Spain’s television landscape is thriving thanks to a surge in local fictional productions, primarily driven by streaming services—more so than in any other European nation. The market is continuously evolving as various stakeholders experiment with innovative strategies to finance, premiere, and sustain successful shows.
In 2024, global streaming platforms invested €2 billion ($2.2 billion) into original Spanish content, which ranks just below the U.K.’s investment of €2.9 billion ($3.1 billion), and significantly exceeds that of France and Germany (€860 million each) and Italy (€750 million), as reported by the European Audiovisual Observatory.
Approximately 70% of Spain’s total expenditures on content come from streaming services, in stark contrast to only 24% in France. This dynamic underscores the current framework of the industry. Nevertheless, many of Spain’s most popular series still originate from traditional broadcasters. Diagonal TV’s “Sueños de libertad,” which is Atresmedia’s flagship daily soap, has recently secured sales to Latin America via HBO Max, along with RTVE-Bambú’s Emmy-winning telenovela, “The Vow.”
The financial landscape increasingly depends on streaming platforms, whose significance makes them essential collaborators on most upcoming projects.
“Today, launching a series without a platform’s involvement is virtually impossible,” states Ghislain Barrois, CEO of Mediterráneo Mediaset España Group and Telecinco Cinema. “Production costs are high and the demands on talent and crew are intense. While platforms provide crucial support, they also alter the industry’s rules.”
Barrois continues, “We are producing fewer shows to allocate more resources towards marketing. The real challenge lies not in creating content but in distinguishing it in an overcrowded marketplace.” Sueños de libertad, attracting 1.3 million viewers daily on Antena 3, exemplifies the increasing interest among streamers for daily serials. This series is not only a dominant force during Spanish afternoon television but is also accessible via Atresplayer, Movistar Plus+, and Disney+.
“Our 360-degree approach to fiction allows for a more extended and profitable journey for the series,” notes Montse García, head of fiction at Atresmedia. “Free-to-air content retains its audience, and that loyalty is exceptionally challenging to establish; thus, we’re very proud of our success.” García elaborates, “Fiction must resonate with viewers on a deeper level than series available on platforms, fostering routine viewership at specific times.”
Nowadays, few productions see the light of day without collaboration among various partners. The show “Padre no hay más que uno, la serie,” which is an adaptation of Santiago Segura’s successful film series, serves as an illustration. It was produced by Bowfinger Intl. Pictures in collaboration with Sony Pictures Intl. Prods., Atresmedia, and Prime Video, showcasing the adaptability of Spanish studios. Mediterráneo’s “La Favorita 1922,” a historical drama from Bambú, initially aired on Mediaset España’s Telecinco before being released on Mediaset Infinity and Netflix, and it has been sold to over 20 international markets.
“The journey from development through to production and promotional efforts was a strong demonstration of confidence that I haven’t witnessed in years,” reflects Ramón Campos, founder of Bambú. “My observation is that we need shorter episodes to make viewing feel less like a chore.”
Independent producers are adapting to the new landscape. “From the outset, we primarily focused on original content,” explains Anxo Rodríguez, founder of Espotlight, which has produced Prime Video’s “Los Farad” and “Dime tu nombre,” along with “Un nuevo amanecer” for Atresplayer. “Yet, as budgets grow and the market becomes crowded, licensing presents a new avenue—a process that requires financial strength and distribution partnerships.”
Espotlight’s agreement with Sony Pictures Television provides robust support, offering advantages in visibility and distribution. “The approach to production now resembles assembling independent films.”
For Izen Group, part of France’s Studio TF1, the narrative is similar. “Originals provide visibility but offer limited profit margins,” explains President José Velasco. “Licensing carries more risks, but it also allows producers to return to their primary roles of creative and financial oversight.”
Co-production is emerging as another beneficial strategy, with Spanish entities increasingly pursuing this model. In the production of “Puberty,” actress-writer-director Leticia Dolera (“Perfect Life”) collaborates with Distinto Films, Corte y Confección de Películas, Uri Films, and Belgium’s AT-Prods., with Beta Film managing sales and HBO Max acquiring rights for Spain and Portugal.
Movistar Plus+ has partnered with Banijay’s DLO Producciones and Arte France on Alberto Rodríguez’s “The Anatomy of a Moment,” while Alea Media’s Aitor Gabilondo teams up with Chile’s Fábula to adapt Isabel Allende’s “A Long Petal of the Sea.”
The Mediapro Studio is co-producing “Raza Brava,” the latest series from Hernán Caffiero, alongside DeCulto, Atómica Group, and Erik Barmack’s Wild Sheep Content. Plano a Plano is collaborating on the thriller “Innato” with Los Angeles-based Dynamic TV, slated for Netflix Spain.
Meanwhile, Secuoya Studios is currently filming “Arcadia” alongside ViX, William Levy Entertainment, and SkyShowtime in Spain. Looking toward Europe, Secuoya has a first-look agreement with the U.K.’s BlackBox Multimedia and a partnership with France’s Sydney Gallonde.
Spain’s generous tax incentives have attracted foreign productions and bolstered the local industry. However, industry leaders are emphasizing the need for regulations to evolve in parallel.
“Spain requires not just appealing tax benefits but also legal stability and adaptable, competitive regulations—including labor laws—to maintain its status as a genuinely attractive production hub,” states Sara Fernández-Velasco, CEO of Izen.
