The first in an annual series, the Film Festival Yearbook features articles related to the global proliferation of film festivals. This issue is focused on the dynamics of the film festival circuit, including the roles of individual festivals as nodes on this complex network and the cultural policies that shape its channels of film exhibition and distribution. This inaugural volume includes essays by Dina Iordanova, Ragan Rhyne, Janet Harbord, Charles-Clemens R?ling, Rahul Hamid, Kay Armatage, Ruby Cheung, Ma Ran, David Slocum, Mark Cousins, Nick Roddick, Dimitris Kerkinos, Marijke de Valck & Skadi Loist, and William Brown.