13th February 2013 - Update of 2013 Conference Market so far
The conference market for the first half of 2013 has been extremely mixed. The year kicked off with a quiet MIDEM. Speaking to our clients and other delegates, this was a quieter year for the conference. We rented 2 of our 4 apartments, where in recent years we have generally rented 3 or 4. The industry continues to experience a difficult trading environment with the conference this year being help with the backdrop of both HMW and Virgin Music France going into administration in early January. In sharp contrast, it seems the property market has come through the worst of the Credit Crunch with demand for MIPIM very high this year. All 4 of our apartments are booked and we could have sold them many times over. It promises to be a well attended event and one of the biggest MIPIMs ever seen.
Looking ahead a little further, MIPTV seems to have suffered greatly from the new shorter format this year. In recent years we have been fully booked with the same repeat customers, but this year none are coming to MIPTV. Speaking to other property companies in Cannes they have all seen much lighter demand compared to recent years. We have had to adjust our prices accordingly dropping prices an average of 10-15% across the board. Even at these reduced rates demand remains very light. My personal feeling is that many media players will concentrate on MIPCOM instead and unless the organisers make a real effort with MIPTV 2014, that we shall see a gradual phasing out of MIPTV and a much bigger MIPCOM going forward.
And finally the Film Festival remains as strong as ever. Both our 3 bedroom apartments rented 6 months before the Festival and we are currently seeing very high demand for our 2 bedroom apartments, both of which are currently still available.
For details of all our apartments including prices, please visit our Rates page.