Film-festival season is here, which means prestige flicks aren't far behind

The Weinstein Company / Exclusive Media Group / Columbia Pictures

Call it awards-season equinox. Every year as August comes to an end, leaving theaters lacking in smart fare even more than usual, a flurry of high-profile international film festivals offers a tantalizing hint of what's to come.

These showcases happen in quick succession, and in many cases even overlap: The upcoming installment of the Venice Film Festival runs August 31 through September 10; the more condensed Telluride event takes place over Labor Day weekend; then, September 8–18, comes the marathon Toronto gala; and Lincoln Center's New York Film Festival follows a few weeks later (September 30–October 16).

For proof that festivals are of consequence to the Oscar race, look no further than last year's roster of Best Picture nominees. Four of the 10 nominees (eventual winner The King's Speech, 127 Hours, Black Swan, and The Social Network) built buzz at one or more of the aforementioned festivals, while two (The Kids Are All Right, Winter's Bone) did the same at Sundance, a winter equivalent. Looking a few additional years back, each of the last four Best Picture winners has played at Toronto.