This year’s 10th edition of Rome’s MIA Market was a resounding success, with a 10% increase in attendance over the previous year. More than 2,800 participants from 60 countries gathered in the Eternal City for five days of pitching sessions, panel discussions, and debates about the current state and future of the global film and TV industries.
Market director Gaia Tridente expressed her gratitude for the strong identity and credibility that MIA has established, making it a key player in the co-production market and a vital hub for financing, distribution, and showcasing works and talents. Over 600 projects participated in this year’s co-production market and pitching forum, a significant increase from the previous year, showcasing greater geographical diversity with 90 countries represented.
Organizers highlighted that over the course of the 10 editions, more than 100 audiovisual works have been produced following their participation in the MIA co-production market, demonstrating the success of the selection process and the valuable opportunities the market offers for co-producers and international partners. Tridente emphasized that MIA represents the diverse needs of the audiovisual sector, catering to different formats and distribution channels, while also keeping a keen eye on technological innovation in the creative industries.
One notable takeaway from the event was the discussion around Italy’s film and TV market. While the industry has seen significant growth in recent years, reaching over €2 billion in investment in original content production in 2023, concerns were raised about the government’s modifications to the country’s tax rebates. Italy’s tax rebates have been a driving force behind the industry’s growth, supporting a substantial portion of national production. However, compared to other European countries like France and the U.K., Italy’s rebate offerings are relatively limited, potentially hindering its competitiveness in the international market.
Another key topic of discussion was the trend of buyers favoring known intellectual properties (IP) in the scripted drama genre. While established properties offer a sense of security for buyers, there is a growing interest in original ideas and voices in the market. Some industry experts noted a shift towards more original content as buyers seek long-running, recurring shows based on fresh concepts. The importance of nurturing original voices and allowing them to flourish was highlighted as crucial for the industry’s continued evolution.
Despite the success and vibrancy of the European indie film production scene, challenges remain for independent producers. Financing films has become increasingly difficult, with stricter regulations and closed borders posing obstacles to international co-productions. Industry leaders are navigating these challenges while advocating for the preservation of creative freedom and diversity in storytelling.
Overall, the 10th edition of Rome’s MIA Market showcased the resilience and innovation of the global film and TV industries, emphasizing the importance of collaboration, creativity, and adaptability in an ever-evolving landscape. The world of independent film production in Europe is facing a challenging landscape as countries grapple with protecting their own interests amidst shifting financial models and technological advancements. Andrea Occhipinti, CEO of Italy’s Lucky Red, emphasizes the need for producers to be smarter, build relationships, and create projects with international appeal in order to navigate the changing industry.
State-backed support mechanisms that have traditionally bolstered the indie market are under threat across Europe. Italy is considering modifications to its tax incentive scheme, while Germany is advocating for a new film law that includes investment obligations from streamers and broadcasters. France remains a model for many European industries with its unique “cultural exception” model, but industry players must continuously advocate for its preservation.
Collaboration among independent producers is proving to be empowering in the face of these challenges. The alliance of independent production companies known as The Creatives allows producers to work together on projects and advocate for the industry as a whole. Marie Ange Luciani, producer of “Anatomy of a Fall,” emphasizes the ongoing need to advocate for the industry to protect it from threats.
While traditional funding models are under pressure, new financial models are emerging to finance films in Europe. Equity investors are showing an appetite for risk, particularly when films demonstrate international appeal. The European Commission has also launched equity investment instruments to spur production and distribution on the continent. However, escalating costs in the industry pose a threat to these measures, and producers must find ways to balance risk and return on investment.
Brand partnerships and niche distribution networks are on the rise in Europe, offering new ways to monetize content in a fragmented media environment. European subsidy systems play a key role in attracting investors and balancing the risk profile of films. The industry is adapting to a changing landscape where niche audiences are becoming increasingly important.
On the technological front, Europe is lagging behind in embracing artificial intelligence (A.I.) in the creative process. While Hollywood has accepted A.I. as a crucial part of production, European broadcasters are slower to adopt the technology. Industry representatives are pushing networks and regulatory bodies to recognize the benefits of A.I. while ensuring safeguards for ethical practices.
Concerns about job loss and copyright protection loom large as A.I. technology advances. However, producers like Ariens Damsi of Italy’s Eliofilm see the potential for A.I. to enhance the creative process rather than replace human input entirely. As A.I. technology continues to improve, its applications and capabilities are only expected to grow in the future. The industry must adapt to these technological advancements while continuing to advocate for the preservation of independent film production in Europe. The recent MIA Market in Rome brought together industry professionals to discuss the ever-evolving landscape of content delivery technologies and production costs. Carlo Dusi, CEO of Turning Point, highlighted the shifts that have occurred in the past year, emphasizing the importance of arming producers with market insights. Arvand Khosravi, from Fifth Season, stressed the need to adapt to buyer preferences amidst corporate upheaval.
One of the key challenges for European producers is bridging the gap with American partners accustomed to the Hollywood system. Lars Blomgren, head of international at Media Res, noted the slow but steady acceptance of the co-production model in the U.S. This presents an opportunity to assist commissioners with financial and business aspects, leveraging tax incentives and talent to create compelling content.
Building trust with commissioners is essential, as demonstrating production viability is crucial in securing partnerships. Despite recent challenges such as recession and the global pandemic, there is a sense of optimism in the industry. Joe Lewis, producer of “Fleabag” and “100 Foot Wave,” reassured attendees that the television business is on a growth trajectory, with ample opportunities for those willing to adapt.
As delegates at MIA awoke to rainy skies in Rome, the eventual clearing weather symbolized a hopeful outlook for an industry that has weathered various storms. While the road ahead may be uncertain, there is a consensus that the television business is resilient and primed for continued growth. With a focus on seizing opportunities and navigating the evolving landscape, industry professionals remain optimistic about the future of content creation.
