Is amFAR’s Cannes gala declining in popularity? Or is just that fewer people are ponying up for tickets?
According to the charity’s most recently available Form 990, dated 2015 but for the year 2014, things took quite a tumble that year.
The Form 990 indicates gross receipts of $15.9 million at the 2014 gala. But the 2014 Form claims a whopping $24.8 million in gross receipts.
What’s interesting is that amFAR announced it had made $35 million at the 2014 Cannes event. So that means around $20 million from millionaires and movie stars who bought expensive items or made pledges at the live auction.
That’s fine for the high rollers who are brought in for this purpose. But with overall paid tickets down by so much, you do wonder is this all worth it? And why aren’t people paying for their tickets?
Compare and contrast: amFAR’s two other events in 2014 did better than they had in 2013. Each of the two events they list on the Form 990– one in Dallas and one called “16” in 2013 and “17” in 2014– were up slightly gross receipts from year to year.
The annual amFAR Cannes extravaganza comes on the second Thursday of the film festival. Its status has declined precipitously over the years as major movie premieres are scheduled against it, and many of the big stars have already come and gone from the festival. A nearly $9 million drop in gross receipts suggests that more and more guests are being shipped in gratis — a lot like the Met Ball at the Metropolitan Museum or the Night Before fundraiser during Oscar week.