Festival Strategy: Tier 1 vs. Multiple Mid-Tiers - Seeking Advice

Hey everyone, Grace Nakamura here, casting director on a film that's just about ready to hit the circuit. We're wrestling with our premiere strategy and would love to hear some diverse opinions.

Our team has been debating the 'tiered premiere' approach pretty intensely. We have a compelling drama, and the director is really keen on landing a big Tier 1 festival premiere, think Sundance, Toronto, Berlin. It's a dream, of course, and the prestige could be huge for our indie project, potentially opening doors for distribution and future financing.

However, we're also aware of the incredibly competitive nature of those top-tier festivals and the risk of waiting too long. I've seen some great films lose steam, or worse, get overlooked after investing a lot of time and resources into chasing that one big shot. On the flip side, we've had some very positive feedback from programmers at a few respected regional and genre-specific mid-tier festivals that seem genuinely interested in championing our film.

So, my question is this: From your experience, when does holding out for that elusive Tier 1 festival premiere actually become counterproductive compared to building buzz and a track record through multiple, supportive mid-tier festivals?