APE-Associazione Produttori Esecutivi Italiani and Intesa Sanpaolo have signed an agreement to support foreign executive productions in the country, a concrete commitment for the entire audiovisual sector and for APE member companies the specialized support of its Media & Culture Desk for ordinary and extraordinary finance operations-such as financing, tax credit demobilization, VAT credit advance-as well as specific solutions for foreign and Italian executive productions.
“Thanks to the International Tax Credit and the agreement just signed with Intesa Sanpaolo, the sector is continuing on the path of moving from “location” productions to those that are “based” in Italy, explains Marco Valerio Pugini, APE President. That means an exponential growth of our industry sector, which has tripled revenues in the last three years, with important spillovers to our country.” Such as tourism promotion. National and international productions have solicited new investments for the enhancement of locations, creating jobs and fostering investment in the redevelopment of facilities and studios-first and foremost Cinecittà, which, thanks in part to PNRR funds, is once again attracting the best international film projects.
Italy is among the most convenient destinations in the world from a tax point of view where to make films, TV series and in general quality audiovisual productions. According to an analysis by APE in the last five years 395 foreign productions have benefited from Italian tax credit measures, the credit granted amounted to a total value of 380 million euros and the investments amounted to a total value of 950 million euros.
In this context, Intesa Sanpaolo’s support to date has translated into about 3.0 billion euros of disbursements to the sector, which was recently joined by the availability of an additional 5 billion euros until 2026 to finance audiovisual productions in the wake of the total 410 billion euros planned by the banking group to support the realization of PNRR objectives, including Culture 4.0.
Intesa Sanpaolo since 2009 has positioned itself as a reference bank for the audiovisual sector for national and international operators, able to offer a consultancy service on the various financial aspects, both in the project structuring phase and in the implementation phase.
