Lights, Camera, Action: Italy's Audiovisual Sector Shines Bright

The Italian audiovisual industry has experienced a remarkable resurgence in recent years, doubling in both value and employment since 2017. This surge has been driven by significant increases in cinema, television, and video-on-demand (VoD) productions, as well as a growing focus on quality and international reach.

Powering the Italian Audiovisual Renaissance

Soaring Revenues and Diversified Growth

The Italian audiovisual sector has witnessed a remarkable financial turnaround, with the industry's value exceeding €2 billion in 2023, a 20% increase from the previous year. This growth has been fueled by a surge in cinema, TV, and VoD productions, as well as a flourishing distribution media landscape. The television sector contributed €8.2 billion, while VoD services accounted for €2.8 billion, demonstrating consistent growth and representing 24% of the market.The distribution media revenues have also experienced a remarkable surge, reaching €11.6 billion in 2023. This growth is a testament to the industry's ability to adapt and capitalize on the changing consumer landscape, as viewers increasingly embrace digital platforms and on-demand content.

Fostering Quality and Global Reach

Chiara Sbarigia, President of the Association of Audiovisual Producers (APA), highlighted the sector's shift towards a focus on quality and international reach. This strategic shift has been driven by increased investment from broadcasters and platforms, which has helped to boost revenues from distribution media.While government tax credits have been essential in supporting the industry, the report suggests that Italy could further incentivize production by aligning its policies with other European countries. The analysis indicates that Italy supports fewer titles and offers lower grants per project compared to nations like France, Spain, the UK, and Germany.

Evolving Content Landscape

The Italian audiovisual sector has witnessed a significant shift in content trends, with entertainment programming on networks on the rise, particularly on public broadcaster Rai. Scripted content is increasing across both TV and VoD platforms, and kids' content has experienced a remarkable growth of 70%.However, the report also highlights a decline in the documentary genre. This shift in content preferences reflects the changing demands of the audience and the industry's ability to adapt to these evolving trends.

Emerging Genres and Platform Dominance

The Italian production landscape has seen the emergence of new genres, such as Period, Biopic, and Romance, which are attracting growing interest from both producers and audiences. This diversification of content offerings is a testament to the industry's ability to cater to the diverse tastes of the Italian audience.In the Kids TV segment, Warner Bros Discovery has emerged as the broadcaster with the most diverse offerings, accounting for 42% of titles on Kids channels. Rai, however, remains the leading broadcaster of original productions, solidifying its position as a key player in the Italian audiovisual market.The rise of streaming platforms has also had a significant impact on the Italian audiovisual sector. Netflix and Paramount+ have witnessed significant growth in terms of titles and content hours produced, solidifying their position as leading SVoD platforms in the Italian market.