Spain plans to press on with its commitment to the country’s audiovisual industry, said Óscar López, Minister for Digital Transformation and Public Administration. Speaking at the conference titled The New Script of the Audiovisual Industry at the San Sebastian Festival, López said Sunday that his Ministry would continue supporting its audiovisual industry through the Spain Crece Fund.
That looks likely to feature further strategic investment via SETT, the Ministry’s sovereign venture capital fund.
“When a public policy works, it should be maintained without a deadline. It is the golden age for our audiovisual sector,” he said, pointing to a series of record-breaking figures.
López spoke just hours before “La Bola Negra,” from Spain’s Javier Calvo and Javier Ambrossi, won the 2026 TIFF People’s Choice Award, a coveted audience prize at the annual film festival in Toronto. which, according to Variety, is largely seen as an indicator of legs on the road to the Oscars stage.
Four Spanish series seasons and three movies feature in Netflix Top 10s of the streaming giant’s biggest non-English hits ever, more titles than from any other country in the world.
“We had the talent, the ideas and the locations. What was missing was political will and a significant injection of capital,” López continued. He pointed to the Spain Audiovisual Hub Plan as a key driver of the sector’s development, describing it as “an unprecedented institutional commitment commensurate with the scale of the challenge” that made it possible “to design an economic transformation on an unprecedented scale.”
“And here we are, €1.6 billion later, reaping the benefits and expanding our horizons,” he said.
Statistics Reveal Spain’s Dramatic Growth
Spain is now the European Union’s largest production market, while audiovisual production in the country grew by 31% in 2025. Spanish productions also account for nine of the 11 most-watched series in Europe, according to the figures cited by the minister.
Employment in the sector has doubled since 2020, rising from 30,900 workers to more than 64,000 in 2025.
López noted that “the industry will soon benefit from the €450 million in investments mobilized by SETT (Spanish Society for Technological Transformation), in companies such as Lazona, Good Films and Aurora Media.”
High Praise for SETT, the Venture Capital Fund of Spain’s Ministry for Digital Transformation
Speaking at the first of three panels, Good Film Studios founder Miriam Segal praised Spain’s studios, talent and international potential. Having worked across the U.S., UK and Europe, she said she “didn’t know about this incredible” industry infrastructure or the government’s “extraordinary passion and commitment” to the sector. For the first time as an independent producer, this support has enabled her to offer pay-or-play deals to actors. Ánima Kitchen’s José Carlos Garcia thanked SETT for supporting the company’s vision, enabling growth, talent recruitment and plans for three high-end animated films in five years, adding that SETT would help expand Ánima’s animation leadership.
Europe Panel: A Roadmap to the Future
The panel brought together perspectives from Spain, Greece and Denmark on how Europe can remain culturally diverse while competing globally. They agreed there is no single European audiovisual model, with Carla Redondo of Spain’s Ministry of Digital Transformation describing this diversity as “one of the true strengths” of Europe. Spain highlighted incentives, investment, talent and infrastructure, while Greece stressed using international productions to build local capacity and training. Esben Snoer Iversen Denmark’s Culture Ministry emphasized regional cooperation and flexible funding as the media landscape evolves. Speakers also called for greater administrative harmonization and support for emerging creative industries. As Leonidas Christopoulos of Ekkomed put it, “it’s all about the stories”: strong content ultimately drives international competitiveness.
Linear Television is Not Dead
The third panel explored how broadcasters and platforms are adapting to a rapidly changing audiovisual landscape. Said Mediaset’s Fernando Hernaiz” “Television is not dead” but has evolved into a broader “ecosystem” spanning linear channels, streaming, production and distribution. “We have a capacity to adapt,” he said, noting that television is now “technology, creation, scripts and business.” Audience fragmentation and measurement remain major challenges, while the panelists, including RTVE’s Alfonso Morales, Atresmedia’s Miguel Langle and Movistar Plus’ Clara Ruipérez called for regulation that keeps pace with platforms and social media. Investment, promotion and strong storytelling were seen as essential to making Spanish content travel internationally.
Sneak Peek at the Olsberg-SP Data
Spain Film Commission’s Juan Manuel Guimerans and Leon Forde of Olsberg SPI gave a sneak peek of the Olsberg study of the country’s audiovisual sector based on official data, which estimates €20 billion in direct production expenditure between 2020 and 2025, generating nearly €18 billion in gross value added and supporting around 64,000 jobs. Direct investment grew 45%, while gross value added rose 38%. More than half of employment generated by the sector comes through related industries and supply chains, including construction, hospitality and transport. Forde stressed that data is essential for effective policymaking but remains fragmented across the complex industry. They described audiovisual as an “ecosystem” where “all [species] are indispensable,” requiring continued investment and balance. A more detailed report will be presented on Sept.22.
John Hopewell contributed to this article.