Italian Audiovisual Sector Doubles in Value

The audiovisual sector in Italy has nearly doubled in value since 2017, surpassing €2 billion, according to the APA.

The findings were presented by the Association of Audiovisual Producers (APA) during the launch of the sixth audiovisual report, a key event of the 2024 MIA Market.

Production volumes for the three main distribution channels have grown compared to 2022: productions for movies increased by 21 percent, VOD platforms by 16 percent and TV by 8 percent.

With revenues exceeding €12 billion in 2023, the industry saw a 20 percent uptick compared to the previous year. Television remains the leading audiovisual medium, with €8.2 billion in revenue (71 percent of the total market), while online platforms (AVOD and pay VOD) reached €2.8 billion (24 percent of the total market). The remaining share comes from cinema, which is experiencing a strong recovery after the pandemic years.

The report highlights a strong expansion in productions aimed at younger audiences, with a 70 percent increase in hours of kids and early teens scripted content in 2023. For kids’ TV, Warner Bros. Discovery remains the most diversified broadcaster, with 42 percent of titles across its kids channels, while Rai is still the top broadcaster in terms of airing original productions.

As for the most-produced genres in Italy, serials remain the dominant format, followed by teen and crime genres. New genres that are gaining interest among producers and audiences include period pieces, biopics and romance. Netflix and Paramount+ are the fastest-growing OTT platforms in terms of titles and hours of produced content.

“In 2024, the Italian audiovisual market has entered a new phase of development,” said Chiara Sbarigia, president of APA. “The growth in content demand and tax credits have been key drivers of the sector’s strengthening in recent years, which is now undergoing significant change and evolution. Greater attention to product quality and the production of content that resonates beyond national borders is essential to enhance the rich history of the Italian audiovisual market and to increase the competitiveness of our industry.”