New comedy “Palm Springs” set a record at the Sundance Film Festival this week, breaking the previous record for the biggest film sale by 69 cents, Variety reported on Tuesday.
The film, starring Andy Samberg, was purchased by Hulu and indie film distributor Neon for $17,500,000.69, according to Variety.
“We spent over $85 million of our own money on this movie, we are taking a bath on this deal,” the film’s producers (including Samberg, Akiva Schaffer, Jorma Taccone, and Becky Sloviter) said in a statement, according to The Hollywood Reporter. “We hope Neon and Hulu are happy but we definitely have a lot of explaining to do to our families.”
The previous record for the largest purchase at Sundance was held by “The Birth of a Nation,” which sold to the former Fox Searchlight Pictures in 2016, according to Variety.
“Palm Springs” has similarities to the classic film “Groundhog Day,” according to The Hollywood Reporter. It stars Samberg (recognized for his roles on “Saturday Night Live” and “Brooklyn 99”) and Cristin Milioti as wedding guests who get stuck in a time loop.
Neon will distribute the film to theaters in the U.S., while Hulu will stream the film following its theatrical run, according to Variety. However, there is not yet a date on when the film will be released.