SIAE, The Italian Society of Authors and Publishers, has published the Annuario dello Spettacolo 2018. Cinema admissions and box office revenues were respectively almost 8 million and € 40 million fewer than in 2017.
Yesterday, July 10th, 2019, SIAE President Giulio Rapetti Mogol, Vice President Salvatore Nastasi and Director General Gaetano Blandini attended the presentation of the Annuario dello Spettacolo 2018, SIAE annual report providing an overview of the economic trends for cinema, theater, concerts, stadium, and other entertainment and sport events in Italy.
The film industry has faced a decrease for the second year in a row. In 2018, admissions were 7.9 million fewer than in the previous year. Economic indicators have also decreased: the industry has seen a 6.44% drop in box office revenues and a 6.89% drop in audience spending.
As a result, this year, for the first time in Italy, the film industry has joined forces to promote cinema as a form of cultural entertainment throughout the whole year. Distribution companies will ensure the programming of films from January to December, without interruption, with cinemas open all year round. The launch will begin in the summer of 2019, with the scheduled release of 60 films, including some American blockbusters.
MiBAC Undersecretary Lucia Borgonzoni has commented: “We thank SIAE for the data on cinema industry presented today. The data reveal a difficult situation of which we were aware and in response to which we have put in place, as a government, a series of interventions and initiatives to support the industry.”
“Box office revenues in May-June 2019 were € 52.7 million, compared to € 38.9 million in the same period of 2018. This positive trend becomes clear looking at the data for July, shortly after the launch of Moviement in mid-June, the initiative supported by MiBAC which promotes cinema attendance during the whole year and which is already having a positive return in economic and cultural terms. Data for July 2019 show a 75.28% increase in revenues compared to 2018 and a 65.15% increase in admissions. The positive trend will certainly be confirmed throughout the whole month of July. Interventions and initiatives put in place are going in the right direction”, added Lucia Borgonzoni.