· In this second phase of Spain Audiovisual Hub, a total of 1,712 million euros in financial instruments are made available to the sector to support the consolidation of the sector, providing it with greater resilience and operating capacity in the global market.
· Since the Government promoted the Spain Audiovisual Hub in 2021, within the framework of the Recovery, Transformation and Resilience Plan, it has already invested 1.6 billion euros
· The operation has been carried out through the Spanish Society for Technological Transformation (SETT), a public entity dedicated to financing and investment in advanced and transformative technologies linked to digital transformation.
The Government will invest 44 million euros in the Spanish audiovisual fund Culture CAP7 with the aim of facilitating the financing of audiovisual productions, as decided today by the Council of Ministers on the proposal of the Minister for Digital Transformation and Public Service, Óscar López.
This operation is part of the Spain Audiovisual Hub plan and will be channeled through the Spanish Society for Technological Transformation (SETT). Culture CAP7 is an innovative fund dedicated exclusively to the culture and audiovisual sector. The fund management company was founded in 2014 and has a presence in the Basque Country and Madrid. It is supported by the European Investment Fund (EIF), and has an experienced team in the industry and privileged access to the financial and advisory community in Spain, as well as the entire middle sector in Spain and internationally.
“We want to continue consolidating Spain as the most outstanding production center in Europe, contributing to the good progress of employment and the growth of the sector. Since we launched Spain Audiovisual Hub, employment in the sector has increased by 107% in the last five years and the film box office in 2024 exceeded by 93% the one registered in 2021. Spain is already in fourth place in the production of films and series for TV in Europe and is a leader in the European Union in the investment of streaming platforms in original European content,” said Minister Óscar López.
This investment of SETT in Culture CAP7 represents a strategic opportunity to increase the capillarity of these funds in the Spanish market, since its activity is aimed at promoting Spanish SMEs with growth capacity that operate in this industry. It will affect, above all, the production, distribution and development of the ecosystem of services necessary to carry out the productions, which will allow to strengthen the Spanish audiovisual sector and facilitate greater resources to compete in the global audiovisual market. In addition, this operation will contribute to the creation of new companies and the strengthening of existing ones, with the aim of enhancing the generation of jobs and the consolidation of an innovative business environment.
First operation of the second phase of the Audiovisual Hub
It is also the first operation of the second phase of the Spain Audiovisual Hub Plan, an initiative that is part of the Recovery, Transformation and Resilience Plan. Led by the Ministry for Digital Transformation and the Civil Service, through the Secretary of State for Digitalization and Artificial Intelligence (SEDIA), it mobilizes in this second phase funds worth 1,712 million euros in financial instruments, aimed at supporting the consolidation of the sector, providing it with greater resilience and operating capacity in the global market.
In the first phase of the Plan, 1.6 billion euros have already been invested since 2021, articulated by aid from which the various agents of a sector that covers not only cinema, but also digital technologies, video games or experimental development and innovation projects have benefited.
Together with the Spain Audiovisual Hub, SETT manages two more financial instruments to enhance the technological business ecosystem: PERTE Chip, dedicated to microelectronics and semiconductors, and Next Tech, which encourages private investment and improves access to financing in the strategic Spanish sectors linked to digital transformation.