ItsArt, Franceschini’s ‘Italian Netflix’ botched: First financial statement closed in red with more than 7 million

What are the intentions of the Minister of Cultural Heritage Dario Franceschini should be”italian netflix“It was a first year of life that was complicated to say the least. Let’s talk about it’s artthe digital platform aimed at presenting Italian entertainment and culture, which closed the 2021 budget with losses of more than 7.4 million euros.

This was revealed by financial journalist Andrea Giacopino in his newsletter Finanzadietrolequinte. Important red chaired the shareholder meeting Giorgio TakeaDirector general kiloa private streaming platform that controls ITsArt with 49% of the capital, has decided to absorb it with its capital reserve of Cassa Depositi e Prestitithe majority of shareholders at 51%.

But it’s the balance sheet numbers that make us think: In 2021 I Revenues amounted to 245 thousand euros, compared to 7.7 million costsof which approximately 900,000 euros are for individuals.

The users Register on the platform? Just 141 thousandnumbers that cannot be remotely compared to “real” Netflix and its Italian user base.

But it’s ItsArt’s story that started off the wrong foot. If in fact Registration on the platform is free, and the vast majority of content is not, about 1400 in the “Library”. As for the latter, you have to get your hands in your hair: many of the films or documentaries on the site are actually Available for free on RaiPlayIt is, in fact, its sister platform and above all completely free.

Even today, it is not clear why the ministry led by Franceschini chose to generously fund a service like ItsArt: “Platform for Culture,” as cultural heritage defines its art, will in fact be called Ray, generously funded by license fees with just under $2 billion a year, And in its service contract there is specifically the promotion of arts and entertainment.

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