Unicredit launches the "One4Cinema" initiative, in support audiovisual chain. The new solutions presented by the Bank led by Orcel envisage "support for investments by companies in the sector, with dedicated loans and specific credit lines, in order to support new production in Italy and stimulate technological innovation and the opening or restructuring of cinemas in the country”, reads a note.
This latest initiative, Unicredit, is added to the others 200 million euros in funding (medium-long term, short-term lines, etc.) net of the Tax Credit, for the last two years. In addition, the banking group has helped businesses activate new ones funding channels, accompanying them in operations on the capital market, such as supply chain Basket Bonds (Baket Bond Cultura di Iervolino and Lady Bacardi Entertainment SpA, Lucky Red, Leone Film Group, Minerva Pictures Group) and promoting initiatives aimed at training the profiles most in demand by the market audiovisual, also encouraging paths of financial education (partnership with ANICA Academy).
Annalisa Areni, head of Unicredit Client Strategies underlined the Bank's commitment "to help companies in the supply chain to face a market that is being redefined".
Italian cinema: a turnover of almost 4 billion euros
The initiative was presented today, Wednesday 7 September, at the Hotel Excelsior in Venice as part of the 79* Venice International Film Festival, where it emerged that the movies is an excellence of Made in Italy. In fact, the approximately 3 companies in the Italian creative industry generate a turnover of almost 4 billion euros, with excellent results in terms of return (average Ebitda between 20% for small companies and 30-40% for those of larger size). Despite the delicate historical period we are experiencing, the film business and world audiovisual continued to record steady revenue growth thanks to the development of the streaming market which today generates 2/3 of the value of the global entertainment industry.
