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# Hollywood’s hottest hit SM
- URL: https://www.smdp.com/hollywoods-hottest-hit-sm/
- Published: 2006-11-01T16:00:00.000Z
- Updated: 2026-10-23T21:57:02.000Z
- Author: Kevin Herrera
- Tags: Entertainment, Downtown, #archive-import

*The bidding wars start with sights set on Oscar*

OCEAN AVENUE — For the next seven days, downtown Santa Monica will become the world’s largest board-room, as thousands of filmmakers from roughly 70 countries gather in local hotels and movie theaters to compete in an intense bidding war for the latest crop of Oscar hopefuls.

While film festivals like Cannes and Sundance provide opportunities for celebrities and Hollywood hot-shots to celebrate the art and culture of filmmaking, the American Film Market (AFM) is more like an extended power lunch where independent films are scrutinized and producers make bids in hopes of landing a lucrative project.

Since its 1981 inception, AFM — which opens today and runs until Nov. 8 — has hosted the first screenings of 14 Oscar winners, including last year’s “Crash,” written and directed by Santa Monica resident Paul Haggis, who also wrote the Oscar-winning film and AFM alum “Million Dollar Baby.”

AFM, which is based in Westwood, is a non-profit, trade organization representing independent film companies from 22 countries, said Jonathan Wolff, executive vice president of the Independent Film & Television Alliance and managing director of AFM.

“The key difference between us and most trade shows is that the exhibitors there are looking to generate new leads... and follow up weeks later to generate new business,”Wolff said. “That’s not the case with AFM. On the first day, filmmakers aren’t wondering who will come by. All but the weakest films have full schedules for three or four days, contacting buyers on what they have available, new projects getting under way.”

Wolff estimates $800 million worth of transactions will be made during the market’s run.

“Many people use the term ‘independent’ for something that is edgy, auteur, low budget. That’s absolutely wrong,” Wolff said. “The word independent, in any industry in the world, means separate and apart from the market leaders. In the auto industry, Damien Chrysler, Ford, GM — they are all majors, whereas Ferrari is independent.”

The AFM will open with a record-breaking 589 films, a 10 percent increase over last year. All 23 movie screens on the Third Street Promenade and the surrounding community become AFM screening rooms, where participants may view more than 900 screenings. The Loews Santa Monica Beach Hotel will serve as the base of operations again this year, while Le Merigot hotel will play a supporting role.

The citywide event is expected to generate between $15 million and $17 million in total spending, with a hotel room block of 1,300-plus room nights during the eight-day run.

The Santa Monica Convention and Visitors Bureau (CVB) funded a report on the economic impact of AFM locally and found that the event contributes $11 million to the local economy, generating an estimated $500,000 in taxes for City Hall and $300,000 for the state. The breakdown of tax revenues generated for City Hall are approximately $400,000 collected from hotel taxes and $100,000 in retail sales tax and related fees.

“To host such a high-caliber event in our off-season that increases revenues for our local businesses and city coffers continues to be invaluable,”said Misti Kerns,president of the CVB.

AFM has called Santa Monica home since 1991 because of its combination of several movie theaters, thousands of feet of exhibition space, several hotels with varying rates and an ambiance that suits those who work in the entertainment industry, Wolff said.

“Our entire show is essentially between Wilshire and Pico (boulevards) and Fourth Street to the beach,” Wolff said.

In addition to providing City Hall and local businesses with revenue, AFM also offers residents of Santa Monica the chance to see new films for free by registering on the market’s web site, www.americanfilmmarket.com.

Those who wish to have complete access to all films must pay a fee of $775\. Those who only want to spend one day at the market can purchase a daily pass for $250.

*Originally published in the Santa Monica Daily Press print edition on November 1, 2006.* [Read the original PDF.](https://s3.us-east-1.amazonaws.com/smdp%5Fbackissues/110106.pdf?ref=smdp.com)