ITsArt Shuts Down: Italy's 'Netflix of Culture' Goes Offline

ITsArt, the Italian video streaming platform launched as the 'Netflix of culture' by former culture minister Dario Franceschini, is being liquidated after accumulating losses of nearly €7.5 million in less than a year. The platform will go offline on May 12, 2023, less than two years after its launch on June 2, 2021. Current culture minister Gennaro Sangiuliano decided not to refinance the project. ITsArt was conceived during the first COVID-19 lockdown and officially announced in July 2020 to compensate for the lack of live performances and reach a national and international audience. The project was promoted by the then-Mibact (now MiC) together with Cassa Depositi e Prestiti (CDP), which owned 51% of the company, with CHILI Spa holding 49%. Despite an initial public investment of €10 million, the platform generated only €246,000 in revenue in 2021 against €7.5 million in expenses, with just 141,000 registered users. It faced criticism for poor user experience, unappealing content, and overpriced subscriptions. Exceptions included the documentary 'Eterna Pompei' on the restoration of the Casa dei Vettii, 'Bene! Vita di Carmelo, la macchina attoriale', and 'Franco Battiato – La Voce del Padrone'. The company went through three CEOs in one year and currently has no editorial or artistic direction. The liquidation process began on December 29, 2022, and the company will soon be removed from the business register.