Breakthrough of independent film

In 2022, the film's revenue in North America was 811.7 million USD and globally was 1.26 billion USD.

Low cost, high profit

Of course, it is difficult to compare the revenue of independent films with the "huge" revenue of blockbusters, but in terms of profit margin, it is clear that independent films are attractive because of their low investment costs but the ability to bring in revenue double, triple, or even 10-20 times higher than the production cost.

Sophie Wilde (as Mia) in Talk to Me

For example, the horror film Talk to Me , which cost just $4.5 million to make, grossed $92 million. The teen comedy Bottoms grossed nearly $13 million on a $1.3 million budget. Sound of Freedom earned $250 million worldwide on a $14.5 million budget.

Scene from the movie Godzilla Minus One

Godzilla Minus One, directed by Japanese director Takashi Yamazaki and distributed by Toho, was also a big hit, grossing $87 million on a $15 million budget. Focus Features had the year's top gross with Wes Anderson's Asteroid City ($54 million on a $25 million budget). The Holdovers , directed by Alexander Payne and starring Paul Giamatti, grossed nearly $20 million on a budget of less than half that.

Sound of Freedom earned $250 million against a production budget of just $14.5 million.

Independent film distributors such as Magnolia Pictures, IFC Films, Utopia, Oscillograph, Kino Lorber, Roadside Points, Greenwich Entertainment, IFC Films, A24, Picturehouse, Crunchyroll, Well Go USA, Blue Fox, Toho, Neon, Angel Studios… have all had successful works when released in theaters.

"The strong resurgence of independent films in 2023 is really generating heat, not only at the box office but also creatively, critically, and commercially," Comscore senior media analyst Paul Dergarabedian told Deadline Magazine .

The decline in audience interest in superhero movies is also a reason for the rise of independent films. In 2023, corporations like Disney and Warner Bros. failed in terms of revenue because they made unattractive superhero movies like Shazam! Fury of the Gods ($125 million production, $133 million gross; lost about $58 million when having to share 50% with the theater system), The Flash ($220 million production, $270 million gross; lost $85 million), The Marvels ($220 million production, $205 million gross; lost $118 million), Aquaman and the Lost Kingdom ($215 million production, $275 million gross)...

Blockbusters with huge production budgets also lost money: Indiana Jones and the Dial of Destiny (lost $17 million) and Mission: Impossible - Dead Reckoning Part One (lost $20 million) contributed to the increased interest of producers in independent films.

Huy Khanh (left) and Quoc Cuong in the movie Lat mat 6: The ticket of destiny

"It's an interesting time when Marvel and DC superhero movies are getting less attention. Hopefully that will create a new direction for more independent films with more unique storytelling," said Kyle Greenberg, marketing director of Utopia.

5 Vietnamese films to gross over 100 billion VND in 2023

The highest revenue is Mrs. Nu's House with 475 billion VND, followed by Lat mat 6: The fateful ticket (273 billion VND), Dat rung phuong nam (140 billion VND), Super cheat meets super mud (122 billion VND), Chi chi em em 2 (121 billion VND).

Independent films by female directors are on the rise

Indie Women , an analysis of films screened at US film festivals, found that female independent film directors have reached a new milestone. For the first time, festivals are screening an equal number of films directed by women and men.

The study was conducted by Dr. Martha Lauzen, Executive Director of the Center for the Study of Women in Television and Film at the University of San Diego (USA). "Independent films directed by women continue to make progress at major film festivals in the US, where their films are better promoted than in previous years," said Ms. Martha Lauzen. Past Lives by Celine Song, You Hurt My Feelings by Nicole Holofcener premiered at the 2023 Sundance Film Festival. Aftersun directed by Charlotte Well premiered at the 2022 New York Film Festival. Bottoms directed by Emma Seligman and Joy Ride by Adele Lim premiered at the annual event for film, interactive media - SXSW 2023...

Independent films (often referred to as indie films) are films produced on a low budget, often relying on private investors, sponsors, or crowdfunding campaigns.

One of the defining characteristics of independent film is creative freedom, unique and unconventional storytelling. Independent filmmakers can choose to release their films in theaters, film festivals or digital platforms to reach their target audience.

Many famous filmmakers started out with independent films, using it as a platform to showcase their talent and unique perspectives.

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