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BETWEEN PAST AND FUTURE, A HOPEFUL PRESENT
Press release n. 7 of the 26/03/2022 14.42.50 ( download )
The economic outline of the audio, video and lighting sectors for entertainment, at Rimini Expo Centre from 27th to 29th March for Italian Exhibition Group´s MIR Tech
Night entertainment is ready to start anew
For several years, the night entertainment world and, in particular, the disco, dancehall and night club sector has undergone a process of transformation, at both structural level and as far as how they are used by the public is concerned.
This process has obviously been greatly conditioned by the Covid pandemic, which, due to the lengthy lockdown period, has led to an almost total blockage of business.
According to trade associations´ estimates, in 2020 alone losses for the live sector totalled approximately 950 million euros between those of a direct (350 million) and induced (600 million) nature.
The disco sector was particularly hard hit. According to trade members, the situation is still precarious, above all due to the many uncertainties still remaining.
This is the reason for the increasingly urgent requests with the Government regarding the elimination of the limits of admittance to the venues (still currently 50% of their total capacity) and the measures to combat the many forms of unauthorized activity that damages regular enterprises. In particular, this regards the increasingly numerous events that, above all during the summer, are held in places unsuited to this type of activity.
In any case, in spite of the continuation of an overall atmosphere of uncertainty, forecasts for the 2020 season are characterized by cautious optimism, subject to the overcoming of the limits applied up until now and thanks to the very eager expectations on behalf of the traditional public.
Sources: SILB / AFI -Associazione Fonografici Italia / Assomusica
The industry of equipment and systems for entertainment is going strong, particularly abroad
Systems and lighting for shows and events represent a small niche in the overall sector of the Italian lighting industry. But it is a niche that grew constantly until 2019, with annual percentages of between 1.8-2% and a turnover of over 700 million euros, of which 75% comes from foreign sales and involves about forty enterprises with a workforce of approximately 1,400.
Until 2019, Italy, with a share of 4% of the international market was the world´s fourth exporter of lighting systems after China (56%), Germany (6%) and Mexico (5%). Italian products are essentially high quality and used above all for large events.
The major markets for export were and still are France, Germany, Great Britain and USA. The demand from Russia increased considerably recently, but this market is now compromised.
Following a sharp drop in 2020 (-17.5%), in 2021 Italy´s exports recovered. In fact, in the January-November period, there was a rise of 16.3% in the entire Italian lighting sector for a value of 1.54 billion euros. The countries to which Italian exports increased the most are United States (+35.3%), Great Britain (+33.9%), Germany (+19%) and France (+15.7%).
Although this is a rather small sector, it stands out worldwide for the high quality of its products, which manage to beat the very fierce international competition, starting from those manufactured in China, which, while absolutely dominating the market, is still concentrated on medium quality manufacturing.
Sources: Assoluce . Federlegno Arredo
ABOUT MIR TECH 2022
Organizers: Italian Exhibition Group SpA in collaboration with APIAS, SILB FIPE, ENA; Frequency: annual; Edition: 5th; Admission: professionals, trade members and general public; Group Exhibition manager: Andrea Ramberti; Exhibition manager: Romina Magnani; website: www.musicinsiderimini.it
ITALIAN EXHIBITION GROUP PRESS CONTACTS
Head of media relation & corporate communication: Elisabetta Vitali
Press office manager: Marco Forcellini
MIR TECH MEDIA AGENCY
Naper Multimedia| Zoe Perna | T. +39 3332585959 | email: email@example.com
FOCUS ON ITALIAN EXHIBITION GROUP
Italian Exhibition Group S.p.A., a joint stock company listed on Euronext Milan, a regulated market organised and managed by Borsa Italiana S.p.A., has, with its facilities in Rimini and Vicenza, achieved national leadership over the years in the organisation of trade shows and conferences. The development of activities abroad - also through joint-ventures with global or local organisers, in the United States, United Arab Emirates, China, Mexico, Brazil and India, for example . now sees the company positioned among the top European operators in the sector.
This press release contains forecast elements and estimates that reflect the management´s current opinions (´forward-looking statements´), particularly regarding future management performance, realization of investments, cash flow trends and the evolution of the financial structure. For their very nature, forward-looking statements have a component of risk and uncertainty, as they depend on the occurrence of future events. The effective results may differ (even significantly) from those announced, due to numerous factors, including, only by way of example: food service market and tourist flow trends in Italy, gold and jewellery market trends, green economy market trends; the evolution of raw material prices; general macroeconomic conditions; geopolitical factors and evolutions in the legislative framework. Moreover, the information contained in this release, does not claim to be complete, and has not been verified by independent third parties. Forecasts, estimates and objectives contained herein are based on the information available to the Company as at the date of this release.