Cinecittà Studios Chief Nicola Maccanico on Turning a Profit and Bringing Back Hollywood Productions (EXCLUSIVE)
variety.comNick Vivarelli International Correspondent Rome’s Cinecittà Studios are generating a profit for the first time in years amid a radical upgrade, overhaul, and expansion of the filming facilities where Hollywood productions are now flocking on a scale that is starting to be comparable with its glory days.
Roland Emmerich last month started shooting his gladiator series “Those About to Die” starring Anthony Hopkins as Emperor Vespasian; Joe Wright is in the midst of production on TV series “M,” about Benito Mussolini’s rise to power; and in January cameras started rolling in the “City of Cinema” on Netflix’s period soap “The Decameron.” These are among the biggest international productions lured by the storied studios in recent years, also thanks to Italy’s 40% cash back tax rebate.
The Cinecittà revamp is being devised by CEO Nicola Maccanico who since 2021 has been implementing a plan fueled by a €300 million ($327,000 million) loan provided by the European Union’s post-pandemic recovery fund and driven by Italy’s ambitions for Cinecittà to go back to being a top European production hub.
Two years later, the studios are boasting one of Europe’s largest LED walls (pictured) as revenues soar and a small but significant profit is being made.
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