The Spanish subsidiary of the film corporation Good Films, Good Films Studios Spain, is leading a public-private partnership project with a total investment of €40.5 million. The purpose of this is to establish an independent film production studio in Alicante that plans to undertake large-scale international projects. Its aim is to position itself in the medium-to-high-budget independent film segment, with projects ranging from €17 million to €25 million.

The Ministry for Digital Transformation and the Civil Service, through the Spanish Society for Technological Transformation (SETT), has confirmed an investment of €19.8 million to support this international film production studio. Forecasts indicate that the project will generate €215 million in foreign direct investment in Spain over its first five years, plus a further €390 million arising from indirect effects and industry multipliers.

National intellectual property
The operation will not only help boost the production of competitive titles with which to access international markets, drawing on the experience of the company's founders, but it will also help retain national intellectual property. The British company, founded in 2007, is undertaking the project with the financial backing of Orogen, a Canadian and US investment vehicle specialising in film.

The Ciudad de la Luz studios in Alicante house the new company and, according to official estimates, will help foster local employment, the development of training programmes and the attraction of qualified talent. The activity generated will mobilise a broad ecosystem of technical and artistic professionals and ancillary companies, ranging from production and post-production services to logistics, transport, sets and digital creative services.

Spain Audiovisual Hub
SETT’s investment forms part of the second phase of the Spain Audiovisual Hub Plan, an initiative that is part of the Recovery, Transformation and Resilience Plan. It is funded by the European Union through Next Generation funds.

In addition to the Spain Audiovisual Hub, SETT manages two other financial instruments aimed at strengthening the technology business ecosystem: PERTE Chip, focused on microelectronics and semiconductors, and Next Tech, which encourages private investment and improves access to finance in Spanish strategic sectors linked to digital transformation.

^{Photo: Good Films Studios}