How much is it worth and who invests in the Sanremo Festival?
The Sanremo Festival represents an ever-growing turnover of millions of euros and this year, after the success of 2022, it is a first time for some major sponsors who do not want to miss the musical event that kicks off this evening. Facts, numbers and comments
The Italian musical festival par excellence opens tonight. Now in its 73rd edition, the Sanremo Festival keeps millions of viewers glued to the screens every year and generates a turnover of millions of euros.
The report Economics of Entertainment and Entertainment , produced by Banca Ifis (which has a special relationship with Liguria, in addition to being a sponsor of Casa Sanremo, is also a sponsor of Sampdoria) has calculated investments and revenues that revolve around the event, which makes an important contribution to a sector which in Italy is worth over 50 billion euros.
WHO AND HOW MUCH INVESTS IN THE SANREMO FESTIVAL
Being a showcase that offers a great opportunity for visibility, Banca Ifis states that the Sanremo Festival has seen a continuous increase in advertising investments over the last 5 years, with an average annual growth of 11%, equal to 35 million euro.
In 2022, Rai advertising sales came close to 42 million euros and for this year a volume of revenues from advertising is expected of 46 million euros (+9%).
"Today we can say that we have surpassed the already excellent result of 2022", said Gian Paolo Tagliavia, CEO of the Rai concessionaire, during the press conference to present the sponsors of the event. “We will communicate the precise numbers as per tradition next Sunday, after the Festival is closed, but yes, I can confirm that we are close to the result of 50 million euros that has been discussed in recent days”.
But in addition to Banca Ifis, Generali Assicurazioni also appears among the sponsors of the musical event for the first time, alongside Plenitude (Eni), Costa Crociere, Suzuki, Sephora (make-up partner), Dyson (haircare partner) and VeraLab ( skincare partner), but also Poltronesofà, Samsung, Durex and Swarovski.
NOT ONLY ADV
But the Sanremo Festival, for which over 41,000 people are expected including guests, organizers, staff and tourists, also generates over 18 million euros for the activities of the Ligurian territory.
In particular, they are broken down as follows: 8.8 million euros for accommodation, 2 million euros for catering, 2 million euros for shopping and casinos, and finally 0.6 million euros for transport; to which must be added the 5 million euros provided by Rai to the Municipality.
As anticipated, however, it is precisely Rai that benefits the most from the event given that for the 5 million euros invested, it sees over 40 return.
THE NUMBERS OF SHOWS AND ENTERTAINMENT
The Banca Ifis study also shows that the Sanremo Festival is part of a much larger and vitally important reality for the economy of our country. In 2022, in fact, the entertainment and entertainment sector generated 54.1 billion euros, equal to 1.5% of the national GDP, with a growth of 2% compared to the values recorded in 2019, i.e. the last pre-Covid year.
A positive trend that the report forecasts at around +3% (with revenues of almost 56 billion euros) also for 2023 thanks to the momentum in the production and distribution of content, especially for television and cinema.
According to forecasts, the sectors with the greatest development will be those most closely linked to content creation (+6%, equal to +778 million euros in revenues) and media (+3%, equal to +852 million euros of revenues) from show business and entertainment, especially television and cinema.
THE NUMBERS OF MUSIC
The research also shows that music cannot be missing in the lives of Italians, who listen to it more than 20 hours a week and for 61% it is even essential for mental health.
The revenues of the Italian recording market, 10th in the world ranking, amount to 332 million euros.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/quanto-vale-e-chi-investe-nel-festival-di-sanremo/ on Tue, 07 Feb 2023 13:31:42 +0000.