The Mondadori Group unveils its first Sustainability Plan

3 focus areas, 8 strategic guidelines with targets and actions in the short and medium term

Focus in 2022 on: Diversity & Inclusion, LTI goals on ESG issues, fulfilment of ≈100% of PEFC/FSC certified paper

The Mondadori Group has released its first Sustainability Plan – part of the 2021 Consolidated Non-Financial Statement – approved by the Board of Directors and endorsed by the Control, Risk and Sustainability Committee.

The document – a summary of which is available in the Sustainability section at www.mondadorigroup.com– identifies strategic areas, qualitative and quantitative targets, and actions in the short and medium term for the ongoing improvement of performance in the social, governance and environmental areas, consistent with the Sustainable Development Goals (SDGs) outlined in the 2030 Agenda of the United Nations.

In its first edition, the Plan focuses on three main areas of action:

1) enhancing people, content and places for education and culture;

2) promoting sustainable business success;

3) dissemination of an environmental culture and mitigation of impacts on ecosystems.

There are eight relevant guidelines that reflect the Group’s identity and mission.


“The path that has led us to defining our first Sustainability Plan originates in the awareness that our role as a publisher calls for an innate and growing attention and ability to pay heed to the different realities we engage with“, said Antonio Porro, CEO of the Mondadori Group. “The evolution of society and the changes brought by the economic and technological scenario have, in fact, transformed our context of operation and the demands of our main stakeholders, whose needs and prospects are crucial for the very innovation of the company and its sustainable success. We have therefore taken the decision to effectively pursue specific goals in our priority areas, embarking on a journey that will also bring us gradually closer to market expectations on ESG topics. These include the dissemination of an inclusive culture, with actions for the enhancement and growth of our people”, concluded Porro.



The Mondadori Group’s first Sustainability Plan is the result of an approach developed over more than ten years of reporting in the field of sustainability, which now unfolds further, building on a project that has a far-reaching and organic vision and intends to add its contribution to achieving eight of the 17 SDGs launched globally by the United Nations.
The document was defined in accordance with the materiality analysis conducted and aimed at identifying the elements of strategic interest to the Group’s activities.
Focus points deriving from relevant key frameworks were highlighted and benchmark analyses were performed, as well as specific assessments of the value chain.
With a view to stakeholder inclusiveness, the development of the Plan was also marked by multiple stakeholder listening moments, including through surveys that actively involved Management, employees, and other relevant stakeholders, such as teachers, readers, bookstore customers and financial analysts.


Targets were identified within the Sustainability Plan for generating shared value over the short to medium term in the social, governance and environmental areas.
The pursuit of many of these targets represents a preliminary step in defining additional areas of action which will be outlined, with a view to ongoing improvement, in greater detail in future updates of the Sustainability Plan.

On the Social front in 2022, these include:

  • development and endorsement of a well-structured framework of KPIs for monitoring all D&I-related actions, with specific regard to the gender pay gap and gender balance;
  • redefinition of all Group policies in the area of selection and career development in order to increasingly attract all kinds of talent and promote resources based on a wider range of uniqueness models;
  • launch of the “Parenthood” project to promote more inclusive models for access to motherhood and fatherhood, removing existing biases and facilitating the return to work by enhancing acquired skills;
  • development of the Hybrid working project for the shared definition of a new mixed working model – through the creation of synergies and redefinition of new values – and extension of training in the area of digitization and new forms of work to all the people in the Group;
  • a growing number of initiatives and services to promote reading.

On the Governance front in 2022:

  • definition and measurement of ESG indicators with the introduction, among the targets of the 2022-2024 Performance Share Plan addressed to top management, of the Impact Inclusion Index, a composite indicator that measures, at the end of the three-year period, the dissemination within the Group of the culture of inclusion, the increase in the number of women in top positions, and the gradual reduction in the pay gap for same roles held;
  • development and implementation of a refresher plan for Board Members and Management in the area of sustainability;
  • strengthening of the set of procedures and coverage of the areas of Privacy, Information Management and Cyber Security;
  • increase in stakeholder engagement activities through the gradual expansion of engagement initiatives and validation of a specific policy on the topic, also in line with the recommendations of the new Corporate Governance Code;
  • validation of an anti-corruption Policy.

On the Environmental front in 2022:

  • extension to 100% of the School proposition of insights and fact sheets dedicated to environmental culture and promotion of such content in the Trade proposition;
  • fulfilment for the publications of the Group’s ≈100% purchase of paper certified to international PEFC/FSC standards aimed at safeguarding and ensuring the proper management of forest ecosystems;
  • pursuit of energy efficiency actions, also as part of property/building/store renovation initiatives, and further activities to reduce greenhouse gas emissions.

Grazia special issue dedicated to the young generations

Grazia, the magazine edited by Silvia Grilli, is on the news-stands this week with a special issue dedicated to the young generations. The protagonists of the latest issue are the stars of the virtual words, followed by millions of people, creators of digital universes and fashion imagined by Italy’s most creative students.

“A publication that cares has a duty to tell its readers about social developments. The world of videogames and gamers is a cross-generation phenomenon that brings kids and adults together to create and use infinite virtual spaces,” said editor-in-chief Silvia Grilli. “This issue of Grazia looks at creativity, dreams, the freedom of an imaginary universe. In asking students from the Istituto Europeo di Design to produce fashion features on videogames, I want to involve young people who believe in fashion and its infinite expressive possibilities in the creation of Grazia,” Grilli added.

The cover shows Irama, a singer with a huge following among youngsters, who in a short space of time has become the voice of a generation that rejects labels and fights for its dreams.

A key report examines the world of videogames, which today is more important than cinema, TV and music. The special issue presents the champions of the virtual world who have become global influencers today, from PewDiePie to Pokimane, as well as the phenomenon of streamers, who play live followed by millions of fans, such as Scarlett alias Sasha Hostyn, the most successful gamer of all time.

Italian names are not forgotten: Federica Campana, one of the first professional gamers, Sabrina Cereseto, with 2.7 million YouTube subscribers, and Fjona Cakalli, founder of Games Princess, Italy’s first videogames site run exclusively by women.

The special issue also offers two exclusive fashion features: a clothes shoot and a still life produced together with the professionals at Grazia by students on the Fashion Stylist & Communication course at the IED. The young photographers and stylists took their inspiration from the style of the gamers. The result is fresh colourful fashion, which is both elegant and ironic.

