The fifth participant in our doc industry survey is Nancy Gerstman, co-founder and partner with Emily Russo in the New York-based distributor Zeitgeist Films Ltd. They have released numerous features, including the Academy Award-winning Nowhere In Africa and the Academy Award-nominated Sophie Scholl: The Final Days and My Country, My Country; as well as numerous documentaries that played at TIFF such as The Corporation, Ballets Russes and Into Great Silence (pictured).  Their new releases include last year's TIFF doc Manufactured Landscapes and the 2007 Camera d'Or winner Jellyfish.

Q: What changes do you see in the documentary marketplace?

GERSTMAN: For a few years the 'glass ceiling' of under $1 million b.o. for docs (exception Michael Moore) was being shattered fairly regularly.   Now we're seeing many more political/social issue docs being made and they keep getting better and better but the theatrical market is shrinking (again).

We were surprised when INTO GREAT SILENCE which is almost entirely wordless and not concerned with politics (or even the world most of us live in) was the second highest grossing doc of 2007.    This good performance tells us that our niche audiences are open to something different and overwhelming. But the fact that so few terrific political docs did well at the box office this year says that for the most part those audiences are satisfied to see their documentaries at film festivals and on tv.

But I live in hope.   As others have said film is a cyclical business and that implies eventual change.

Q: What advice can you give doc makers on navigating distribution?

GERSTMAN: Be realistic and look at the big picture--aside from those 'golden ages' in the film cycle (see above) relatively few docs attain a box office of over a million dollars.     That said, theatrical is still important and there are exciting new and potential opportunities in the ancillary markets.   Find a distributor with a excellent reputation for hard work, understanding niche markets and grass-roots promotion.   They should have time to give your film the handling it deserves.  (And don't forget prompt and honest accounting!) Ask your colleagues.

Q: What do you hope to get out of Real to Reel this year?

GERSTMAN: I expect to be overwhelmed by the documentary work that's being done and I expect to be discriminating as always in our acquisitions. I hope to find a few films (like INTO GREAT SILENCE and MANUFACTURED LANDSCAPES last year) which are brilliant and can do well in all markets.

Tune in next Monday morning for the next industry response from sales agent Josh Braun of Submarine Entertainment.