THE ITALIAN WAY: THE FUTURE OF THE FILM INDUSTRY
Thursday 09 July 2020
The second Italian Way event, organised by UniCredit in collaboration with ANICA, looked at how companies in the cinema industry can prosper and restart
Covid-19 and the consequent lockdown have had a terrible domino effect on the whole cinema and audiovisual supply chain. This industry is worth €4 billion a year and has 2,000 active companies that employ more than 250,000 people. Due to the pandemic, it could lose 30-40% of its turnover in 2020.
The second Italian Way event, held on 17 June in Rome, discussed these challenges and how companies in the sector can survive and thrive in a post-Covid world. The event was organised in collaboration with ANICA, an association that represents the Italian film and audiovisual industry.
Joining the discussion on how to restart the sector were Francesco Rutelli, President at ANICA, Andrea Casini, Co-CEO Commercial Banking Italy at UniCredit, Francesca Cima, ANICA Producers Department President, Giuseppe Zonno, Deputy Director RAI Cinema, Benedetto Habib, Partner Indiana Production, Lucio Izzi, Head of Corporate Sales & Marketing at UniCredit, Giampaolo Letta, Vice President and Managing Director at Medusa Film, Luigi Lonigro, ANICA Distributors Department President; Alessandro Usai, Managing Director at Colorado Film and Salvatore Pisconti, Regional Manager Centro at UniCredit. Guest star was film director Giuseppe Tornatore, who won an Oscar for Cinema Paradiso.
The film industry is very important to Italy
Smaller companies are most vulnerable
The lockdown has had a domino effect on the whole cinema supply chain
Cinema's loss is a win for streaming platforms
Cinemas are at most risk, but distributors and producers can survive
The pillars to restart: innovation and finance
Andrea Casini, CO-CEO, UniCredit Commercial Banking Italy
“The cinema sector is extremely important in Italy, but it is also amongst those most-affected by the health emergency and the lockdown. So it is vital that we ask ourselves new questions and take new routes: innovation is the key tool to make things change. Companies also need to strengthen their financial structure, trying to rapidly build the financial buffer needed to restart: a crucial liquidity injection that UniCredit is offering companies in the sector.”
Giuseppe Tornatore, Oscar-winning film director
“I’m worried that the health protocols and the cost containments will mean the film industry could lose its freedom of language”
Francesco Rutelli, President, ANICA
“UniCredit’s support in relaunching the supply chain’s ‘value chain’ is extremely important”
Giuseppe Zonno, Vicedirettore di RAI Cinema
“Strengthening tax credits would be desirable”
Alessandro Usai, Managing Director at Colorado Film
“I claim the need for producers to continue controlling platform strategies. During the lockdown, film distribution was guaranteed thanks to them”
Giampaolo Letta, Vice President and Managing Director, Medusa Film
“I’d like to underline the importance of foreign exports and investments for the cinema sector. I hope bureaucracy will be thinned down"