CANNES 2025: The country has presented bold new financing tools at the Marché du Film in order to boost local productions and attract global investment

María Coronado (left), audiovisual director at the Spanish Society for Technological Transformation (SETT), and Carla Redondo, director general for the Management of Digitalisation and Audiovisual Communication Services, during the panel

At this year’s Marché du Film (13-21 May), the Spanish government presented a sweeping update to its Spain Audiovisual Hub Plan, first launched in 2021 under president Pedro Sánchez. With a new package of financial instruments amounting to €1.712 billion, the government has signalled a major step forward in its strategy to establish Spain as Europe’s leading audiovisual hub.

The presentation, organised by the Ministry for the Digital Transformation and Civil Service, outlined how Spain has successfully consolidated its audiovisual industry as a strategic sector, and is now looking to scale up efforts to internationalise, digitalise and attract foreign production.

According to María González Veracruz, Secretary of State for Digitalisation and Artificial Intelligence, the timing could not be better for Spanish cinema. The country is enjoying strong visibility at Cannes this year, with two features in the official competition, three shorts, a Critics’ Week title and one immersive project. Four years after the plan’s inception, she emphasised that Spain is now widely recognised as a go-to destination for international collaboration and investment in content creation.

González Veracruz also highlighted the broader ambition of the Audiovisual Hub Plan, which involves 13 ministries and positions the audiovisual sector not only as a cultural priority, but also as a vehicle for economic growth and digital transformation. The revised plan aims to reach €713 million in industry revenues by 2026, with Spain currently ranked the second-largest producer of audiovisual content in Europe and the fourth in animation. The sector already employs over 62,000 people and continues to be a key destination for investments from global streaming platforms.

Carla Redondo, director general for the Management of Digitalisation and Audiovisual Communication Services, explained that the programme was developed in close consultation with the industry to identify existing challenges and untapped opportunities. It spans the entire audiovisual value chain, from traditional filmmaking to emerging sectors such as gaming. A major benchmark was reached when production output grew by 40% between 2022 and 2024. Redondo also pointed to recent advances in gender equality, with more women taking up producing and directing roles.

She also drew attention to the appeal of Spain’s cash-rebate scheme, including favourable conditions in specific territories like the Canary Islands and Navarre, as well as the growing influence of the Spain Film Commission and the national Virtual Locations programme.

María Coronado, audiovisual director at the Spanish Society for Technological Transformation (SETT), shared more details on how the funds will be deployed. SETT, founded in 2024, manages three funds, one of which is dedicated to the Spain Audiovisual Hub. Coronado described the initiative as an ambitious response to the challenges posed by COVID-19, built around internationalisation, innovation and public-private partnerships.

The €1.712 billion will be channelled through several regulated mechanisms. These include equity funds with up to 49% public participation (requiring the remaining 51% from private sources), quasi-equity options for foreign companies, and flexible loan instruments designed to meet a range of financial needs within the sector. All mechanisms are bound by maturity terms of 10-15 years and must demonstrate a clear strategic focus on the Spanish audiovisual market.

Applications for the funding must be submitted before August 2026. Funds not committed by that date will be returned to the EU. The minimum investment per operation is €500,000, with no maximum cap, and all audiovisual businesses are eligible to apply.

The session wrapped with a short Q&A session.