Pedro Sánchez announces big plans for Spain to increase film and TV production by 30% up to 2025.
Spain will use tax credits as a key prong in trying to boost TV and film production by % over the next four years.
Bolstered by the international success of “Money Heist” and a increase in big budget movies and TV shows working out of Spain, the goverment has announced a new move to expand production still further.
Prime Minister, Pedro Sánchez, unveiled the plans which also include the creation of an Audio-visual “Hub Bureau” to entice foreign producers to invest in Spain and Spanish companies.
Over 2 billions of film tax credits will be offered as an additional incentive.
Spain has a recent history of providing locations to series like Game of Thrones and more recently Warrior Nun on Netflix, as it offers tax incentives and low overhead involving local production companies and facility provides.
Netflix, which opened it first European production centre in Spain, along with big players and rivals like Amazon and HBO, as well as Movistar domestically, have been ramping up their portfolio of film and shows made in Spain.
For example, the British “Spiderman” actor, Tom Holland, was shooting scenes in the Javea area of the Costa Blanca las autumn for a new action movie call Uncharted which is due to be released this summer.
Spain’s plans will see the bolstering of the country’s whole audio-visual sector, which besides movies and TV, also taken in advertising, video game and animation.
The country which also digitise its entertainment industry and create online platforms to make local production, distribution, international marketing and co-production more efficient.
Pedro Sánchez: “We are going to find that common ground between the expressive location of our creators and the conversion of that into competitive and profitable industrial products”
by: Alex Trelinski for ThOlivePress.es