From Netflix’s massive workforce cuts and European producers fighting for intellectual property rights to a €100 million investment fund and the growing microdrama market, the 12th Rome MIA Market exposed the opportunities and challenges reshaping the future of film and television.
The global entertainment industry is going through a major transformation, and the 12th edition of Rome’s MIA Market 2026 offered a front-row view of the changes. As some of the biggest names in international film and television gathered in Rome, conversations went far beyond new movies, television series and distribution deals. The real talking points were corporate shake-ups, shrinking production budgets, streaming uncertainty, new investment opportunities and the growing influence of short-form vertical content.
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Held from October 19 to 23, the Mercato Internazionale Audiovisivo (MIA) brought together producers, studio executives, financiers, distributors and filmmakers from across the world. The event welcomed more than 2,800 professionals from 64 countries, with 630 project submissions received from 83 countries. A total of 104 projects from 43 countries were selected for its co-production, gap-financing and work-in-progress programmes.
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Among the high-profile attendees were Banijay Entertainment CEO Marco Bassetti, Studiocanal CEO Anna Marsh, Bad Wolf CEO Jane Tranter, and filmmakers Edward Berger and Asif Kapadia. But behind the impressive industry gathering was a serious question: where is the entertainment business heading when even its biggest players are being forced to rethink their strategies?
Netflix’s 1,000 Job Cuts Become a Major Talking Point
The timing of MIA 2026 was particularly significant. The event took place just days after Netflix announced a workforce reduction of approximately 1,000 employees, representing around 6% of its staff. The company also underwent a major leadership shake-up, with chief content officer Bela Bajaria leaving and film division head Dan Lin exiting the organisation.
These developments became an important backdrop to discussions in Rome, highlighting the uncertainty facing even the world’s most powerful streaming companies.
The changes reflect a wider industry challenge. Streaming platforms are competing not only with traditional broadcasters and rival services but also with YouTube, TikTok and creator-led entertainment. Audiences have more choices than ever, but getting them to commit their time to a particular show or film has become increasingly difficult.
For production companies, the consequences could be significant. Changes in senior leadership can alter commissioning priorities, delay greenlights and force projects to undergo fresh evaluations. A series that receives support from one executive may find itself facing a different set of expectations after a management change.
However, the MIA discussions also highlighted a different perspective: industry consolidation can create opportunities. CAA’s Roeg Sutherland argued that mergers and business contraction can open doors for financiers and investors willing to identify opportunities while others are pulling back.
Studiocanal CEO Anna Marsh similarly stressed the need for companies to challenge established practices and adapt to changing audience behaviour.
European Producers Want More Control Over Their Stories
One of the biggest concerns discussed at MIA was the question of intellectual property ownership.
Banijay Entertainment CEO Marco Bassetti argued that European producers need better recognition and compensation for the creativity and original content they bring to the global entertainment business.
His concern is that producers often develop the ideas, assemble the creative teams and deliver the finished productions, while streaming platforms and studios retain substantial control over the resulting intellectual property.
For independent producers, this can become a long-term financial problem. Owning or retaining a meaningful share of a successful series can generate revenue through future seasons, international distribution, remakes, licensing and merchandising. Without those rights, producers may struggle to benefit from the long-term success of the very projects they helped create.
The debate is also connected to calls for global streaming platforms to invest more in local European productions.
Bassetti’s comments suggest that European producers want to move beyond being service providers for international platforms. They want stronger negotiating positions, better access to financing and a greater share of the value created by their content.
This could influence future production agreements, co-production arrangements and negotiations between independent studios and streaming giants.
Italy’s Film and Television Production Spending Falls 7.4%
While the international entertainment industry searches for new business models, Italy is dealing with its own production challenges.
According to the eighth report released by the Italian Audiovisual Producers Association (APA) at MIA, investment in content production for cinema, television and video-on-demand fell 7.4% in 2025 to approximately €2 billion.
It marked the first decline in production spending since 2018.
The scripted production sector was particularly affected, with investment in film and television drama falling to approximately €740 million, a decline of 5.5%. Uncertainty surrounding government tax-credit reforms and changes in viewing habits contributed to the slowdown.
The figures reveal an interesting contradiction. Italy’s overall audiovisual industry generated €16.8 billion in 2025, growing 3.1% year-on-year, but the money going directly into new productions declined.
Online video services are becoming an increasingly important part of the market. Free online video services recorded 15% growth, while paid online services grew by 10.3%.
In other words, audiences are consuming more digital content, but the traditional production financing structure is under pressure.
Italy continues to produce successful titles. Netflix’s The Monster of Florence, directed by Stefano Sollima, reportedly generated 9.7 million global views in its first week in October 2025. Meanwhile, television titles such as Sandokan and La Preside attracted substantial audiences on Italian television.
