The Spanish Government promotes the audiovisual sector to make it a leader in Europe
The plan entitled "Spain: Europe's Audiovisual Hub" is set to receive public investment of more than 1.6 billion euros by 2025
The Spanish Government has set out to boost the national audiovisual sector to make the country a European leader in audiovisual production in the digital age. This is one of the cornerstones of Spain's Digital agenda 2025, which aims to attract international investment and talent in the sector to make it competitive in international markets.
To carry out this plan, the Government has envisaged public investment of 1.6 billion euros between 2021 and 2025 in order to encourage a 30% increase in audiovisual productions in Spain by the end of this period. On the one hand, this will support an industry that is key due to its importance for employment and the economy, and on the other it will enhance the profile of Spanish culture internationally.
A sustainable model
The investment will be used to support a sector which is guaranteed to be sustainable in the future, as stressed by Prime Minster Pedro Sánchez when he presented the plan: "To bring this new ecosystem to life, it needs to be sustainable; it needs to be profitable, self-sufficient and a regenerative source of wealth. We’re looking to harness all the dedication of our creators in pursuit of competitive, commercially successful outputs".
The plan envisages strong investment over the next four years to help the sector pick up the necessary momentum. The sector will subsequently become fully competitive in all its different formats, achieving sustainability thanks to strengths such as a reliable audiovisual industry, well-trained professionals and a globally recognized creative capacity.
Four main areas and three priorities
The audiovisual plan establishes three priorities: to make Spain a hub for attracting audiovisual production, with lower administrative and regulatory costs; to improve business competitiveness through new digital technologies; and to narrow the gender gap. These three overarching priorities indicate the four main areas of the plan.
The first areas, funded with 240 million euros, is to digitise audiovisual production and audience monitoring in order to promote platforms and their distribution, and hence favour their marketing internationally. This area includes a centralised point of information and contact to support potential investors.
Access to funding and tax incentives
The second main area consists of facilitating access to funding for projects and applying tax incentives for audiovisual production in Spain. This is the area that will receive the largest public investment, with funding of 1.33 billion euros until 2025.
The third main area, with 15 million euros, will entail adapting training plans to the skills demanded by the industry, and in supporting the training that the companies themselves offer their workers.
The fourth area, which will receive an investment of 18 million euros, includes improving regulation and removing administrative barriers.