As a seasoned gamer with countless hours spent immersed in virtual worlds, I can’t help but see parallels between our shared passion for storytelling. The Italian Minister of Culture, Gennaro Sangiuliano, seems to be a fellow enthusiast, albeit one who navigates the realm of cinema rather than pixels and levels.
Italy’s Minister of Culture claims that he has been “passionate” about cinema his whole life.
Previously with Rai, Gennaro Sangiuliano – now serving as Italy’s Culture Minister under right-wing Prime Minister Giorgia Meloni since 2022 – has expressed intentions to continue pouring substantial resources into funding for the Venice Film Festival. Moreover, he aims to foster Italy’s appeal to foreign film producers through an attractive incentive system of tax credits.
In a conversation with The Hollywood Reporter, Sangiuliano expressed contentment over Italy’s annual investment of approximately $800 million into a scheme offering tax credits and selective grants for TV and movie producers. However, after discovering that certain Italian producers had misused the system last year, Sangiuliano enacted measures to strengthen the regulations. Nevertheless, the fund remains substantial, allowing producers to receive up to 40% of the budget for numerous films produced within Italian territory.
According to a report by Scott Roxborough and Giammaria Tammaro in THR on August 27, the new Italian government regulations set a limit of €18 million ($19.7 million) for tax credit payouts on international co-productions where at least 30% of the production takes place in Italy. For local productions, the cap is €9 million ($10 million). Despite this, the total fund for film and audiovisual investments in 2024 will remain approximately €700 million ($782 million).
In addition, the Minister of Culture contributes over half of the Venice Film Festival’s yearly expenses, allocating approximately 15 million dollars annually for its operations.
Sangiuliano refers to cinema as “the art form that resonates most deeply with people, the one that truly stirs emotions, particularly among the younger demographic.” He boasts that this year’s Venice Film Festival remains a glamorous, global spectacle featuring an impressive roster of stars. “A simple glance at the list of attendees reveals the significance and relevance of this event,” he remarks.
“In our role as a government, we’re putting in considerable effort to foster the growth of the movie industry. We’ve been streamlining and ethicalizing the methods we use to distribute resources for cinema, like tax credits and selective grants. We believe that our efforts have been productive. Cinema is a profound dream, and each of us experiences life anew through the films we’ve enjoyed throughout the years,” the minister remarked when questioned about his dedication towards tax breaks and incentives in filmmaking.
The Italian minister likely wished to acknowledge Paolo Sorrentino, Luca Guadagnino, and Matteo Garrone, but chose not to do so directly. Instead, he emphasized that Italy takes great pride in the exceptional talent within its film industry and is committed to nurturing this field. He noted that today’s Italian directors are creating remarkable works that have garnered international recognition.
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2024-08-29 00:24