These successes demonstrate that local storytelling still has international potential. The challenge is ensuring that producers have enough financial support to keep developing ambitious projects.
€100 Million Fund Could Give Italian Producers a New Opportunity
One of the most important developments at MIA was the growing focus on alternative financing.
The market introduced its European Investment Hub, a new initiative designed to connect audiovisual producers with private investors, financial institutions and other sources of capital.
The aim is to help producers understand the financial tools available to them and reduce their dependence on traditional broadcasters, studios and streaming platforms.
The event also witnessed the launch of a €100 million fund backed by Media Capital Technologies and Italy’s RP1 Holding. The fund is intended to support audiovisual productions and film distribution in Italy, with a particular focus on strengthening the independent sector.
For independent filmmakers, this could become an important development. Getting a project financed has become increasingly complicated as distribution advances decline, production costs rise and buyers become more selective.
Access to private capital could help bridge financing gaps, support ambitious projects and give producers additional negotiating power.
However, investment does not automatically mean easy money. Producers will need credible business plans, realistic revenue expectations and a clear understanding of the investors they bring on board.
Vertical Content and Microdramas Could Become the Next Big Thing
Perhaps one of the most interesting conversations at MIA concerned the rapid growth of vertical entertainment.
Short-form videos have already changed how people consume content on platforms such as Instagram Reels, YouTube Shorts and TikTok. Now, the industry is exploring how the same mobile-first format could support professionally produced scripted entertainment.
Vertical series and microdramas are designed primarily for smartphone screens, often using short episodes, quick storytelling and dramatic cliffhangers to encourage viewers to continue watching.
Former Netflix executive Kelly Luegenbiehl, founder of Shorties Studios, described the sector as an emerging market with enormous creative potential but no established roadmap for profitability.
Sony Pictures Television executive Andrew Plotkin also suggested that changing cultural habits could indicate an important turning point for vertical content.
The opportunity is attracting both digital platforms and established entertainment companies. However, the business model remains uncertain.
The biggest challenge will be turning short attention spans into sustainable revenue. Producers must figure out whether audiences will pay for microdramas, whether advertising can support the format and how to build loyal viewers rather than chasing temporary viral attention.
For emerging filmmakers and independent production houses, vertical storytelling could offer a relatively accessible route into scripted entertainment. It may also create fresh opportunities for writers, actors, directors and digital creators.
Horror Is Back, and Italy Wants a Bigger Share
Another major discussion at MIA focused on the renewed popularity of horror.
Italian cinema has a celebrated horror legacy associated with filmmakers such as Dario Argento, Lucio Fulci and Mario Bava. Now, a new generation of filmmakers is exploring the genre through contemporary storytelling and digital platforms.
Paolo Strippoli’s thriller The Spiral, representing Italy in the international feature Oscar race, became one of the talking points around the country’s horror resurgence.
Industry executives discussed how social media, online creators and theatrical event experiences are helping horror reach wider audiences.
The business opportunity is not limited to individual films. Distributors increasingly want to build recognisable brands around filmmakers, characters and distinctive visual styles. A successful horror property can potentially create demand for future projects from the same creative team.
TikTok and YouTube are also influencing how audiences discover new horror concepts and filmmakers. The challenge for distributors is identifying genuine creative talent rather than simply chasing whatever happens to be trending online.
MIA 2026 Signals a New Direction for Global Entertainment
The 12th edition of MIA also transformed its physical layout, expanding beyond Palazzo Barberini and Cinema Barberini into seven official venues across Via Veneto and Piazza Barberini.
The expanded format included more than 40 conferences, talks and meetings featuring 85 international speakers. A new Animation Series Gap Financing Market also provided dedicated support for animated series seeking additional financing.
The changes reflect MIA’s ambition to become more than a traditional industry networking event. It wants to connect creative development, production, financing, distribution and international collaboration in one ecosystem.
For European producers, the future may depend on combining traditional storytelling strengths with new financial models and digital formats.
Bottom Line
Rome’s MIA Market 2026 revealed an entertainment industry caught between uncertainty and opportunity. Netflix’s layoffs and leadership changes, Italy’s declining production investment, the fight for intellectual property rights and the rise of vertical storytelling all point towards a business being forced to reinvent itself.
The €100 million Italian fund and the European Investment Hub could offer fresh support to independent producers, while the growing interest in microdramas may open new doors for emerging creators.
One thing is becoming increasingly clear: the future of entertainment will not be decided by streaming platforms alone. Ownership, financing, audience engagement and the ability to discover new formats will determine which production companies survive, grow and shape the next generation of global entertainment.
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