Cinecitta, Europe’s largest film studio, is set to revitalize Italy’s cinematic landscape amid global uncertainty sparked by proposed tariffs from U.S. President Donald Trump on foreign productions. The studio, which has a storied history since its establishment in 1937, has approved a five-year plan funded by the EU’s post-COVID Recovery Fund. This initiative includes the development of high-tech sound stages and plans to increase production capacities by 60% by 2026.
CEO Manuela Cacciamani expressed a strong desire to elevate Cinecitta’s status as a leading production hub, emphasizing the need for excellence. The company is ambitiously targeting revenues of €51.9 million ($58.8 million) by 2029—almost double its projected figure for 2024—and aims to turn a profit of €4.3 million after facing a significant loss last year.
At the same time, Trump’s bid to impose a 100% tariff on foreign films, which he argues threatens the U.S. film industry, casts a long shadow on global productions. Though specifics of how the tariff will be implemented remain unclear, it undeniably brings substantial challenges to a system that relies on international partnerships and diverse production locales.
Cacciamani noted that Cinecitta is staying vigilant regarding the tariff situation, hoping for ongoing cooperation between Italy and the U.S., two historic powerhouses in cinema. The studio benefits from a generous tax credit for film productions, making it an attractive site for international successes.
Among the anticipated projects for Cinecitta this year is Mel Gibson’s “The Resurrection of The Christ,” which could be affected by the proposed tariff. The film industry remains tense about these developments, but the hope for continued collaboration and understanding between nations persists.
Overall, while the current landscape poses challenges, there remains optimism that the resilience and creativity of filmmakers can adapt to changing economic climates, reinforcing the enduring spirit of cinema across borders.
Leave a comment