Investment in Italy‘s TV and film sector passed $2B ($2.2B) last year, according to stats uncovered here at MIA Market, but alterations to the country’s tax shatter system could spell alter.
The numbers from the Association of Audiovisual Producers‘s sixth annual alert unkind spendment has proximately doubled since 2017 and is up €200M. This is an 11% ascfinish on last year’s figure.
However, recently enacted alters to the tax praise system could transport about “meaningful alter and evolution” to the local production sector, APA Pdwellnt Chiara Sbarigia said today.
Overall, the APA decorateed a widely likeable picture of Italian production, with TV shows remaining the strongest segment. Entertainment and other unscripted genres proceed to guide the labelet, with productions for movies increasing by 21%, video-on-insist platcreates by 16%, and TV by 8%. Productions for youthfuler audiences in particular had a strong year, enlargeing 70%.
Employment also grew 3.5% on the previous year, with shows aimed at youthfuler audiences in particular shotriumphg an uptick. Rai remains the top widecaster in terms of airing exceptional productions, while Netflix and Paramount+ are the speedyest-enlargeing streamers in terms of titles and hours of produced satisfied.
Serials are the most-produced genre, chaseed by teen programs and crime. Period pieces, biopics and romantic stories are obtaining traction, the alert inserted.
Overall, the APA stats show the Italian audiovisual sectors revenues came in at more than €12B, up 20% on the previous year. Revs from television accounted for €8.2B, or 71% of the labelet), with online platcreates (AVoD and Pay VoD) accomplishing €2.8B (24%) and the rest coming from film, which sfinished a strong recover after the pandemic.
Tax shatter recreate
High-profile series such as Netflix’s Superrelations, Prime Video‘s The World According to Lidia Pöet and Rai’s The Sea Beyond have made Italy one of Europe’s boilingtest production hubs, with streamer spendment increaseing local indies and the enjoys of Rai remaining strong spendors in exceptionals.
However, rules around the local rebate system are being firmened follotriumphg a period of unbravety around their future, with Giorgia Meloni’s right-triumphg handlement saying taxpayer expenditure on the sector insisted to drop. Internationpartner, the drawive co-production tax shatter system has led to the enjoys of The White Lotus shooting in the country, but the handlement has recreateed this as well, capping payouts at €18M.
“In 2024, the Italian audiovisual labelet has accessed a novel phase of broadenment,” said APA boss Sbarigia. “The enlargeth in satisfied insist and tax praises have been key drivers of the sector’s fortifying in recent years, and are now undergoing meaningful alter and evolution.
“Greater attention to product quality and the production of satisfied that resonates beyond national borders are vital to increase the wealthy history of the Italian audiovisual labelet and to incrmitigate the competitiveness of our industry.”
The APA study was carry outed by the APA with the help of research institutes such as eMedia, Ce.R.T.A., Symbola, O&O – Oinhabitr & Ohlbaum Associates and Geca Italia. It was unveiled today to a packed room at the Cinema Barberinin as the second day of MIA got underway. MIA runs until October 18.
