The fourth edition of the “The audiovisual system: evolution and economic dimensions” report by eMedia and Istituto Bruno Leoni which maps the size of the market and its economic players has been published.
The report, presented by Emilio Pucci (eMedia), estimates Italy’s audiovisual industry to be worth € 14.9 billion in 2023, up 3.9% on 2022. eMedia places the audiovisual industry within the broader system of communication and entertainment worth € 53 billion, equivalent to 2.5% of GDP.
The growing centrality of audiovisual product is attributable in part to the rapid growth of the Internet. The online and platform environments continue to evolve very rapidly, propelled partly by AI and other forms of immersive product.
The Italian audiovisual system has some unique characteristics: in addition to lower state investment than other large European markets, a low propensity of families spend on cultural products and services, and there is reduced investment in commercial communication by companies.
The report also indicates trends for the coming years. The sector will go through 4 structural evolutions: a likely thinning of the distinction between linear environment/offers and non-linear environment/offers; increase in competition from global platforms in flow/unscripted genres; the transfer of talent, product concepts, styles between Video Sharing Platforms and television; and a tendency for broadcasters to opt for short form.
A debate followed the presentation of the report, discussing the taxation of internet giants, scarcity of resources, innovations in the sector, AI and Europe’s response to regulatory challenges/threats and European legislation to protect pluralism, with guests: Maurizio Gasparri (Senator, Forza Italia), Antonio Marano (President, Confindustria Radio Televisioni), Antonio Nicita (Senator, Partito Democratico), Gina Nieri (Board Member, Mediaset Spa) and Giampaolo Rossi (CEO, RAI).
The closing remarks were entrusted to Federico Mollicone (President, VII Commission on Culture, Science and Education, Chamber of Deputies), who provided - with the help of the DGCA - data on the growth of the audiovisual sector in Italy (+123%) and the overall request for international tax credit, demonstrating the strong attractiveness of Italy for foreign productions.