Grazia confirms its position as a constantly evolving brand, in part through a growing number of special projects for customers who want to communicate with the Young target: from the creative idea to the final engagement process, the aim is to produce content that speaks the same language as the target audience, capturing and engaging its attention, and so reaching the ambitious KPIs of each activation. The latest completed projects include Pandora, Onitsuka Tiger and Primark.

With 21 editions worldwide, Grazia is a reference for 3 million users and readers (source: Nielsen Media Impact Data Fusion, September 2021) and more than 1.6 million fans (source: Shareablee plus Tik Tok and Pinterest Insight, March 2022).

BoD approves results at 31 march 2022

In first quarter 2022, the Mondadori Group continued its efforts, on a like-for-like basis[1], to increase profitability; owing to the seasonal nature of the school publishing business, the positive contribution of  D Scuola will be felt more in the second half of the year.

  • Net revenue € 153.1 million: up by 5.7% versus 31.03.2021; net of the consolidation of D Scuola, the increase is +2.9%
  • Adjusted EBITDA € -1.1 million; net of the consolidation of D Scuola, the item closes at € +2.4 million, improving by € 1.3 million versus 31.03.2021
  • Group net result € -11.4 million; on a like-for-like basis, the result is € -7.1 million, recovering strongly versus 31.03.2021
  • Continued solid cash flow generation, net of the acquisition of D Scuola:
    – LTM cash flow from ordinary operations up slightly at € 68.9 million;
    – LTM free cash flow improves to reach € 57.5 million
  • NFP before IFRS 16 at € -135.8 million; excluding the effects of the acquisition of D Scuola, the NFP before IFRS 16 closes at € +9.6 million, improving sharply versus € -47.9 million at 31.03.2021



  • Mid-single-digit growth of revenue
  • Adjusted EBITDA up by more than 20%
  • Double-digit growth of net result
  • Cash flow from ordinary operations in line with 2021
  • Free cash flow in the region of € 40/45 million (before payout of the dividend) including the transactions already announced
  • NFP IFRS 16 less than 1.1x adjusted EBITDA.



[1] Net of the consolidation of D Scuola, effective as from 1 January 2022.

Today, the meeting of the Board of Directors of Arnoldo Mondadori Editore S.p.A., chaired by Marina Berlusconi, reviewed and approved the Interim Management Statement at 31 March 2022 presented by CEO Antonio Porro.

In first quarter 2022, the Group – excluding the contribution from the newly-consolidated D Scuola – continued its efforts to increase profitability, spurred by the positive trend in revenue across all business areas and careful management of operations implemented in the prior quarters, which led to greater structural efficiency. The Mondadori Group concurrently confirmed its ability to guarantee steady and solid cash flow generation.

“The performance we recorded in the first quarter, and the process of continued strengthening implemented so far, allow us to confirm for 2022 the estimates previously announced, despite the uncertain economic and geopolitical context”, emphasized Antonio Porro, CEO of the Mondadori Group. “The solidity of our business model and our continued ability to generate cash flow put us in a position to continue to focus on and grow in our core business of books: a target that we have successfully pursued to date also through a series of major acquisitions”, concluded Porro.

In the first quarter of the current year, the contribution of D Scuola, fully consolidated as from 1 January 2022, is irrelevant owing to the seasonal nature of the Education business which, in the first half of the year, records only the costs of creating editorial content as well as the expense from the promotional activities to support the adoption campaign, postponing the recognition of revenue from the sale of school textbooks to the second half of the year.

In first quarter 2022, consolidated revenue amounted to € 153.1 million, increasing by 5.7% versus      € 144.8 million in the prior year; net of the consolidation of D Scuola, Group revenue would have recorded a like-for-like growth of 2.9%, thanks to the contribution of all business areas, of the Retail area in particular.

Adjusted EBITDA for the period under review amounted to € -1.1 million. Excluding the result for the period of D Scuola, adjusted EBITDA came to a positive € 2.4 million, as the company, which operates in the school textbooks segment, recognizes a loss in the first part of the year due to the seasonal nature of the business: on a like-for-like basis, the Group recorded an improvement in profitability of € 1.3 million versus first quarter 2021, driven by the positive performance of the Books and Retail segments.

Group EBITDA came to € -0.7 million, or on a like-for-like basis to € +2.8 million: a comparison with the results of the prior year (€ 0.2 million) shows a clear improvement, thanks to the abovementioned business performance, and to the positive contribution from non-recurring items.

EBIT at 31 March 2022 stood at € -12.2 million (€ -6.6 million on a like-for-like basis). The comparison with 2021 shows:

  • an improvement of € 2.4 million on a like-for-like basis, due to the mentioned trends;
  • a deterioration of € 3.3 million in the overall scope, due to the consolidation of amortization and depreciation and the effects of the Purchase Price Allocation process from the acquisition of D Scuola.

The consolidated loss before tax amounted to € -14.4 million; on a like-for-like basis, the figure amounted to € -8.8 million, improving by 3 million versus € -12.1 million in the first three months of 2021.

Financial expense rose by € 0.3 million, due to the higher average gross debt recorded in the quarter following the acquisition of D Scuola.

The Group’s net result, after minority interests, amounted to € -11.4 million; on a like-for-like basis, the figure closes at € –7.1 million, a clear improvement versus € -10.2 million in the first three months of 2021. Mention should be made that in the first quarter of the year, the Group usually recognizes a net loss at a consolidated level, due to the seasonal nature of the Education business.

At 31 March 2022, the net financial position before IFRS 16 stood at € -135.8 million (€ -217.4 million including the IFRS 16 impact).

Excluding the effects of the acquisition of D Scuola, the net financial position before IFRS 16 stood at a positive € 9.6 million, improving significantly by over € 57.5 million versus the debt at 31 March 2021 (€ 47.9 million), attributable to the significant cash flow generation recorded in the last twelve months: including the impact of IFRS 16, the NFP stood at a negative € 69.9 million, due to the recognition of an additional financial payable of € 79.5 million.

The LTM cash flow from ordinary operations (after outlays for financial expense and tax), excluding D Scuola, amounted to € 68.9 million, allowing the Group to continue to strengthen its financial structure.

D Scuola, consolidated as from January 2022, reported a negative cash flow of € 13.3 million in the first quarter, in line with the seasonal nature of the school business which, in the first half of the year, records only the costs and expenditure for the development and publication of texts marketed in the second half.

The LTM Free Cash Flow at 31 March 2022 amounted to € 57.5 million, improving further versus the figure at 31 December 2021. Including the impact of the acquisition of D Scuola for approximately € 135 million, the Free Cash Flow of the overall scope recorded outlays of approximately € 88 million.

