![]() It needs to align, however, with powerful market forces and the artistic ambitions of new generations to really reshape a sector. “The rest of the world is going to have to be good at that, because budgets are coming down and Spain has really great technical crews.” budgets, creating fantastical worlds on a fixed number of soundstages,” says Barmack. “Money Heist,” “Grand Hotel,” “Velvet” and “Cable Girls” “all had outstanding production values at a tenth of U.S. “The space left by the platforms is being taken up by the independent sector, with more co-productions, more frequent territory pre-sales and multiple financing sources.” “At Berlin, independent film and TV was more alive than ever,” says producer Adrián Guerra (“Through My Window”). Here, as in exports on Spain’s most commercial indie movie propositions, Spain may grow because of, rather than despite, the streamers’ pullback on 100% ownership and more measured investment. ![]() 1, Spain introduced production tax breaks that are among the most competitive worldwide. The budget of Spain’s ICAA national film agency will rise sharply to over €100 million ($109 million) for 2023.Īlso creating new impetus, on Jan. New growth drivers are also now entering the mix. With Spain’s online video sub- scription revenue set to grow from $1.8 billion in 2022 to $2.8 billion in 2027, according to estimates from research film Omdia, investment doesn’t look set to suddenly stop. That compares to 18% for the U.K., Italy’s 16%, 12% for France and 8% for Germany, according to a European Audio- visual Observatory analysis of Ampere Analysis data. In comparative terms, Spain has been Europe’s biggest beneficiary of global streamers’ investment, accounting in 2021 for a whopping 37% of their total investment in original European content among top 10 countries. ![]() “If you throw in Romance-language countries that basically understand the constructs of Spanish, you’re getting towards a billion people, double the size of English-language markets,” says Erik Barmack, a former VP of international originals at Netflix when it launched “Money Heist” and “Elite,” and who has just optioned his fourth novel from Spain, “Red Diamond,” to adapt as a movie. ![]() Some of the same growth drivers of the past will continue to operate in the future. As Spain advances on the third year of the 2021-25 AVS Hub Plan, a big question is how its entertainment sector can sustain momentum. ![]()
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