Neon keeps on winning. The American independent film production and distributor has once again proven its uncanny knack for backing Cannes gold. On May 24, the Iranian drama It Was Just An Accident won the coveted Palme d’Or at Cannes, marking the sixth consecutive time a Neon acquisition has taken home the prestigious film festival’s top prize.
Neon had purchased the North American rights to the movie just two days before it was announced as the top winner. A darkly comedic tragedy about a group of former Iranian prisoners seeking revenge on their tormentor, It Was Just an Accident, now joins the ranks of Neon’s Palme d’Or-winning roster, which includes 2024’s Cannes darling and Oscar-winner Anora, the 2023 French legal drama Anatomy of a Fall, the 2022 black comedy Triangle of Sadness (starring our very own Dolly de Leon), the 2021 car-fuelled horror Titane, and the 2019 Korean social satire, Parasite.
Winning Strategies
The distributor’s sharp taste in movies doesn’t just stop at Palme d’Or winners. Neon has also snapped up the U.S. rights to acclaimed Cannes titles like Portrait of a Lady on Fire, Broker, and The Seed of the Sacred Fig, all of which have won prizes at Cannes in various categories. Looking over Neon’s catalogue recalls the early days of A24, when a smaller, selective studio built its reputation on a steady stream of smart, well-chosen films.
While it might be tempting to attribute Neon’s Cannes-winning streak to sheer luck, the reality is far more deliberate. CEO Tom Quinn has been open about the calculated strategy behind the studio’s success. Part of this strategy includes casting a wide net when it comes to purchasing the distribution rights of multiple Cannes contenders. Besides purchasing the rights to It Was Just an Accident at this year’s festival, the distributor also bought the Brazilian thriller The Secret Agent, the Spanish drama Sirât, and the Natalie Portman-voiced animation Arco. Prior to this year, Neon also purchased the rights to Orwell: 2 + 2 = 5, Splitsville, Alpha, and Sentimental Value, all three of which made giant waves at this year’s Cannes. Sentimental Value even brought home second place, or the Grand Prize.
Part of its 2019 Cannes success was acquiring Portrait of a Lady on Fire, which saw the distributor locked in a bidding war, with offers from Netflix and Sony Pictures Classics.
Emboldened by its success in 2019, Neon began to acquire more buzzy films in Cannes, such as Memoria by former Palm d’Or winner Apichatpong Weerasethakul and Cannes Best Actress winner The Worst Person in the World. In 2022, Neon bought the David Bowie docu Moonage Daydream, the British folk horror Enys Men, and Broker, which starred Parasite actor Song Kang Ho. In 2023, they bought future Oscar contenders Anatomy of a Fall and Robot Dreams.
These aren’t just simple investments. Neon spent $18 million promoting Anora up to its Oscar win in this year’s Academy Awards, winning Best Picture and Best Actress for Mikey Madison. They also spent roughly $4 to 5 million promoting Parasite in 2019, which resulted in four Academy Awards, including Best Picture and Best Director for Bong Joon Ho.
“I think it makes perfect sense, combined with having a really nice lead time, to be able to build a significant campaign, to focus on the theatrical window, and position your film properly,” Quinn said in an interview with Deadline. “I’m happy to share our playbook because it’s so obvious.”
Neon has also had a track record of translating this Cannes victory into box office success. Their highest-grossing film so far is Parasite, which earned nearly $54 million in the U.S. Last year, Anora brought in a cumulative U.S. haul of roughly $20 million.
Other Contenders
But is Neon the only top dog at Cannes? While the distributor did win big at this year’s festival, so did others: Mubi acquired 11 films in total at Cannes, including the rights to Die My Love, a psychological dark comedy starring Jennifer Lawrence and Robert Pattinson, which Neon also bid on. It also purchased the distribution rights to Sirât for Italy, Turkey, and India, as well as the American rights to the romance The History of Sound, starring Paul Mescal and Josh O’Connor. Mubi has also bought the rights to Jafar Panahi’s Palme d’Or winner, with distribution in locations such as Latin America, Germany, Turkey, Ireland, India, and more.
In 2024, after purchasing the body horror Cannes Best Screenplay winner The Substance starring Demi Moore, Mubi saw its most successful box office sales to date, raking in $14.8 million globally after only 10 days. Since then, the film has grossed more than $65 million worldwide.
Another American producer and distributor, A24, also saw success at Cannes, bringing home the distribution rights to Ari Aster’s pandemic western Eddington, Spike Lee’s Akira Kurosawa remake Highest 2 Lowest, and Harry Lighton’s directorial debut Pillion.
However, Neon’s Palme d’Or streak, with other acquisitions getting other trophies, from the Jury Prize for Sirât and two more awards for The Secret Agent, it seems that it has cemented its reputation as a certified Cannes whisperer.
