What's Really Going On With Film Festivals Right Now? A breakdown of Keri Putnam's Harvard Independent Film Study and Eventive's Whitepaper

This has been a hot topic for a while now, and oftentimes if feels like the independent film world can’t quite keep up!

Thankfully, there have been two recent incredible reports: Eventive’s 2024 White Paper and Keri Putnam’s Independent Film Audience & Landscape Study. They offer some pretty eye opening insights.

If you’ve been wondering whether festivals are bouncing back post-Covid or if the whole system’s falling apart, you’re not alone. Let’s break it down.

The Big Question: Are Film Festivals Growing or Shrinking?

Eventive says yes.
Their data, pulled from 10 million tickets across 2,400+ festivals, shows festivals are rebounding fast. Revenue is up 36% compared to pre-pandemic levels, and average ticket sales per event are back to where they were before 2020. They argue that hybrid models (virtual + in-person) and strategic use of passes and memberships are key growth levers.

Putnam says... it’s complicated.
Her study (through Harvard’s Shorenstein Center) surveyed film professionals and festivals and found that ticket and pass sales have actually dropped by 31% on average between 2019 and 2023. Large festivals have been hit the hardest, with nearly a 50% drop in ticket sales, while some small festivals are actually growing. This could be why we’ve seen festivals like Sundance announcing big changes this year. So, growth really depends on where you’re looking.

Takeaway:
Growth isn’t universal. While platforms like Eventive show financial recovery within their ecosystem, many festivals outside of it, or those operating on tighter budgets, are still struggling. Think of it less like a fresh set of cards, and more like reshuffling the deck.

Memberships & Passes: Secret Weapons?

Both reports agree on this: memberships and passes are a festival’s best friend.

• Eventive found that festivals with memberships earn significantly more in ticket revenue. Sometimes tens of thousands. And they recover faster from downturns.
• Putnam’s study backs that up, noting that festivals with membership programs saw a smaller decline in sales and much larger email and social followings.
  

Passes are also a game-changer. Eventive calculated a nearly 50% average increase in revenue for festivals that offer passes compared to those that don’t, even when total ticket numbers were about the same.

Takeaway:
If you're running a festival, give people something to belong to. Memberships build loyalty. Passes offer flexibility. Both offer exclusivity, and make your audience more invested.

Virtual Screenings: Covid Influx or Here to Stay?

At this point, we’ve all watched a movie online. But should film festivals stay virtual?

Eventive says yes.
Virtual screenings don’t just help festivals survive, they help them expand. Festivals offering hybrid models saw real revenue from online events, and Eventive’s data shows the majority of them made more than they spent on virtual programming.

Putnam agrees…with a caveat.
Her study found that festivals with virtual screenings in 2023 lost fewer ticket sales and had more engaged fanbases. But she also notes that the emotional, in-person “festival experience” still matters. And virtual should complement, not replace.

Takeaway:
Virtual isn’t going away. It’s an accessibility and revenue win. But in-person events are still the heart of what makes festivals special.

So What’s Next for Film Festivals?

Both reports end on a hopeful, yet urgent note.

• Eventive encourages festivals to lean into data, experiment with pricing, and embrace hybrid models.
• Putnam emphasizes the need for better data-sharing, smarter marketing, and more public funding, especially for smaller scrappy festivals.

The biggest shared takeaway? Festivals have an opportunity. Putnam’s research found about 6.6 million people attended U.S. film festivals in 2023, but the estimated fan base is closer to 20 million. That’s a huge gap between the people showing up and the people who could be if festivals knew how to reach them and turn them into attendees.

And it doesn’t stop there: Putnam’s study also found an estimated 40 million Americans who are interested in independent film but aren’t currently being captured by traditional distribution. The challenge isn’t just "getting more people." It’s understanding who the audience really is, how to engage them, and how to sustain that relationship over time.

Both studies stress the need for a more data-driven, informed approach to audience development. This is something that many festivals, especially smaller ones, haven't had the resources to build yet.

This is exactly what we've identified at Hiike, and what’s driven us to build our platform.

Hiike is a festival research, submission, and management platform for both filmmakers and festivals. We use data to take the guesswork out of submissions for filmmakers, while also helping festivals better manage their submissions, programming, and sponsor engagement.

The future of festivals isn’t just about getting bigger. It’s about getting smarter, and Hiike is here to help lead the way.

Final Thoughts

The film festival world is far from dead. We’re just evolving. And if you’re a filmmaker, organizer, or film lover, these two reports offer really important information that really outline the trends in this period of evolution.