120 million euros for the entire Italian film and audiovisual industry. Franceschini: It needs to restart

20 million for movie theaters and 100 million for Tax Credit: MiBACT Minister Dario Franceschini signed two decrees worth a total of 120 million euros to support the entire Italian film and audiovisual industry. The measures enhance the Cinema Fund and strengthen public support for cinemas.

The first decree, worth 100 million euros, strengthens the Cinema and Audiovisual Fund provided by the 2016 Cinema Law to finance investments by film and audiovisual companies, from production to distribution.

The second decree, worth €20 million, strengthens measures to support cinemas planned for 2020. Specifically, a non-repayable grant of 10,000 euros is awarded to each film theater that applies, to which will be added an additional grant calculated in proportion to lost receipts. These 20 million euros will soon be joined by another 20 million euros as soon as the amendment to the Relaunch DL, on which MiBACT has already given a favorable opinion, is approved in Parliament, which provides for the allocation of resources for 2020 from the Extraordinary Cinema Plan to the Cinema Fund.

“The effects of the health emergency have had significant repercussions on all sectors of culture, starting with the film industry where the prolonged closure of cinemas and the interruption of productions and sets is still having profound effects. The entire industry needs a fresh start and new investment. These two decrees, which follow the various measures already put in place by the government to protect workers and businesses, are an important intervention to help recovery,” the minister said.

120 million euros for the entire Italian film and audiovisual industry. Franceschini: It needs to restart

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