At 31 March 2022, Group employees amounted to 1,883 units, up by 2.4% versus 1,838 units at 31 March 2021 (+45 units), due primarily to the inclusion of D Scuola staff (totaling 127 units). On a like-for-like basis, therefore excluding both the contribution of the newly-consolidated company and the effects of the sale of the titles in the Media area in December 2021, the drop would come to approximately 2.3%, the result of the continued efforts to increase the efficiency of the individual business areas.

In light of the results achieved in the first few months and in the absence of any future material deterioration in the geopolitical context, for the full year 2022, the Group believes it can confirm the estimates previously disclosed, despite the critical issues arising from the increase in costs for the procurement of raw materials, primarily paper, and for energy consumption.

That said, the Group expects for:

  • Earnings: continued resilience of the business model
    – mid-single-digit growth of revenue;
    – Adjusted EBITDA up by more than 20%;
    – double-digit growth of the net result, thanks also to significantly lower non-recurring expense than the figure recorded in 2021, despite the fact that net profit in 2021 had benefited from a significant tax component[1] of approximately € 19 million.
  • Cash Flow and Net Financial Position: continued strong cash generation:
    – Cash Flow from ordinary operations: in line with 2021, as a result of the positive contribution from D Scuola, offsetting the “one-off” increase in Group capital expenditure, arising:
       – in the school segment, from the project to integrate D Scuola and from a stronger and richer product range and publishing catalogue in the school segment;
    – in the Retail area, from the plan on the relocation and renovation of the flagship store in Piazza Duomo in Milan, which will see conclusion in the final part of the year;
  • Free Cash Flow in the region of € 40/45 million (before payout of the dividend), which includes the expected cash outflows from extraordinary transactions announced;
  • Group net financial debt (IFRS 16) less than 1.1x Adjusted EBITDA (0.6x before IFRS 16).

The financial solidity reached allows the Group to continue its path of development, especially in the books business, also through M&As: therefore, the Group will continue to pursue its unwavering commitment, also in the current year, to further growth opportunities through acquisitions.



In first quarter 2022, after the remarkable growth seen in 2021, the books market witnessed a consolidation phase marked by a slight decline in sales (-1.6% in terms of value and -0.6% in terms of volume)[2] versus the same period last year.
Even if we exclude from the measurements those segments currently untapped by the Mondadori Group, i.e. professional and, most importantly, comics, which are continuing to see strong growth close to 50% this year, the market continued to remain moderately weak, dropping (in terms of value) by 2.3% versus 2021.

Group revenue in the Trade segment, which fell slightly, was affected, on the one hand, by this trend of the relevant market and, on the other, by the scheduling of the publishing plan, which envisages the release of the major titles in the second half of the year, closing at € 52.3 million, down by approximately 6% versus € 55.9 million in first quarter 2021, which had benefited from the extraordinary success of “Il sistema. Potere, politica, affari: storia segreta della magistratura italiana” by A. Sallusti and L. Palamara (Rizzoli).

Nonetheless, the Group confirmed its undisputed leadership with a market share of 23% in the Trade segment (including the share of De Agostini Libri, consolidated as from 1 April 2022).

With regard to the school textbooks segment, mention should be made that this is a highly seasonal business, so revenue generated in the first three months typically accounts for less than 5% of the annual figure. In first quarter 2022, the activities recorded total revenue of € 9 million: on a like-for-like basis net of D Scuola, revenue was basically steady versus the prior year (€ 4.9 million in first quarter 2021).

Overall, revenue in the Books area as a whole in the first three months of 2022 amounted to € 76.2 million, up by 6.5% versus € 71.6 million in the first three months of 2021, due mainly to the consolidation of D Scuola. On a like-for-like basis excluding the contribution of the recently-acquired company, growth stood at 0.7%, thanks in particular to the strong increase achieved by the publishing house, Rizzoli International Publications, and the upswing in Electa’s museum activities.

Adjusted EBITDA amounted to € -2.1 million, including the negative contribution of D Scuola, owing to the seasonal nature of the school textbooks business: net of these effects, adjusted EBITDA would stand at € 1.5 million versus € 0.6 million in first quarter 2021, improving by 0.8 million, pushed by the positive performance of the publishing house Rizzoli International Publications and the upswing in Electa’s museum business.


As indicated earlier, in the first three months of the year, the books market recorded a slight drop versus first quarter 2021 (-1.6%[3]): this trend had no adverse effect on the performance of the physical channel which, due also to the pandemic-related restrictions that had restrained its activities in 2021, reported a growth versus the same period of the prior year.

Against this backdrop, the market share of Mondadori Retail reached 10.8%, driven by the remarkable performance of physical stores, which benefited from a positive comparison with the prior year.

In the first quarter, the Retail area posted revenue of € 37.2 million, up by € 3.8 million (approximately +11.5%) versus € 33.4 million in the same period of the prior year.

The ongoing development and renovation of existing stores and the focus on the core business of books have enabled the Mondadori Store network to further consolidate its role in the market, as shown by the strong improvement in Books revenue (€ +3.5 million), which is higher at the end of the first quarter even than in the pre-COVID period.


  • directly-managed stores reported a sharp increase in revenue (+49.9% versus the prior year), due to the abovementioned strategy of focusing on the book product and network development activities;
  • the franchised channel too, composed mainly of proximity stores located in small towns, continued its progression, increasing by +3.2% versus the same period of the prior year;
  • the online channel declined, reflecting the market trend.

The Retail area recorded a positive and sharply growing adjusted EBITDA of € +0.3 million (€ +0.7 million versus the first three months of 2021). This target was achieved thanks to the strong growth in revenue, the deep transformation of the business unit as a whole, the ongoing renewal and development of the network of physical stores, as well as careful cost management and a thorough review of the organization and processes.


In first quarter 2022, the Media area recorded revenue of € 47.1 million, basically steady versus € 46.8 million in the same quarter of the prior year, but up by 9.2% on a like-for-like basis of portfolio of brands (excluding the effect of the deconsolidation of the titles sold at end 2021).


  • digital activities, which now account for 20% of the area’s total revenue, increased significantly by over 31% versus first quarter 2021 (+36.8% on a like-for-like basis of brands), driven by the strong performance of AdKaora.
    Digital advertising revenue as a percentage of total advertising revenue now represents 77% (up from 66% in first quarter 2021);
  • traditional print activities, excluding the magazines sold at end 2021, improved by 3.4%, thanks to the positive circulation performance of television titles, which bucked the market trend.

