Cinecittà Chief Nicola Maccanico on Turning a Profit Despite Hollywood Strikes and Prospects for Italy’s New Tax Rebates (EXCLUSIVE)
variety.comNick Vivarelli International Correspondent Italy’s Cinecittà Studios, which have been undergoing a radical overhaul since 2021, recently released their fiscal 2023 results, which saw the Rome-based facilities turn a profit for the second year in a row after bleeding red ink for years.
The iconic studios are being managed by Nicola Maccanico, a former Warner Bros. and Sky Italia senior exec who last year lured big shoots such as Roland Emmerich’s gladiator series “Those About to Die” starring Anthony Hopkins and Netflix’s period soap “The Decameron” to the government-run “City of Cinema.” Last year, the studios were able to maintain a 70% occupancy level despite the impact of the Hollywood strikes and are on track to keep that level this year with several big Hollywood shoots coming soon, though NDAs are keeping details under wraps.
Below, Maccanico speaks to Variety about how he’s navigating Cinecittà’s revamp and what the prospects are going forward. The studios’ profit margin is on a par with last year.
Where is the growth? We managed to grow 20% in terms of turnover [that in 2023 was €46.8 ($50.5 million)], which then generated the €1.8 million profit in a year marked by the writers’ and actors’ strikes in the United States.
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