Fremantle and Italy’s Cinecittà Studios Enter Strategic Pact
variety.comNick Vivarelli International CorrespondentFremantle and Italy’s Cinecittà have entered a five-year pact involving the continuous rental of six sound stages at the iconic studios, which are currently undergoing a major revamp.The deal “confirms Fremantle’s strategic decision to make some of its top international productions in Italy: a decision that finds the perfect and natural partner in Cinecittà,” Fremantle said in a statement.A radical revamp of Cinecittà, which has been underway since May 2021, has been gaining traction with a rise in occupancy of its sound stages and backlot, realistic prospects for profitability, and new state-of-the-art filming facilities.The Cinecittà revamp is being conceived and carried forth by Nicola Maccanico, a former Warner Bros.
and Sky Italia senior exec who has a mandate from Italy’s culture minister Dario Franceschini to turn the Rome studios into continental Europe’s top filming facilities thanks to a €300 million ($339) million) investment from the European Union’s post-pandemic recovery fund.
Maccanico has since been busy overhauling several of the existing 19 sound stages and getting five new stages built, while also devising a five-year financial plan under which he expects Cinecittà to start turning a profit in 2023.
In addition to studio rental, the agreement with Fremantle includes the long-term use of Cinecittà’s services such as costume and prop facilities, digital post-production and 35mm and 16mm-development facilities.
Read more on variety.com