Striking Gold

When news of her best actress Oscar nomination was announced, 13-year-old "Whale Rider" star Keisha Castle-Hughes was exactly where she should've been -- in bed on a school night. When she woke up the next morning, though, life was anything but normal in New Zealand.

"At 8 in the morning, there were over 100 reporters at her house," says Newmarket president Bob Berney, whose studio acquired "Rider" at the 2002 Toronto International Film Festival. "New Zealand is going crazy."

They're not the only ones. With two nominees in the best actress category -- Castle-Hughes for "Rider" and Charlize Theron for "Monster" -- Newmarket has cause for celebration, as do several other independents with nominees in the Academy's most high-profile races. At last, it seems the oft-hailed "Year of the Indie" might have arrived.

But perhaps even more interesting in terms of the upcoming American Film Market is that many of Oscar's choices -- "Monster," DreamWorks' "House of Sand and Fog," Focus Features' "Lost in Translation" and Lions Gate's "The Cooler," among others -- were being sold at last year's market. That, in turn, is shedding much-needed attention on the quality of product available at AFM.

"I do think that it's traditionally been (that) a lot of these films get previewed or premiered in festivals and markets because those are the natural sort of filtering systems for all of these films out there," Berney says.

Adds Guy Stodel, senior vp acquisitions and co-productions at Fine Line, whose "American Splendor" holds a nomination for best adapted screenplay for co-writers Shari Springer Berman and Robert Pulcini: "The AFM, among other markets and festivals, is an essential part of our business to augment our slate. It is also a fantastic forum to stay in tune with the international and local film community."

Although festivals and markets carry a reputation of showcasing the highest quality of the indie film world, rarely are they recognized as strong competition against mainstream studio films -- but this year might mark the turning point. Lions Gate's "Girl With a Pearl Earring" is among the indie films competing in categories -- art direction, cinematography and costume design -- typically dominated by major Hollywood features with huge budgets.

"We're really heartened that in a year of such huge, epic period pieces from the studios -- films such as (New Line's) 'The Lord of the Rings: The Return of the King,' (Miramax's) 'Cold Mountain' and (Warner Bros. Pictures') 'The Last Samurai,' among others -- the film has really shined against the kind of pictures that dominate the categories 'Girl' is nominated in," says Lions Gate Films Releasing president Tom Ortenberg, whose studio also boasts a supporting actor nomination for "Cooler's" Alec Baldwin.

Fox Searchlight's "thirteen" enjoyed strong buzz coming out of the 2003 Sundance Film Festival, but some insiders wondered if its August release date would hurt its awards-season chances. They needn't have worried: Holly Hunter's supporting actress nomination serves as yet another indication that executives need to watch film markets and festivals closely.

"The highest quality of independent films sort of bubble up through the filtering process of festivals," Fox Searchlight president of marketing Nancy Utley says. "So the festival helps the buzz, and I think (2001's) 'In the Bedroom' really woke people up to how successful these smaller movies could be in awards season."

With Oscar campaigns in full swing, many of the indies are eagerly awaiting the events of the coming week. With the 2004 Sundance Film Festival come and gone, next year's Oscar contenders could well be waiting to be acquired during the coming weeks and months.

"I think for acquisitions, the main festivals are where you're going to find (these indie films)," Berney says. "Not that they're the total end-all, but that really is a way to cull them down."