NEON, the distributor behind this year’s Cannes Palme d’Or winner Anora and the box office success Longlegs, has announced a $200 million-plus credit facility led by Comerica Bank. This significant investment will support NEON’s plans to bolster its acquisition, development, production, and distribution efforts, including ventures into new markets. With high-profile projects like They Follow, the sequel to its early hit It Follows, on the horizon, NEON aims to capitalize on its momentum and push for bigger, more ambitious productions.
This move aligns NEON with its competitor A24, which recently raised $250 million to support larger-scale productions like Civil War and the upcoming Marty Supreme starring Timothée Chalamet. As NEON CFO Ryan Friscia and Comerica’s Derek Riedel highlight, this financial boost reflects a shared belief in the distributor’s ability to deliver innovative and captivating cinema. The independent film market remains competitive, and NEON’s strategy mirrors its rival's efforts to expand its creative and commercial reach.
NEON’s upcoming slate includes an exciting lineup, with The Seed of the Sacred Fig debuting on November 27, Josh Oppenheimer’s The End set for December 6, and Asif Kapadia’s documentary 2073 arriving on December 27. With fresh funding and a vision for growth, NEON is poised to solidify its reputation as a leader in the independent film landscape.