September 2019

Spanish Alliance To Counteract Netflix, et al.

26/09/2019, Spain

The Atresmedia media group and the telecommunications provider Telefónica plan to develop and produce fictional TV series and films in a joint venture.

For their local Spanish market as well as for international channels. With this step, the two companies are reacting to increasing competition The Atresmedia media group, in which RTL Group has an almost 19 per cent stake, and the telecommunications provider Telefónica plan to jointly develop and produce fictional TV series and films. The series will be broadcast on the Atresmedia channels and Telefónica’s Movistar plus as well as on international channels. According to the two companies, the planned 50/50 joint venture will be a way to exploit talents and resources more efficiently and is also an answer to the increasingly intense competition from new, internationally active players, i.e., the major streaming services, such as Netflix.

 

The agreement for the establishment of the joint venture was signed by the two company managers Silvio González and Emilio Gayo. Both aim to further increase the weight of audio-visual productions from Spain in the international market. Atresmedia has already done a lot to establish the excellent national and international reputation of Spanish TV series, and has won an Emmy in the US, among other awards. The successful series of Atresmedia include La casa de papel, Vis a Vis, El Tiempo Entre CosturasVelvet, Gran Hotel, El internado, and El Secreto de Puente Viejo. Movie productions, including La isla minimaContratiempoEl ReinoDurante la tormenta and Palmeras en la nieve, are also among the media group’s successes.