucci (read more here)Renée Zellweger, Dominic Sessa & Peter Dinklage Dramedy (read more here)Amanda Seyfried in Ramy Youssef’s Martha & Muhammad (read more here)Jonathan Bailey and Bill Nighy in Love Story Insomniac City (read more here)Lili Reinhart, Danny Ramirez & Suki Waterhouse in Violet