Inside Spain’s Bid to Become the “Hollywood of Europe”
HOLLYWOOD REPORTER. NOVIEMBRE 1, 2022 9:00AM
Recognizing the country’s film industry as a key driver of a potential post-pandemic recovery, the government is setting its sights on rapid growth.
The country’s tax incentives got a huge boost in 2020. Spain now offers incentives for international shoots via tax rebates of up to 30 percent on the first 1 million euros ($969,890) expenditure and 25 percent after that, with a minimum spend in Spain of 1 million Euros (less for animation and visual effects services). Other regions have their own systems: for example, rebates in the Canary Islands on the same minimum spend sit at 54 percent on the first 1 million euros and 45 percent after. And in the northern region of Bizkaia, where Game of Thrones filmed, the local film commission just unveiled plans expected to go into effect Jan. 1 to up their regional incentive to a whopping 35-70 percent depending on characteristics of the project.
Spanish Prime Minister Pedro Sánchez announced on Wednesday the launch of a Spain Audiovisual Hub plan to offer a total of 1.6 billion euros (1.9 billion dollars) during 2021-25 to boost film and television production in Spain, and encourage large foreign actors to shoot and mount the production in centers in Spain.
One of the first beneficiaries of the plan, according to Spanish press reports, will be Disney, which on March 26 presents the romantic comedy "Besos Al Aire", its first original in Spanish from Disney Plus, although a collection from the television Spanish Mediaset Spain.
Addressing representatives of the Spanish industry in Madrid on Wednesday, Sánchez also highlighted that the Spain Audiovisual Hub started was designed to turn Spain into a talent hub.
ARCANO launches investment fund
THE INFORMATION NEWS 02.22.2021 - 15: 36h
New investment fund in Spain. Arcano ACF, the Arcano division specialized in structured asset financing and investment vehicle management, announced on Monday the launch of Arcano Audiovisual Financing, aimed at institutional and professional investors with a target size of 70 million euros, expandable. The new vehicle is designed to generate profitability by financing audiovisual content, in particular cinema, television series and documentaries, in a stable way over time.
Arcano Financing Audiovisual aims to sign financing agreements with the audiovisual industry, which has recently been favored by a regulatory framework with greater clarity and transparency, and under a structure with very limited risks without losing sight of profitability, at the it will be very online. with the multiples of the rest of the strategies offered by ACF.
NETFLIX LAUNCHES ITS FIRST EUROPEAN PRODUCTION CENTER IN MADRID
Madrid, April 4, 2019
Netflix today celebrated the opening of its first European production center in Tres Cantos, Madrid. This is part of a multi-million euro investment in content in Spanish, which will help support Spain's growing creative community.
Since its launch in Spain four years ago, Netflix has invested heavily in Spanish-language shows - local stories created by local talents and produced locally. Today, he added two other new original shows, The Innocent and The Crime of the Century, to his 2019 and 2020 list that includes series such as La casa de papel Part 3, Alta Mar, Las chicas del cable Temporada 4, Paquita Salas. Season 3, Elite Season 2, Criminal, The Neighbor, Hache and Christmas Days and movies like Elisa and Marcela, In spite of everything, Who would you take to a desert island ?, Seventeen, Klaus or Home.