 Adjusted EBITDA in the Media area stood at € 2 million, steady versus the first three months of 2021 as a result of:

  • in the print area, the continuing measures to contain operating costs, which offset the increase in industrial costs;
  • in the digital area, growth in activities in the MarTech segment, despite the higher editorial and development costs incurred for the launch of the new social magazine “The Wom”.

The Board of Directors of Arnoldo Mondadori Editore S.p.A. approved the start of a share buyback program, under Article 5 of Regulation (EU) no. 596/2014, to be executed in accordance with the terms and conditions, already disclosed to the public, resolved by the Ordinary Shareholders’ Meeting of 28 April 2022 which, among other things, authorized:

  • the purchase and disposal of treasury shares for a maximum amount of up to 0.265% of the share capital, which is intended to provide the Company with the no. 693,878 shares required over the three-year period to meet the obligations under the 2022-2024 Performance Share Plan established by the same Shareholders’ Meeting, pursuant to Article 114-bis of the TUF;
  • the continuation of the buyback program to service the 2020-2022 Performance Share Plan and the 2021-2023 Performance Share Plan in the manners and within the limits set out in the relevant Regulations.

Pursuant to Delegated Regulation (EU) 2016/1052, details of the buyback program are shown below:

Purpose of the plan
The sole purpose of the program is the buyback of Arnoldo Mondadori Editore S.p.A. treasury shares to service the 2022-2023 Performance Share Plan, the 2021-2023 Performance Share Plan and the 2020-2022 Performance Share Plan.

Maximum amount in cash allocated to the program
Buybacks will be made at a minimum unit price not lower than the official Stock Exchange price on the day before the purchase transaction, reduced by 20%, and at a maximum unit price not higher than the official Stock Exchange price on the day before the purchase transaction, increased by 10%. The volumes and unit purchase prices will, however, be defined in accordance with the conditions governed by Article 3 of EU Delegated Regulation 2016/1052. Specifically, no shares may be purchased at a price higher than the higher between the price of the last independent trade and the price of the highest current independent bid on the trading venue where the purchase is carried out. In terms of volumes, daily purchase amounts will not exceed 25% of the daily average volume of Mondadori shares traded over the 20 trading days before the dates of purchase.

Maximum number of shares to purchase
Purchases will regard a maximum of no. 410,000 ordinary shares (equal to 0.156%) of the share capital, taking account of the treasury shares already held in the Company’s portfolio, to service the 2022-2024 Performance Share Plan, the 2021-2023 Performance Share Plan and the 2020-2022 Performance Share Plan, in the manners and within the limits set out in the relevant Regulations.
The maximum total amount of shares under the program is therefore within the limits of 10% of the share capital indicated by the Shareholders’ Meeting of 28 April 2022, taking account also of the no. 1,049,838 treasury shares, equal to 0.402% of the share capital, already held by the Company.

Duration of the program
The buyback program runs from 12 May 2022 and will end by the Shareholders’ Meeting to approve the financial statements for the year ending 31 December 2022, which coincides with the expiration of the authorization to purchase treasury shares approved by the Shareholders’ Meeting on 28 April 2022.
The buyback program may be renewed upon further authorization by the shareholders.

Buyback procedures
The buyback program will be coordinated and executed by an authorized intermediary, who will make the purchases independently, with no influence from Arnoldo Mondadori Editore S.p.A. as regards the timing of the purchases.

Buybacks will be made pursuant to the combined provisions of Article 132 of Legislative Decree no. 58/1998 and of Article 5 of Regulation (EU) 596/2014, Article 144-bis of the Issuer Regulation, and the EU and national legislation on market abuse (including Delegated Regulation (EU) 2016/1052), in accordance with the resolutions of the above Shareholders’ Meeting of 28 April 2022.

Any subsequent changes to the buyback program will be promptly disclosed by the Company.
The transactions made will be disclosed to the market in the manners and within the time limits of applicable law.

For information on the above Performance Share Plans, reference should be made to the information documents prepared pursuant to Article 114-bis of Legislative Decree no. 58/1998 and to Article 84-bis of CONSOB Regulation no. 1197/1999 and available on the website www.gruppomondadori.it (Governance section) and at the authorized storage mechanism 1Info (www.1Info.it).

The Board of Directors, having heard the Remuneration Committee, resolved on the assignments to the beneficiaries of the rights relating to the 2022-2024 Performance Share Plan, established by resolution of the Shareholders’ Meeting of 28 April 2022.
Information regarding the beneficiaries and the number of rights assigned are shown – by name, for the beneficiaries who are members of the Board of Directors, and in aggregate form for the other beneficiaries – in the table attached, prepared in compliance with Box 1, Schedule no. 7 of Annex 3A of the Issuer Regulation.
The terms and conditions of the Plan are set out in the Directors’ Explanatory Report to the Shareholders’ Meeting of 28 April 2022 and in the Information Document prepared pursuant to Article 84-bis, paragraph 1 of the Issuer Regulation, available on the website www.gruppomondadori.it Governance section and on the storage mechanism www.1info.it to the contents of which reference should be made.


Arnoldo Mondadori Editore S.p.A. informs that the minutes of the Ordinary Shareholders’ Meeting held on 28 April 2022 are available on the authorized storage mechanism 1Info (www.1info.it), in the Governance section of the Company website www.gruppomondadori.it and at the Company’s registered office.

The Interim Management Statement at 31 March 2022 will be made available today on the authorized storage mechanism 1Info (www.1Info.it), in the Investors section of the Company website www.gruppomondadori.it and at the Company’s registered office.

The presentation of the results at 31 March 2022, approved today by the Board of Directors is available, on 1Info (www.1info.it), on www.borsaitaliana.it and on www.gruppomondadori.it (Investors section). A Q&A session will be held in conference call mode at 4.30 pm for the financial community, attended by the CEO of the Mondadori Group, Antonio Porro, and the CFO, Alessandro Franzosi. Journalists will be able to follow the meeting in listening mode only, by connecting to the following phone number +39.02.8020927 or via web at: https://hditalia.choruscall.com/?calltype=2.

 The Financial Reporting Manager – Alessandro Franzosi – hereby declares, pursuant to Article 154 bis, paragraph 2, of the Consolidated Finance Law, that the accounting information contained herein corresponds to the Company’s records, books and accounting entries.


