The Sundance Film Festival kicks off tonight amid a bit of worry. Independent film certainly isn't immune to the economic downturn, and 2008 saw the closure of many indiewood distributors, including Warner Independent and Picturehouse. Sundance has become infamous for introducing the year's breakout hits, but last's years festival failed to produce any standouts. Hamlet 2, a comedy starring Steve Coogan, was bought for $10 million but performed poorly in theaters.

Sundance founder Robert Redford, however, is not overly worried. In an interview with Hollywood Reporter, he says: "You don't really know 'til it's over, so I like that. I don't know how the economy is going to affect us; my guess is it will. But it's not going to affect the films we show."

Celebrating its 25th anniversary, the festival opens with the premiere of  the animated Australian film Mary and Max, featuring the voices of Philip Seymour Hoffman, Toni Collette and Eric Bana. A first sale, too, has already been reported. Sony Pictures Classics  bought the rights to Carlos Cuaron’s Rudo Y Cursi, starring Gael Garcia Bernal and Diego Luna, back together for the first time since Alfonso Cuaron’s Y Tu Mama Tambien (2001).

As always, celebrities will be in attendance. Jim Carrey stars as a gay man I Love You Philip Morris. Bobcat Goldthwait directs Robin Williams in World's Greatest Dad. Mickey Rourke, hot off his success in The Wrestler, stars in The Informant (pictured), a slick and sexy adaption of Brett Easton Ellis' collection of stories, along with Amber Heard, Kim Basinger, Winona Ryder, and Brad Renfro in his last role.

Coverage of the not-yet-in-progress fest is already reaching fever pitch. Over at The Daily, David Hudson is providing comprehensive updates.  Also check out the official Sundance website, for filmmaker interviews, streaming videos, and more.

The Academy has released their short list for Best Foreign-Language Film. The two top contenders are Lauren Cantet's urban high school drama The Class, which received the Palme D'or at Cannes, and Ari Folman's animated anti-war autobiography Waltz With Bashir, which just won a Golden Globe this past weekend.

Nine films were chosen from a field of 65 eligible titles. The remaining films are Austria's Revanche, Canada's The Necessities of Life, Germany's The Baader Meinhof Complex (pictured: Moritz Bleibtreu and Martina Gedeck), Japan's Departures, Mexico's Tear This Heart Out, Sweden's Everlasting Moments, and from Turkey, 3 Monkeys. The final five nominated films will be announced on January 22.