One of the risky acquisitions includes “Palm Springs” which was acquired by a couple of Neon and Hulu at the Sundance film festival 2020. Despite being a risky choice, they believed what Amazon quoted last year about comedy genres being the key to streaming.
At first several days, there was graveyard silence in the acquisition market but suddenly news of six acquisitions of various 2020 Sundance movies broke out one by one. One of the trickiest ones was “Palm Springs” in $15M. Neon and Hulu’s bidding triumphed over the bidding of A24 and Netflix. The deal was even bigger than last year’s Amazon’s acquisition of “Late Night” which was sealed in $13M.
The romantic-comedy film premiered at 2020 Sundance film festival and revolves around a dramatic romance between a maid of honor and Nyles (Andy Samberg). They meet at a wedding and after a while things become complicated and both are stuck with each other.