Rome Film Festival budget slashed

Funds cut from $24 million to $15 million

The Rome Film Festival’s budget is being slashed from this year’s $24 million to a maximum of $15 million, rekindling questions about the future size and scope of the Eternal City extravaganza.

Citing the global economic crisis, a board meeting attended by Rome’s conservative mayor, Gianni Alemanno, on Wednesday deliberated the drastic cut, while confirming that the fest will run in 2009.

The event, launched in 2006 by Rome’s then-Mayor Walter Veltroni, has been captive to political turmoil ever since the left-wing Veltroni stepped down in May when Silvio Berlusconi won national elections and Alemanno gained power in the Italian capital.

That’s why the economic crunch isn’t the only crucial factor in determining Rome’s reconfiguration. Though the fest draws 70% of its funding from corporate sponsors, everything in Italy, including corporate funding, is political.

However, Rome’s budget for its fourth edition is only slightly less than the $16 million that the Venice Film Festival had at its disposal this year.

Meanwhile, Rome has other pressing issues to resolve. Giorgio Gosetti and Teresa Cavina — co-directors of its Cinema 2008 section, which made up most of the competition lineup of the fest — ankled after the October edition due to differences with fest prexy Gianluigi Rondi, who was installed in June.

Gosetti also headed Rome’s informal Business Street mart, while Cavina was chief of its New Cinema Network co-production mart.

Other European fests including Spain’s San Sebastian and Holland’s CineKid have issued public warnings that the looming threat of budget cuts could put them out of business.

More Film

  • NANTUCKET, MA - JUNE 23: (L-R)

    How Long Will TV and Film's Boom Market for Female Stories Last?

    The Rome Film Festival’s budget is being slashed from this year’s $24 million to a maximum of $15 million, rekindling questions about the future size and scope of the Eternal City extravaganza. Citing the global economic crisis, a board meeting attended by Rome’s conservative mayor, Gianni Alemanno, on Wednesday deliberated the drastic cut, while confirming […]

  • 'Ideal Home' Review: Steve Coogan, Paul

    Film Review: 'Ideal Home'

    The Rome Film Festival’s budget is being slashed from this year’s $24 million to a maximum of $15 million, rekindling questions about the future size and scope of the Eternal City extravaganza. Citing the global economic crisis, a board meeting attended by Rome’s conservative mayor, Gianni Alemanno, on Wednesday deliberated the drastic cut, while confirming […]

  • 'Calibre' Review: A Terrific, Intensely Terrifying

    Edinburgh Film Review: 'Calibre'

    The Rome Film Festival’s budget is being slashed from this year’s $24 million to a maximum of $15 million, rekindling questions about the future size and scope of the Eternal City extravaganza. Citing the global economic crisis, a board meeting attended by Rome’s conservative mayor, Gianni Alemanno, on Wednesday deliberated the drastic cut, while confirming […]

  • CHRIS PRATT stars as Owen in

    Box Office: 'Jurassic World: Fallen Kingdom' Gnaws on $144 Million Debut Weekend

    The Rome Film Festival’s budget is being slashed from this year’s $24 million to a maximum of $15 million, rekindling questions about the future size and scope of the Eternal City extravaganza. Citing the global economic crisis, a board meeting attended by Rome’s conservative mayor, Gianni Alemanno, on Wednesday deliberated the drastic cut, while confirming […]

  • Leung Chiu-wai

    Tony Leung Breaks With Wong Kar-wai’s Jettone (Reports)

    The Rome Film Festival’s budget is being slashed from this year’s $24 million to a maximum of $15 million, rekindling questions about the future size and scope of the Eternal City extravaganza. Citing the global economic crisis, a board meeting attended by Rome’s conservative mayor, Gianni Alemanno, on Wednesday deliberated the drastic cut, while confirming […]

  • No Merchandising. Editorial Use Only. No

    ‘Jurassic World’ Holds off ‘Incredibles 2’ in China

    The Rome Film Festival’s budget is being slashed from this year’s $24 million to a maximum of $15 million, rekindling questions about the future size and scope of the Eternal City extravaganza. Citing the global economic crisis, a board meeting attended by Rome’s conservative mayor, Gianni Alemanno, on Wednesday deliberated the drastic cut, while confirming […]

  • shanghai skyline China Placeholder

    Regulators Keep Chinese Film Industry in Suspense

    The Rome Film Festival’s budget is being slashed from this year’s $24 million to a maximum of $15 million, rekindling questions about the future size and scope of the Eternal City extravaganza. Citing the global economic crisis, a board meeting attended by Rome’s conservative mayor, Gianni Alemanno, on Wednesday deliberated the drastic cut, while confirming […]

More From Our Brands

Access exclusive content