Annexes (in the complete pdf):

  1. Consolidated balance sheet;
  2. Consolidated income statement;
  3. Group cash flow;
  4. Glossary of terms and alternative performance measures used;
  5. Information pursuant to Schedule 7 of Annex 3a to CONSOB Regulation no. 11971/1999.

[1] Derived from the tax realignment of intangible assets.

[2] GFK, March 2022

[3] GFK (in terms of value)

Mondadori Group: conclusion of the acquisition of 50% of A.L.I. – Agenzia Libraria International

The Mondadori Group announces the conclusion today, through its subsidiary Mondadori Libri S.p.A., of the acquisition of 50% of A.L.I. S.r.l. – Agenzia Libraria International, a company operating in the distribution of books and boasting a client portfolio of over 80 publishers. The transaction takes place in execution of the agreement signed and disclosed to the market last 11 November 2021.

Thanks to this acquisition, the Mondadori Group takes a further step along the path of increasing focus on the books market, through a process of vertical integration that allows the Group to strengthen its position in the promotion and distribution of third-party publishers, with a view to continually improving the service level and expanding the customer portfolio.

As already disclosed, the scope of the transaction includes a number of subsidiaries operating in the publishing field.
The acquisition price, paid in cash on today’s date, is € 10.8 million.

The 50% stake in A.L.I. will be consolidated at equity effective as from 1 May 2022.

The final agreements envisage the acquisition by the Mondadori Group of a further 25% stake in A.L.I., effective as from 28 February 2023, at a price to be set based on average EBITDA 2021-2022. As from 1 March 2023, the company will be then fully consolidated.

The deal also governs the subscription of put&call options, which give Mondadori the right to acquire the remaining 25% of A.L.I. by 30 July 2025 at a price to be set based on average EBITDA 2023-2024.

The members of the Belloni family, the founders of A.L.I., will keep their roles of responsibility in the operational management of the company.

The closing of the acquisition follows the authorization by the competent Antitrust Authority, disclosed on 7 March 2022.

Mention should be made that the 2022 guidance (in particular the estimated Free Cash Flow), disclosed on 16 March, included the financial effects of the above transaction.



5,000 teachers respond to the Mondadori Group survey on sustainability issues

Diversity, equality and inclusion are the priority for 61% of teachers

In second place “promotion of reading and socio-cultural growth” (54.3%).
Third, “management of environmental impacts” (51.9%)

Which sustainability issues do teachers consider of greatest relevance to respond to the expectations of the world of school?

The Mondadori Group, Italy’s leading publisher of school textbooks with the Mondadori Education, Rizzoli Education and D Scuola publishing houses, put the question in an online questionnaire to approximately 5,000 teachers in primary schools (27%), junior high schools (28%) and senior high schools (45%) all over Italy.

The survey – which collected the opinions of educators – is part of the listening and stakeholder engagement activities promoted by the Group for its consolidated Non-Financial Disclosure.

The contributions from the teachers were taken into consideration during the drafting of the Group’s first Sustainability Plan: a project that identifies the areas and guidelines on which the Segrate-based Group will work in the future, with short- and medium-term objectives, to improve its social, governance and environmental performance. The Plan reflects the Group identity, mission and role as a publisher in society.

“Teachers are fundamental interlocutors for the Mondadori Group, which has always supported the spread of equitable and inclusive quality education, offering opportunities for reading and growth, entertainment and learning,” said Gian Luca Pulvirenti, CEO Mondadori Libri area Education. “Through our publishing houses, we support teachers, from primary schools to universities, with innovative, accessible content and teaching aids designed to contribute to the growth of the new generations; this is why we think that listening to the needs and expectations of the protagonists of our schools is a valuable opportunity for us to enhance and pursue the strategic and sustainable development of our activities,” added Pulvirenti.

The results of the survey

  • 2% of the teachers who responded to the questionnaire said that “diversity, equity and inclusion” was a priority issue in meeting the expectations of the world of school;
  • in second place was “promotion of reading and socio-cultural growth” (54.3%) through local action and educational initiatives in bookstores and schools;
  • of the 15 issues suggested, third place was taken by “management of environmental impacts” (51.9%).

The survey also highlighted the United Nations Sustainable Development Goals (Agenda 2030) teachers consider of greatest importance, to be valorised in schools today:

  • for more than 40% of the interviewees, guaranteeing inclusive and equitable quality education and promoting lifelong learning opportunities for all (SDG 4) is the priority goal;
  • this is followed by action to combat climate change (SDG 13), for almost one teacher in three.

Many responses underlined the areas of schooling to which greatest attention should be paid in the future:

  • more than one teacher in two (51.1%) indicated the need to adopt innovative teaching practices, in the interests of inclusivity;
  • 7% of the respondents said it was important to have a specific education offer on sustainability issues and the Agenda 2030 for Sustainable Development;
  • 8% focused attention on initiatives to engage young people in civil society and the introduction of civic education;
  • other areas of great interest are action to combat early school-leaving and promotion of initiatives to foster gender equality.

The initiatives of our publishing houses
These questions are examined on a daily basis not only through the content of school textbooks, but also through initiatives organised by the Mondadori Group for teachers and students, such as the launch of the Manifesto for gender equality and plurality by Rizzoli Education, the “#Leparolechesiamo, la scuola che vogliamo” project of Mondadori Education and the “La scuola è” Festival of D Scuola, for teacher training and the whole school community.
The Group also offers innovative tools, including: HUB Scuola, the integrated digital teaching platform of Mondadori Education and Rizzoli Education, with inclusive content for management of all educational needs; the many resources and activities of the Deascuola platform, including the brand new Deaflix inclusive learning service for all the basic topics of the main school subjects; on-going development of innovative user assistance services.

Shareholders’ Meeting approves the 2021 financial statements

Resolution on the distribution of a dividend of € 0.085 per ordinary share

Today, the Shareholders’ Meeting of Arnoldo Mondadori Editore S.p.A., chaired by Marina Berlusconi, approved the financial statements for the year ended 31 December 2021.

The Group’s Chief Executive Officer, Antonio Porro, presented the key figures for the year, as disclosed to the market last 16 March.
Specifically, the net profit, after minority interests, amounted to € 44.2 million, up sharply versus € 4.5 million in 2020.

