The digital content market in Italy is entering a new phase of maturity. The era of unchecked expansion has given way to consolidation, competition for users’ time and the redefinition of monetisation models. This is one of the key insights emerging from the closing event of the 2025 edition of the Observatory Digital Content at the Politecnico di Milano, of which GMDE is a partner. The research provides a snapshot of the state of the art in digital news publishing, online newspapers and eBooks, with an in-depth analysis of consumption trends, market value and the impact of Artificial Intelligence.
In 2025, the overall digital content market is approaching €4 billion, marking a +3% increase compared to the previous year. A positive figure, yet one that confirms a gradual slowdown in growth rates: +8% in 2023, +6% in 2024 and +4% in 2025 (excluding the gaming effect). The sector continues to grow, but according to more mature and selective dynamics.
Digital news: moderate growth, yet signs of resilience
In 2025, the digital news and eBook segment reaches a total value of €188 million, with growth of +3%. Of this, 55% is attributable to digital news and 45% to eBooks. Notably, digital news records a +7% increase, demonstrating resilience in an increasingly competitive environment.
However, the sustainability of the model remains the central issue. On the advertising front, 2025 sees a -4% decline in revenue for the publishing sector, partly due to changing consumption habits. The use of generative AI tools and AI Overview features, which summarise content directly within search engines, has in some cases reduced direct traffic to publishers’ websites.
At the same time, direct consumer spending on digital news is gradually increasing. This signals a growing willingness to recognise the value of premium content, particularly when it is perceived as high-quality, reliable and authoritative.
eBooks: a mature yet stable market
The eBook market stands at approximately €85 million, remaining broadly stable. Single purchases continue to be the predominant model, while subscription-based formats are growing but still marginal. Digital formats are now perceived as a structural alternative to print — a conscious choice rather than merely a complementary one.
For publishers, this means the opportunity to develop integrated physical and digital models, leveraging catalogue depth, serial content and vertical specialisation within a complementary strategy.
Video and audio: the competitive landscape
While publishing follows a path of consolidation, the video segment remains the main driver of value within the digital market. In 2025 it grows by +3%, yet shows clear signs of saturation: 72% of users believe there are too many subscription platforms, and 65% report having cancelled at least one service. This “subscription fatigue” is prompting a review of business models, with significant growth in hybrid ad-supported formats and FAST channels. Video advertising revenue is increasing at a double-digit rate (+13%), reaching around €1 billion and progressively rebalancing the weight between advertising and subscriptions.
The audio sector (audiobooks, music and podcasts) also shows promising signals. In 2025 it reaches a total value of €374 million, with growth of +8%. The internal distribution is highly concentrated: 13% audiobooks, 80% music and 1% podcasts. Music grows by +9%, reaching €322 million, confirming its role as the sector’s primary engine. On the advertising side, audio records +8% growth, driven by digital audio advertising and new hybrid — including video — consumption formats.
Podcasts continue to generate interest and engagement, yet remain a segment where monetisation is still complex and fragmented, both in terms of metrics and revenue attribution.
The real competitive arena: the relationship with the user
The clearest message emerging from the research is that competition today is no longer solely about content, but about the relationship with the user. In a crowded marketplace, differentiation lies in the ability to personalise the experience, the effectiveness of recommendation algorithms, the flexibility of subscription models and the management of customer churn.
For publishers, this means investing not only in high-quality content production but also in building an integrated digital ecosystem capable of managing data, profiling, multichannel distribution and performance analysis.
Artificial Intelligence: threat or opportunity for publishers?
Artificial Intelligence represents the sector’s most transformative factor (read the news). It is no longer an experimental technology but one that concretely impacts editorial processes and distribution dynamics.
On the one hand, AI enables optimisation of production workflows, faster time-to-market, multi-format content generation and improved accessibility. On the other, it reshapes discovery mechanisms and traffic flows, redefining the relationship between search engines, platforms and publishers’ websites.
More than half of users report having no reservations about AI-generated content, particularly among younger generations. However, when it comes to willingness to pay, AI-generated content is still often perceived as less valuable than content created exclusively by humans — a cultural tension likely to evolve over time.
For publishers, AI is not merely an operational tool but a strategic asset to be governed with balance, integrating technological innovation with the protection of editorial value.
Piracy and system sustainability
Piracy remains a central issue, significantly impacting the entire digital content ecosystem. Despite regulatory and technological progress, the phenomenon continues to erode value, particularly within audiovisual segments. For publishers, combating piracy is closely linked to strengthening the perceived value of professional content, especially among younger audiences.
A mature scenario, yet rich in opportunities
The digital content market in Italy is now more selective, more demanding and more competitive. Growth is no longer automatic; it is the result of targeted strategies, technological innovation and the ability to build strong relationships with audiences.
For publishers, this phase represents both a challenge and a concrete opportunity: investing in advanced digital models, integrating Artificial Intelligence into production processes and reinforcing the centrality of data in order to build a sustainable system over the long term.
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