Industry

Audiovisual Sector in Italy Doubles in Value Since 2017, Surpassing 2 Billion Euros

Audiovisual Sector in Italy Doubles in Value Since 2017, Surpassing 2 Billion Euros
The Italian audiovisual sector continues its upward trajectory, with a significant milestone reached in 2023: the value of audiovisual production has doubled since 2017, now exceeding 2 billion euros. The data was unveiled today at the Mercato Internazionale Audiovisivo (MIA) in Rome, during the presentation of the 6th Report on National Audiovisual Production by APA (Association of Audiovisual Producers).

Key highlights from the report reveal that television remains the powerhouse of the industry, contributing 71% of audiovisual revenues, while employment in the sector has risen by 3.5% compared to last year. The demand for productions aimed at younger audiences has surged, particularly in Kids & Early Teens Fiction, which saw a 70% increase in content hours in 2023.

The value of the Italian audiovisual market surpassed 12 billion euros in 2023, reflecting a 20% increase over the previous year. Television dominates the industry, generating 8.2 billion euros, while online platforms (both AVoD and Pay VoD) contributed 2.8 billion euros, accounting for 24% of the market. The remaining portion comes from cinema, which is witnessing a solid rebound after the challenging pandemic years. Employment in the audiovisual sector also saw a positive trend, with a 3.5% growth in 2023, showcasing the resilience and dynamism of the industry as it continues to evolve.

Television remains the primary channel for audiovisual production, bolstered by a growing demand for entertainment and unscripted genres. Production for TV increased by 8% over the past year, while productions for movies grew by 21%, and content for Video on Demand platforms surged by 16%. Streaming platforms like Netflix and Paramount+ have been instrumental in expanding content production, particularly in serials and genres such as Teen and Crime. 
Chiara Sbarigia, President of APA, emphasized that in 2024 the Italian audiovisual market has entered a new phase of development. She credited the growing demand for high-quality content and the boost from tax credits for playing a critical role in the sector's growth, and stressed the need for producing content that resonates internationally while celebrating Italy’s rich cinematic history and creativity.

One of the most remarkable trends highlighted in the report is the surge in productions for younger audiences. The number of hours dedicated to Kids & Early Teens Fiction content rose by 70% in 2023. Warner Bros. Discovery leads the way in Kids TV, with 42% of the titles airing on its channels, while Rai continues to excel in original productions for children. Serials remain the most dominant format in Italian audiovisual production, followed closely by Teen and Crime genres. However, new genres are gaining traction among both producers and viewers, with increasing interest in Period pieces, Biopics, and Romance. This shift reflects the broader diversification of content offerings aimed at capturing a wider range of audience preferences.

The presentation featured insights from prominent industry figures, including Maria Pia Ammirati (Director of Rai Fiction), Eleonora Andreatta (Vice President of Italian Content at Netflix), Alessandro Araimo (Executive Vice President of Warner Bros. Discovery Italy & Iberia), and Daniele Cesarano (Director of Fiction at Mediaset). Their discussions focused on the growth and challenges facing the Italian audiovisual industry, emphasizing the importance of international collaboration and adapting to new consumer demands.

The report is written in collaboration with research institutions such as eMedia, Ce.R.T.A., Symbola, and Geca Italia.
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