Today’s Shareholders’ Meeting, in accordance with the proposal of the Board of Directors of 16 March 2022, which has already been the subject of disclosure, resolved to distribute a unit dividend of € 0.085 for each ordinary share (net of treasury shares) outstanding at the record date, for a total of approximately € 22.1 million[1] which corresponds to a pay-out of 50% of the consolidated net profit and a dividend yield equal to 4.2% (at 31 December 2021).
The dividend will be paid, in accordance with the provisions of the “Regulation of the markets organized and managed by Borsa Italiana S.p.A.”, from 25 May 2022 (payment date), with ex-coupon (no. 21) date on 23 May 2022, and with the date of entitlement to payment of the dividend, pursuant to Article 83-terdecies of the TUF (record date), on 24 May 2022.

The Shareholders’ Meeting resolved also on the following additional items on the agenda:

Report on remuneration policy and compensation paid
Pursuant to Article 123-ter of Legislative Decree no. 58/1998, the Shareholders’ Meeting, by means of a binding resolution, approved Section One of the Report on Remuneration Policy and Compensation Paid. The Shareholders’ Meeting also voted in favour of Section Two of the Report.

Renewal of the authorization to purchase and dispose of treasury shares
Following expiry of the term relating to the previous authorization resolved on 27 April 2021, the Shareholders’ Meeting renewed the authorization to purchase and dispose of treasury shares with the aim of retaining for the Board of Directors the applicability of law provisions in the matter of any additional purchase plans and, consequently, of seizing any investment and operational opportunities involving treasury shares.
To date, Arnoldo Mondadori Editore S.p.A. holds a total of no. 1,049,838 treasury shares, equal to 0.402% of the share capital.
Here below is the information provided on the authorization issued by the Meeting, also with reference to the provisions of Article 144-bis of the Issuer Regulation no. 11971/1999:

  • Motivations
    The motivations underlying the request for the authorization to purchase and dispose of treasury shares refer to the opportunity to attribute to the Board of Directors the power:
    – use the Treasury Shares purchased or already in the Company portfolio as compensation for the acquisition of interests within the framework of the Company’s investments;
    – use the treasury shares purchased or already held in portfolio against the exercise of option rights, including conversion rights, deriving from financial instruments issued by the Company, its subsidiaries or third parties and to use the treasury shares for lending, exchange or transfer transactions or to support extraordinary transactions on the Company’s capital or financing transactions that imply the transfer or sale of treasury shares;
    – to undertake any investments, directly or through intermediaries, including for the purpose of containing abnormal movements in share prices, stabilizing share trading and prices, supporting the liquidity of the share on the market, in order to foster  the regular conduct of trading beyond normal fluctuations related to market performance, without prejudice in any case to compliance with applicable statutory provisions;
    – to rely on investment or divestment opportunities, if considered strategic by the Company, also in relation to available liquidity;
    – to dispose of treasury shares as part of share-based incentive plans pursuant to Article 114-bis of the TUF, and of plans for the free allocation of shares to employees or members of the governing or supervisory bodies of the Company or to Shareholders.
  • Duration
    The authorization to purchase treasury shares is set to last until the approval of the financial statements for the year ending 31 December 2022 and, in any case, for a period not exceeding 18 months after the Shareholders’ Meeting resolution, while the authorization to sell is granted to last for an unlimited period, given the absence of provisions in this regard pursuant to the provisions in force and the opportunity to allow the Board of Directors to make use of the maximum flexibility, also in terms of time, to carry out the acts of disposal of the shares.
  • Maximum number of purchasable treasury shares
    The authorization allows the purchase, including in more than one tranche, of ordinary shares of Arnoldo Mondadori Editore S.p.A., with a par value of € 0.26 each, in one or more tranches in an amount freely determinable by the Board of Directors – up to a maximum number of shares – also taking into account the ordinary shares held, directly and indirectly, in the portfolio from time to time – of no more than 10% overall of the share capital.
  • Criteria for purchasing Treasury Shares and indication of the minimum and maximum purchasing cap
    Purchases shall be made in compliance with Articles 132 of the TUF and 144-bis, paragraph 1 letter b) of the Issuer Regulation, and on regulated markets or multilateral trading systems, according to the operating criteria established in the organization and management regulations of the same markets, which do not allow the direct matching of buy orders against predetermined sell orders, and also in compliance with any other applicable law, including EU law. Additionally, share purchase transactions may also be carried out in the manner envisaged in Article 3 of EU Delegated Regulation no. 2016/1052 in order to benefit, if the conditions are met, from the exemption under Article 5, paragraph 1, of EU Regulation no. 596/2014 on market abuse with regard to inside information and market manipulation.
    Regarding the disposal of treasury shares, disposals may be made, on one or more occasions and even before having terminated the maximum number of purchasable treasury shares, either by selling them on regulated markets or according to other trading methods in compliance with the law, including EU law, in force and with the Admitted Market Practices, if applicable.
    Under the proposed authorization, the minimum and maximum purchase price shall be determined at a unit price not lower than the official Stock Exchange price of Mondadori shares on the day preceding the purchase transaction, reduced by 20%, and not higher than the official Stock Exchange price on the day preceding the purchase transaction, increased by 10%.
    In any event – except for any different price and volume determinations resulting from the application of the conditions set forth in the Admitted Market Practices – such price shall be identified in accordance with the trading conditions set forth in Delegated Regulation (EU) no. 1052 of 8 March 2016.
    In terms of consideration, sales transactions or other acts of disposition of treasury shares shall be carried out:
    – if executed in cash, at a price no lower than 10% of the reference price recorded on the MTA – Euronext Milan – organized and managed by Borsa Italiana S.p.A. in the trading session prior to each single transaction;
    – if executed as part of any extraordinary transactions in accordance with financial terms to be determined by the Board of Directors on the basis of the nature and characteristics of the transaction, also taking account of the market performance of Mondadori shares;
    – if executed to service the Performance Share Plans adopted by the Company in compliance with the terms and conditions set out in the resolutions of the Shareholders’ Meeting that establish the Plans and the related regulations.

2022-2024 Performance Share Plan
The Shareholders’ Meeting, pursuant to Article 114-bis of Legislative Decree 58/1998 and in keeping with the introduction of performance share plans approved in the past for the medium/long-term remuneration of executive directors and key management personnel, approved the adoption of a Performance Share Plan for the three-year period 2022-2024 intended for the Chief Executive Officer, the CFO – Executive Director and a number of managers of the Company who have an employment and/or directorship relationship with the Company or its subsidiaries at the date of allocation of the shares.
For a detailed description of the 2022-2024 Performance Share Plan, the beneficiaries and the main characteristics of the Regulation of the Plan, reference should be made to the Information Document pursuant to Article 84 bis of CONSOB Issuer Regulation no. 11971/1999, and the explanatory report of the Board of Directors, available on the Company website www.mondadorigroup.com, Governance/Shareholders’ Meeting section and on the authorized storage mechanism 1Info (www.1Info.it).

