Spanish cinema received €58.8m from TV companies in 2009
In 2009, the Spanish audiovisual sector received a funding injection from the seven national TV broadcasters (Antena 3, Telecinco, TVE, Sogecable, SPTI, Cableuropa and Cosmopolitan) of over €89m, of which €58.8m was allocated to cinematic feature films.
This investment is in line with the regulations obliging TV companies whose programming includes features made less than seven years ago to invest 5% of their revenue in advance funding for European audiovisual works. Within that percentage, 3% must go to works in Spanish or any of Spain’s official languages.
Compared to 2008, there has been a significant change in trend towards rights acquisitions (which have increased from 37.9% to 77.4% of the total) instead of direct financing (which has dropped from 62.1% to 22.6%). Moreover, there has been a striking decrease in investment in cinema (down 44.7%) to the advantage of TV dramas (up 73.17%).
Since the obligation came into force 11 years ago, private TV networks have invested a total of almost €1.376m in audiovisual works for cinema and television, rather more than the €1.261m anticipated by the law.
Finally, the report points out that “broadcasters’ investment in Spanish cinema is a very important element for maintaining the competitiveness of this business” and it suggests that this investment should be accompanied by “strategies that exploit the possibilities offered by TV channels for promoting and advertising the financed films”.
To read the full report, click here (available in Spanish).
(Translated from Spanish)
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