Rome’s 2012 film festival closed on the negative side of the economy. Part of the fail was due to weak ticket sales and minimal sponsor support. President Paolo Ferrari released a statement recently stating that the festival ended in the black. Ferrari has had very small success since he came to Rome eight years ago.

ROME – The parent organization of the International Rome Film Festival finished last year in the black, according to a statement released Friday by its president,Paolo Ferrari, contradicting recent reports indicating that it had a significant budget shortfall due to weak festival ticket sales and sponsor support, along with cost overruns.

Ferrari, who came to the eight-year-old Rome festival along with former Venice artistic director Marco Mueller last year, did not state how much of a profit the Fondazione Cinema per Roma made in 2012, saying that the event’s financial statement had yet to be approved by the board. But he said, “commitments … and scrupulous control over production costs of the International Rome Film festival … have made it possible for the Fondazione Cinema per Roma to close the year 2012 with a positive business performance.”

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