[1] Rough estimate based on the number of shares outstanding to date.

Icon presents “Rebel rebel”, the new issue for people stepping out of the mainstream to build a better future

Starting this month, the magazine offers an exclusive column by celebrated artist Maurizio Cattelan

Icon, the Mondadori Group’s fashion and lifestyle brand for men, is launching its latest issue, “Rebel rebel”, on newsstands as from tomorrow.

A special issue that the magazine edited by Andrea Tenerani devotes to rebels, people who step out of the mainstream to open up new roads, imagine possible new worlds and build a better future.

Icon has chosen five faces for the cover story of the May issue.
Actor Vincent Cassel, whose frequent roles as a rebel have made him an international movie star, confides, in an exclusive conversation with Icon: «The real rebels are people who lead their lives thinking for themselves and saying what they think, even when they know what they say could get them into trouble. Today very few people can afford to do that».

Next up is Liam Gallagher, founder and frontman of Oasis, the archetypal band of the 1990s. «You can tell I’m a born revolutionary just by looking at me. My style is basic, a mixture of casual and outdoor, but I’m more of a trendsetter than all of my colleagues put together,» he tells Icon.

Another cover protagonist is actor Thomas Brodie-Sangster. After appearing in the romcom Love Actually when he was 13 and in 2020’s most viewed TV series, The Queen’s Gambit, at the age of 30, he will be playing one of the most controversial figures in the British pop industry, Sex Pistols’ manager Malcolm McLaren, in the series Pistol, from Oscar-winning director Danny Boyle. The Sex Pistols’ take on rebellion was an inspiration for this issue of Icon and will also be narrated by legendary bass player Glen Matlock, one of the band’s founding members.

Finally, the cover features actor Luis Partridge, who joined Thomas Brodie-Sangster on the Pistol set, and footballer Rafael Leão, whose age and cheerful flamboyance at every match mark him out as one of the top premier league talents of the future.

Starting this month, Icon will also offer an exclusive new column, “In a nutshell”, where contemporary art star Maurizio Cattelan, will tell readers about his favourite artists. A feature with which Icon once again extends its reporting from fashion to art, culture and society to offer its community of readers an ever wider selection of detailed investigations into the passions of the modern man.

Those featured in the May issue also include Wet Leg, an ironic British rock duo, who in the wake of their extraordinary first single, have just released their eagerly awaited debut album, and rebel Michelle Ngonmo, the visionary founder of AfroFashion Week, who is fighting for inclusion in the world of fashion. Also not to be missed are the conversation with Robert Stickgold, a full professor of psychiatry at the Harvard Medical School, who will tell Icon readers why we dream, and, in the Destination Future section, an essay by Ester Viola on why author J.K. Rowling can be considered a rebel.

The stories of individuals who have made a difference by going outside the mainstream will also appear on the Icon.it website and on the brand’s social media, with exclusive interviews with people who have achieved success by following alternative routes. In addition, the magazine has in-depth features and reports on style, the latest trends and a special section on the passions of the contemporary man, ranging from grooming to beverages, from travel to motorcycles.

Art: Marisa Rastellini’s “gracious eye” at MIA Fair

In the prestigious photography show in Milan, Mondadori Portfolio celebrates its tenth anniversary with an exhibition of the work of a refined photographer who immortalised great actors and key figures on the Italian literary and cultural scene

The extraordinary shots of Marisa Rastellini, a refined photographer who worked for Grazia and Epoca magazines from the ’sixties until the end of the ’eighties, will be exhibited to the general public for the first time by Mondadori Portfolio, the Mondadori Group’s photo agency.

During MIA Fair – Milan Image Art Fair, Italy’s most important photography show, scheduled for 28 April through 1 May at SUPERSTUDIO MAXI in Milan, Mondadori Portfolio will celebrate its tenth anniversary with the presentation of an exhibition of the Roman photographer’s work entitled “Uno sguardo gentile, fotografie di Marisa Rastellini”: “A gracious eye: the photographs of Marisa Rastellini”.

Following lengthy, meticulous research in the Mondadori archives, the photographer’s works will finally be on public view in an exhibition ideally documenting the spirit of her times, perfectly represented in her portraits of actors and key figures in Italy’s literary and cultural scene, as well as her numerous fashion shoots.

Curated by Maria Vittoria Baravelli in collaboration with Mondadori Portfolio, the exhibition reconstructs the world of Marisa Rastellini, portraying a shy, delicate artist whose lens immortalised great Italian intellectuals such as Pier Paolo Pasolini, Elsa Morante, Virna Lisi, and Monica Vitti, as well as Marcello Mastroianni, Federico Fellini, Valentino Garavani.

“In this exhibition and event,” points out Mondadori Portfolio Executive Manager Elisabetta De Simone, “we celebrate our first ten years, an important decade during which, through reclamation of prints, original negatives, colour photos and slides kept in the publisher’s vast historic archives, we have brought back to light such famous names as Mario De Biasi, Giorgio Lotti, Angelo Cozzi, Sergio De Grande and many more photographers who have told the history of Italy in their photographs over the past 60 years”.

“The archives are like maps to sail by, lands to be explored,” comments exhibition curator Maria Vittoria Baravelli. “At a time when the digital is taking over in all kinds of contexts, the archives are still set in solid reality, in the form of envelopes, contact sheets, drawers and negatives. This is why it is so important to rediscover Marisa Rastellini: a photographer in the Rome of the ‘60s that we know very little about. All we know is that she was very discrete and gracious, incredibly shy and yet so profound in recording the faces and lifestyles of late twentieth-century Italy in her work. More than 50 years later, Marisa Rastellini’s photographs come out of their envelopes and into the light again. We look at them, and in return they tell us who we were and who we still are today, with certain differences”.

Established in 2012 to draw on the iconographic heritage of Mondadori magazines, the agency has been expanded over time with the addition of prestigious collections, a team of contemporary photographers, and a range of services appropriate for today’s trendiest forms of communication.

In a tribute to this decade of work, Mondadori Portfolio goes back to its archives, where it all began, for the exhibition “Uno sguardo gentile, fotografie di Marisa Rastellini”, renewing its commitment to rediscovery and promotion of a photographic heritage unknown to the general public.

