The value of Italian audiovisual productions crossed EUR2 billion for the first time in 2023, according to figures from the APA, Italy’s producers association.
Production for TV, film and online platforms, including both scripted and unscripted, hit EUR2.04 billion, up from EUR1.8 billion in 2022 and nearly double the EUR1.06 billion recorded in 2017.
Film production was the fastest growth area in 2023, with production revenues rising 21% compared to 8% for TV and 16% for video-on-demand.
The number of films produced in Italy – both national and international titles – reached a record 354 in 2023, up from 314 in 2022.
Figures for 2024 are likely to be lower, with film production in Italy slowing down due to government reforms of the Italy’s tax credit.
Total employment in the audiovisual sector grew 3.5% in 2023. The Italian audiovisual sector had revenues of over EUR12 billion. TV accounted for EUR8.2billion or 71%, while cinema exhibition generated EUR510 million. Titles such as There’s Still Tomorrow performed strongly at the box office. Cinema exhibition generated EUR510 million with titles such as
There’s Still Tomorrow
performing strongly at the box office, while online platforms – AvoD and SvoD – reached EUR2.8 billion.
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Chiara Sbarigia, president of the APA said: “The growth in content demand and tax credits have been key drivers of the sector’s strengthening in recent years, which is now undergoing significant change and evolution.”
The APA report was presented at Rome’s MIA film and TV market, which is taking place from October 14-18.
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