With The Shape of Water‘s historic win of becoming the first film to win both the Venice Film Festival’s top honor, the Golden Lion, and Best Picture at the Oscars, it seems this can be a good opportunity for the general public to know more about international film festivals. Variety recently published a great article comparing the big international festivals: Venice, Cannes, Berlin, Oscars (not a festival, just an awards show), Sundance, Telluride, and Toronto.
In short, Variety says that Venice seems to be the rising star over Cannes in premiering strong American films, though Telluride can also share that title. Both (late August to early September) are preferable to directors than Cannes (May) if they want to sustain interest for the Oscars (late February / early March). Yet Venice wins in terms of prestige.