The exhibition “Uno sguardo gentile, fotografie di Marisa Rastellini” (“A gracious eye: the photographs of Marisa Rastellini”) is produced with the support of Cassina and Flos, representatives of the excellence of Italian design all over the world, who enrich the exhibition with a number of iconic items of design.

Grazia USA nominated for 2022 Webby Awards in the “Best Website & Mobiles Site” category

The graziamagazine.com platform has been called a real revelation by the International Academy of Digital Arts and Sciences

Grazia USA, the American edition of Grazia, launched as a result of the licensing agreement entered into by the Mondadori Group with Pantheon Media Group LLC, is in the running to win the title of “Best Website & Mobiles Site” in the Fashion and Beauty category of the 2022 Webby Awards.

The International Academy of Digital Arts and Sciences (IADAS) announced the nomination, the committee promoting the prestigious award, made up of the most pre-eminent experts in the digital and technology industry in the USA. At the 26th edition of the Webby Awards – whose winners, announced on Tuesday, 26 April, will receive the award on Monday, 16 May at the historic Cipriani Wall Street in New York – in addition, Grazia USA can boast a double honourable mention in the Websites & Mobile Sites categories – Best Visual Design – Aesthetic and Social – Fashion and Beauty.

A result that further consolidates the success of the first 100% Italian fashion brand in one of the largest and most important countries in the world for fashion and luxury goods.

“We are thrilled that Grazia USA has received a nomination at the Webby Awards: a prestigious award, which, just over a year after its launch, confirms the strength and vitality of our brand in an important market such as the US, contributing not only to consolidating the positioning of Grazia in the fashion and luxury markets, but also to strengthening the founding values of its DNA”, said Daniela Sola, Managing Director International Business of Mondadori Media.

“We are honoured that the Academy has selected Grazia USA in the very first year of operation, not only as a media brand, but also as a contemporary reality alongside consolidated and well-established brands with great traditions”, underlined Melissa Cronin, President and Chief Operating Officer of Pantheon Media Group.

“This year’s nominees are really engaged in the evolution of digital culture and society in the most diverse categories: Websites & Mobile Sites, Video, Advertising, Media & PR, Apps & Software, Virtual & Remote, Podcasts, Social and Video Games”, says the International Academy of Digital Arts and Sciences. “Ultimately, they represent an incredibly stimulating mix of well-established brands on the web and independent projects, but also celebrities and viral phenomena. Of the more than 14,000 entries received from the 50 American states and more than 70 foreign countries, the best ones selected – totalling 12% – will have the chance to win a Webby Award”.

Voting for the 2022 Webby People’s Voice Awards – a parallel edition which allows the public to express their preferences in the same categories reviewed by the experts – will remain open until 11.59 am on Thursday, 21 April. To support Grazia USA in the Fashion & Beauty category, click here .

 Grazia is the first 100% Italian fashion magazine to have exported its successful formula all over the world, from Italy to the United States. The Mondadori Group brand, which today has 21 editions in a total of 23 countries, reaches a global audience of 15 million readers and 45 million unique users, with over 30 million followers on social media.
Present on the American market with the first global digital platform graziamagazine.com, Grazia USA has already received coveted recognition as “Best New Magazine Launch 2021”, awarded based on the brand’s demonstrated ability to combine quality content and unmistakable and up-scale style, consisting of fashion, art, culture and beauty, but also travel, design and entertainment.


AdKaora launches “In-gaming advertising: communicating is brand’s play” white paper

The Observatory on changes taking place in markets and with consumers of AdKaora, the Mondadori Group digital agency specialising in user-centric mobile advertising and proximity marketing, published new research called  “In-gaming advertising: communicating is brand’s play”   that analyses the impact of the evolution of gaming on communication and online advertising.

Already extremely popular before the pandemic, over the past two years, video games have also proven to exert huge appeal to new audiences, including women, families and seniors, as well as the younger generations. A fact that has aroused immense curiosity in marketers regarding the new categories and their usage habits.

From the research conducted by AdKaora it emerges how – in a period of poor human interaction, where relationships have been mostly cultivated through technology – video games, digital activities at zero risk, have proved to be a valuable source for linking people, as well as a tool for escaping from reality and counteracting the boredom of spending entire days at home. A phenomenon which has consolidated into a real trend, and the numbers confirm that it is here to stay.

The objective of the study was to investigate the evolution of gaming and player profiles, to understand how brands can reach and interface with them in a more effective and significant way, not only thanks to market knowledge, but also to consumer habits and behaviour.

By using in-gaming advertising it is, in fact, possible to exploit the extremely high attention of users by inserting native advertisements within the game itself, to influence the graphics and/or audio of the gameplay without interrupting the user experience.

Here are the key findings that emerge from the study – here the full version is available for consultation:

  •  Gamer. Who are you calling that?
    What happened to the player with glasses, Super Mario t-shirt and trainers on his feet? He no longer exists, or rather, the “archetypal” gamer profile no longer exists. Asking why people play and not what they are playing, is, therefore, the key to gaining a better understanding of this target and intercepting their needs, for developing direct and effective communication. Moreover, also in Italy, the gap between men and women has been progressively closed, as well as the difference between the age groups involved.
  • Gaming is mostly mobile
    In addition to browsing, chatting and enjoying content, consumers are increasingly accustomed to playing on the go. Many games for mobile devices have low access levels: i.e., they are based on “familiar” genres such as puzzles, card games or betting, which can be played anywhere. According to a study conducted by IIDEA – Italian Interactive Digital Entertainment Association -, in Italy, gamers devote 8 hours a week to the game, 5 of which using a smartphone at various times of the day. A figure for which it is reasonable to predict that the number of players playing on mobile devices may increase even more during 2022.
  • How to reach the gamers target?
    In-gaming advertising has – probably more than any other industry – a variety of emerging advertising formats that behave very differently from media in other channels. Thanks to immersive creativity inserted within the game dynamics in a native and realistic way, it is possible to create a positive association with the brand without interrupting the user experience, increasing awareness and enhancing brand recall.
  • Communication opportunities
    A successful in-gaming advertising campaign enables a high brand recall rate: there are high chances for a gamer – mentally very receptive during the gaming experience – to recall the advertising messages that have been incorporated or, at least, the product in question. For brands, therefore, extremely interesting communication opportunities will open up, enabling them to take advantage of very precise profiling and thus build significant content experiences both inside and outside the game in a safe environment, considered by the user as R & R time during the day.