One billion euros will be invested in the film industry of Serbia in the coming period

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The Minister of Economy in the Government of the Republic of Serbia Goran Knezevic and the owner of the production company Iervolino Entertainment Andrea Iervolino signed a Memorandum of Understanding on Friday, June 5, which envisages that the world-famous production company in Serbia will open its studio, investing 8.5 million euros.
Namely, the plan is to invest in the construction of studios for the production of short, animated, web, streaming forms in Serbia, education and employment of highly qualified staff, as well as the transfer of copyright. The production of the mentioned film forms will start this year in Serbia, and the project will be developed in phases in the following period, the Government of Serbia announced.
Knezevic stated that the Memorandum planned for the production company from Italy to open a studio in which 580 highly qualified experts will be employed. According to him, it is planned that the company Iervolino Entertainment will establish a company to which it will transfer more than 11 million euros of copyrights.
The Minister specified that the company will produce animated films, at least ten during the year, worth at least 150,000 euros, or at least 150,000 euros per episode for animated series.
Iervolino expressed his gratitude to the Government of Serbia, which supported the entire project, and announced that the first employees of their Serbian company would start working on July 1.
He also pointed out that productions made in Serbia will be distributed all over the world, in at least 150 countries.
– Our plan is to produce content worth one billion euros in Serbian cinematography by 2031 – said Iervolino and added that Serbia is ready to fully express its potentials and artistic knowledge.
The signing of the Memorandum was also attended by the Serbian actor and one of the owners of the production company Archangel Studios, Milos Bikovic, who is also responsible for the arrival of Iervolino Entertainment in Serbia.
– We all know what talents we have when it comes to our young scientists, we know what gems we have in sports, and now we will have the opportunity to show what talents we have in art, design, screenwriting. The whole world will be able to see that – said Bikovic and added that he believes that the results will exceed expectations, eKapija reports.