“They left together, destination San Siro” sang Antonello Venditti telling the story of Piero and Cinzia’s journey to the historic Bob Marley concert in 1980. Today, over 40 years later, Milan continues to be the entertainment capital: the Lombard capital – which this weekend at San Siro hosted Max Pezzali’s sold-out double show – recorded 28 million spectators in 2025 for 277 thousand events including concerts, theaters, cinemas, stadiums, exhibitions, and nightclubs. A flow that generated 735 million in box office revenue: more than the earnings of all the provinces of Southern Italy combined.
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ON THE TERRITORY
Revenue by macro area. In millions of euros and % of total
This is the geography that emerges from the Siae Report 2025: a single province is worth more than eight regions. “The North – explains Siae’s general director, Matteo Fedeli – concentrates infrastructure, large venues, promoters, sponsors, more efficient transport, greater accommodation capacity, and continuous programming throughout the year. The South, on the other hand, suffers from structural issues, fewer spaces suitable for large events, and more seasonality.”
The geography
Milan is not the only hub. The city with the most events is Rome where 360 thousand are recorded, almost a thousand per day. However, the capital hosts relatively smaller shows, with an average of 74 spectators present, and an average revenue of 1,492 euros, well below Milan’s 2,651 euros. The two provinces together earn almost 30% of the national spending on shows.
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While Milan and Rome dominate in volume, Bologna triumphs in yield with the highest average number of spectators per show (116) and the highest average revenue (2,895 euros), almost double that of the Capital. The black mark goes instead to Cagliari, last among the big cities for offerings (only 41,715 events throughout the year), an average of 46 spectators, and an average revenue of 622 euros.
IN THE BIG CITIES
Revenue per show and spectators. Average data in 2025
North and South follow two very different models: in northern cities, shows are on average larger (88.6 average spectators) and the average ticket price is high (18 euros), while in southern cities spectators stop at 58.5 and the ticket does not exceed 14.2 euros. The combination of these two factors means that each event organized in the North generates almost double the revenue compared to those in the South: 1,595 euros per show versus 832 euros.
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