Italian Film Execs Talk Challenges & Opportunities As Venice Film Festival Kicks Off

deadline.com:

There’s an air of positivity among Italian film professionals as they head to the Venice Film Festival this year, in spite of the country’s depressed theatrical box office in the wake of Covid and a looming cost of living crisis across Europe.The optimistic mood is driven in large part by recent state-backed support for the country’s audiovisual sector, which is increasingly regarded as a pole for future economic growth and employmentUnder the country’s post-pandemic economic recovery plan, put in place by the former unity government of Mario Draghi, $300m has been set aside for investment in the sector for the period running 2021 to 2026.Following the fall of Draghi’s government over the summer, a general election will take place on September 26.

Whatever the outcome, the potential successors are being urged to maintain the recovery plan and cinema spending is not expected to be impacted.The country’s 40% tax credit for production as well as increased investment obligations for the global platforms are also helping to drive a local production boom, which resulted in more than 250 local features being completed over the past year.Against this backdrop, Deadline touched base with a handful of local film execs for their views on the current state of play for the local film industry.Bologna-based distribution company I Wonder Pictures is handling the Italian releases of 10 Venice 2022 selections, including Golden Lion contenders The Whale and Monica, Horizons selection La Syndicaliste, Horizons Extra titles The Origin Of Evil and Amanda and Giornate degli Autori opener March On Rome.What are the biggest challenges facing your company and the distribution sector?Redefining our relationship with the public to build new