Sun, Jul 21, 2019 - Page 16 News List

Media firms flock to emerging TV series production hub Madrid

By Adrien Vicente  /  AFP, MADRID

The subscription streaming service market is to grow faster in Spanish-speaking nations from last year to 2022 than in Britain or the US, PricewaterhouseCoopers said.

Spain, which has a long history of film and TV production, is taking advantage of the opportunity.

“We focus on the new platforms, but all of this crystalized before,” said Patricia Diego, a TV production professor at the University of Navarra.

She pointed out that Money Heist creator Alex Pina had been making series for Spanish TV stations for the past two decades.

Spain’s relatively low salaries make it competitive to produce shows in the country, Diego added.

The sector is also getting a boost from new EU rules due to come into effect next year that would require streaming video providers like Netflix and Amazon.com Inc’s Prime Video to dedicate at least 30 percent of their catalogues to European content.

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