The world premiere of "I Play Rocky" was a highlight of TIFF's Special Presentations program at the Princess of Wales Theatre. The film quickly distinguished itself as an early frontrunner for the festival's highest honor, the People's Choice Award, a prize that often serves as a bellwether for Oscar success. The screening was punctuated by applause as it meticulously recreated key moments from the original "Rocky," a film that became the highest-grossing movie of its year, garnered 10 Oscar nominations, and ultimately won three, including Best Picture.

A post-screening Q&A featured Farrelly, Ippolito, Stephan James, Jay Duplass, and screenwriter Peter Gamble.

There's a poetic symmetry in a film about an unknown talent betting on himself premiering at TIFF, a festival renowned for catapulting modest crowd-pleasers into Best Picture winners. Farrelly himself is no stranger to this path; his 2018 film, "Green Book," won the TIFF People's Choice Award before going on to claim the Best Picture Oscar. Now, Farrelly returns to Toronto with "I Play Rocky," a narrative charting how a broke and stubborn Sylvester Stallone convinced Hollywood to let him write and star in the film that would change his life.

The movie chronicles one of Hollywood's most improbable success stories: a struggling actor with a script that no one wanted, coupled with one non-negotiable demand – that he play the lead role himself. As studios offered substantial sums on the condition that an established star would take on the punches, Stallone steadfastly refused, transforming the negotiations into a prizefight of its own.

Farrelly shared with the Princess of Wales audience that the film's genesis came down to a remarkable script and an unforgettable self-tape. "I read this script and I thought it was the greatest script I’d ever read," he said of Peter Gamble's screenplay. The search for his Stallone, he recounted, ended almost immediately when his casting agent called, claiming to have found the lead. It was Anthony Ippolito, then an unknown, who had obtained the script and filmed three scenes in his grandmother's basement. "I looked at it and the search was over," Farrelly stated. "That’s the guy. We didn’t have to go any further."

Ippolito's casting feels almost destined. The 27-year-old Long Island native, who has been working since childhood, first gained recognition as George Wright in the 2020 Netflix drama series "Grand Army." He then portrayed a young Al Pacino in the Paramount+ limited series "The Offer," which chronicled the making of "The Godfather." This makes "I Play Rocky" the second time Ippolito has embodied a young Italian American icon at the dawn of a Best Picture-winning film – a coincidence too striking to ignore. His performance is being hailed as a major breakout, transforming a working actor into an overnight sensation, and powerfully anchoring one of Hollywood's most genuine underdog narratives.

For Ippolito, stepping into the role demanded a physical and emotional transformation spanning nearly two years. "It took a lot of effort, upwards of a year and a half to two years," the actor told the crowd, expressing gratitude to Farrelly and the team for their trust. "I’m just so grateful that they were willing to take a chance on me in this situation." Taking in the momentous occasion, he added, "This is absolutely surreal."

The film captures the same magic and fervor as the 1976 original and is being lauded as Peter Farrelly’s finest directorial achievement. It's a triumph that resonates as both a strong People's Choice contender and a legitimate Oscar threat, particularly appealing to Academy voters. The supporting cast also shines, with AnnaSophia Robb delivering a quietly devastating performance as Sasha Czack, Stallone's first wife and earliest supporter. Matt Dillon portrays Frank Stallone Sr., while Stephan James steps into the role of Carl Weathers, who would become Apollo Creed. Kiki Seto plays Talia Shire, opposite Robert Morgan's Burgess Meredith and Scot Teller's Burt Young. Jay Duplass rounds out the ensemble as "Rocky" director John G. Avildsen, with P.J. Byrne and Toby Kebbell as producers Irwin Winkler and Robert Chartoff, respectively. Byrne's portrayal of Winkler is particularly noted as sublime, further cementing his reputation as a formidable character actor.

"I Play Rocky" premiered on September 12 at the Toronto International Film Festival. Amazon MGM Studios plans a limited release on November 6, expanding nationwide on November 20.