NEON CEO on Industry Contraction: "Sadly, We're All For Sale"

NEON's co-founder and CEO, Tom Quinn, has spoken out regarding speculation about the indie distribution label being for sale amidst industry contraction. Addressing the topic at the Zurich Summit and later on the red carpet at the Golden Globes, Quinn acknowledged the reality of the market, stating, "Sadly, we're all for sale." He noted that while many companies are in a constant state of being 'for sale,' NEON operates differently, driven by passion and a dedicated team rather than being a publicly traded entity with a predetermined exit strategy.

Quinn expressed significant concern about the shrinking nature of the film industry and the lack of competition, but he also sees a silver lining. This contraction has created an "open lane" for NEON, and he anticipates other companies will emerge to fill the void. The label's strong presence at the Golden Globes, with 21 nominations, underscores its success, especially following its previous Oscar wins. Quinn feels "bullish" about the nominated films, calling them the "best movies of the year."

NEON's nominations include multiple Cannes Film Festival award winners. Quinn emphasized NEON's identity as a "small independent studio" dedicated to "cinema from the world over" and operating at a different budget level than "billion-dollar juggernauts." He expressed being overwhelmed and excited by the recognition these films have received at the Golden Globes, viewing it as validation and the "lifeblood" of the company.