The 2025 Sundance Film Festival was often perceived as an unusual event, with a selection prioritizing discovery over commercial success. However, for Tango Entertainment, which has a diverse portfolio ranging from Oscar-nominated films like “Aftersun” to Weird Al Yankovic’s movie “Weird”, and its leader Lia Buman, the festival stood out in a remarkable way.
Three films were showcased at Sundance, and among them, Tango secured the highest-grossing deal yet, when the supernatural horror movie “Together,” featuring Alison Brie and Dave Franco, was bought by Neon for a reported $17 million. Another title, “Sorry, Baby,” Eva Victor’s directorial debut, garnered excellent reviews at the festival and found distribution with A24. Lastly, “Magic Farm,” starring Chloe Sevigny, was snapped up by Mubi before the festival even began.
In an era where economic pressures are prompting some to retreat within the independent production sector, the six-member Tango team decided to invest more instead. They financed and produced a set of five films for release in 2024. Apart from “Together” and “Sorry, Baby”, their lineup includes “The History of Sound”, a historical romance starring Paul Mescal and Josh O’Connor, as well as the Olivia Coleman feature “Wicker”, which is currently under post-production. Additionally, they are keeping secret another project due for release in the following year.
Prior to the screening at SXSW, where “Together” will be showcased for a second time, Buman discusses the challenges associated with genres and collaborating with debut directors.
In the independent film industry, there’s often a great deal of frustration and tension. However, what makes it rewarding to work in the indie film world right now?
It’s encouraging to see companies such as Neon, IFC, A24, and Mubi thriving. They are in a strong position, business-wise. Not only do they cater to audience preferences in terms of genre, but they also interact with their audiences extensively – from the kinds of movies they produce, to the quantity of films released, and how they market these films.
Your company, Tango, had three films screened at Sundance this year, two of which didn’t have distribution yet. Although getting into Sundance offers a significant platform, for a small company like yours, having multiple titles at one festival might cause some apprehension. Could there be a risk of competing against yourself?
No, there were no nerves. I had a plan. (Laughs.)
What was the plan?
After the strikes brought about an eerie silence, Tango had established a solid reputation for his discerning taste, reliable partnership skills, and penchant for taking risks. This circumstance prompted me to envision an autonomous film equity financing portfolio. Last year, we produced and funded five distinct movies. Although our team is small, comprising only six individuals, I saw this opportunity during the stalemate. When people are engrossed in a single activity, my thinking often wanders towards, “What other possibilities could there be that we should explore?” I recognized that there won’t be much available in the market once things start to pick up again. Your strength lies in your choices, but I’ve been accustomed to such mindset due to my background as a theatrical buyer where my performance is openly evaluated. Tim Headington, who collaborates with me in our company, and I crossed paths after I spent a decade as a buyer. He financed Film District, and I worked there. The support, advice, and active participation that he offers Tango are crucial factors enabling us to accomplish all that we do. His belief in our goal of not just sustaining but strengthening the independent film community makes us strive towards becoming a cornerstone of it.
Reading through market content, we found high-quality material and had ample time due to strikes slowing things down. Our strategy was to submit two films to Sundance, as having more would make navigation challenging, potentially causing congestion. However, things turned out even better than anticipated.
What advice could you give someone who’s unsure about collaborating with a debut director, as both ‘Baby’ and ‘Together’ were the initial films for actress Eva Victor and director Danielle Krudy respectively?
In our initial production at Tango, Nia DaCosta helmed her debut feature film – a choice that instinctively felt right. Despite the inevitable doubts that arise, finding ways to mitigate them is essential. For us, working with a first-time director often means smaller budgets and an increased emphasis on producers as key collaborators and guides. The selection of the heads of departments becomes crucial in such scenarios. It requires more dialogue, more effort, and more persistence. However, the payoff is significant: not only do fresh directors often bring deeply personal narratives to the table, but their unique stories are a valuable addition to our repertoire.
In the domain of specialized cinemas, it’s been noticed that genre movies have been doing quite well. Over the last few years, there’s been a perception that genre is a more secure choice in independent filmmaking. However, what are the potential risks associated with producing and funding genre films?
The crowd is present, making it a more secure choice, but never underestimate their value. You must continue to honor and captivate them by exploring fresh, daring ideas. The danger lies in creating something merely because it fits into a specific genre. With so much existing content readily available across various platforms, you need to aim for the extraordinary if your goal is to cater to a theatrical audience. Often, this requires venturing into uncharted territories, which is typically the domain of emerging filmmakers.
What are the biggest headwinds facing the independent space right now?
One challenge we face is the high cost of producing a film in the U.S., as it can be difficult to strike a balance between meeting everyone’s expectations while keeping costs low enough for profitability. The marketplace is evolving, and there seems to be some improvement with more licensing deals and emerging distributors like Metrograph and Utopia. Nevertheless, we’re still in a situation where the success of our film can either ensure its survival or lead to it going unnoticed.
What are the lessons learned from the past year?
I’ve come to rely on my instincts as our constructed model has proven effective. I see vast potential ahead, although there are substantial risks involved. However, these can be strategically managed. It’s important to embrace budding talent. If you uncover compelling narratives and collaborate with filmmakers who resonate with you, pursue them wholeheartedly. Look for projects that have the potential to make a splash in the market.
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2025-03-08 19:25