Importance of The Cannes Film Festival

Commonly referred to in shorthand just as "Cannes", the film festival is one of the most famous film industry-related events in the world, viewed as both a center of artistic and/or creative integrity and of deal-making opportunities. The presence of Pinchot's film at Cannes is, in that context, very important to the characters (i.e., holding out the promise of both artistic and deal-defined success), with the fact that it doesn't do particularly well there equally important, albeit for very different reasons (i.e., representing a clear degree of failure in both areas).