As reported by Variety, the Film Distribution Fund‘s annual budget will be increased from the current €1.2mln to €2mln.
The fund has been set up by the Italian Ministry of Culture in collaboration with Cinecittà spa and ITA Italian Trade Agency, and aims to promote the diffusion of Italian films internationally by granting a contribution of up to €30,000.
The announced budget increase will make it possible to support the Italian audiovisual product in a more capillary manner, through streaming and TV distribution.
Announcing the increased investment during the Hong Kong International Film & TV Market was Roberto Stabile, Head of Special Projects, DGCA-MiC at Cinecittà, who has not yet indicated the new organisation of the fund, which will instead be presented during the 76th edition of the Cannes Film Festival in May 2023.
Further information can be found on the Italian Ministry of Culture website.