Data from the UniCredit study on the effects of the health emergency on the film industry were presented during the second stage of The Italian Way, the new webinar on Cinema and Audiovisual organized by Unicredit in partnership with ANICA.
The meeting aims to investigate new reflections by stakeholders and experts on the post-Covid economic scenario and tries to plan new restart strategies.
It was attended by: Francesco Rutelli (President of ANICA), Andrea Casini (Co-Ceo Commercial Banking Italy of UniCredit), Francesca Cima (President of ANICA Producers Section), Giuseppe Zonno (Vice Director of RAI Cinema), Benedetto Habib (Partner of Indiana Production ), Lucio Izzi (Head of Corporate Sales & Marketing UniCredit), Giampaolo Letta (Vice President and CEO of Medusa Film), Luigi Lonigro (President of ANICA Distributors Section), director Giuseppe Tornatore, Alessandro Usai (CEO of Colorado Film) and Salvatore Pisconti (Regional Manager Center of UniCredit).
The study data revealed the changes that affected the first half of 2020, relating in particular to: film productions, theaters’ closure due to lock-down and the reduction in broadcasters revenues. If the box office suffered a drastic decrease due to the closing of the theaters (-40% of turnover) and the production of contents was inevitably slowed with the consequent decrease in investments, the Covid-19 impact was not homogeneous on all segments of the supply chain.
The distributors have enhanced their digital library on new streaming platforms, moving many contents online (Lucky Red’s case); also productions have used new technologies, such as augmented, virtual, interactive reality, which cut related times and costs. About exhibitors, the possibility of developing new “costumer oriented” strategies was assessed, including the implementation of investments for technological redevelopment and innovation of the cinemas.