04/08/2026 - The association is calling for tax incentives to be updated, legal certainty to be strengthened and administrative procedures to be accelerated to prevent Spain from losing ground to other countries

Peter Welter, the president of PROFILM and CEO of Fresco Film (Mediapro Group), during the presentation (© Borja Ballonga)

PROFILM, the Association of Spanish Producers of International Audiovisual Content, recently presented its 2025 International Audiovisual Investment Report, which analyses the activity generated in Spain by foreign productions working through its member companies. The report assesses the direct contribution made by these projects to the Spanish economy, employment and audiovisual industry. The presentation was led by PROFILM president Peter Welter, CEO of Fresco Film, part of the Mediapro Group. The figures point to a significant conclusion: after establishing itself as an important driver of inward investment for Spain and reaching historic highs – peaking in 2022 – the sector is now facing a decline in its ability to attract international projects and investment.

According to the report, international projects handled by PROFILM’s member companies generated direct investment of €103.9 million in Spain in 2025, across 24 audiovisual projects and 6,490 contracts. In 2024, however, direct investment reached €129.9 million, with 27 projects and 8,510 contracts. This represents a 20% fall in investment, an 11% decrease in the number of projects and a 23.7% drop in employment contracts. For PROFILM, these figures are a warning sign. Over the past decade, Spain has built a strong position as an international audiovisual production destination, but that competitive advantage is beginning to erode in an increasingly demanding global market.

PROFILM points out that, in 2022, international shoots took place across 14 autonomous communities, compared with just seven in 2025. The association believes that expanding the geographical reach of this activity must become a priority if Spain is to turn the audiovisual sector into a genuine nationwide industrial policy. The report also shows that the international projects produced in Spain in 2025 came mainly from the UK, with six productions, while the USA accounted for four. A further eight productions originated in the European Union, specifically Germany, Denmark, France and Ireland. Activity from South Korea was also recorded.

The report warns that the downturn observed since 2022 coincides with a more restrictive international environment, shaped by a market correction following the expansion cycle of streaming platforms, rising costs, macroeconomic uncertainty and the restructuring of major international studios. However, PROFILM argues that these global factors are compounded by an issue specific to Spain: the incentive framework in the common tax territory has become less attractive than those offered by other European countries. Spain currently provides a 30% tax deduction on the first €1 million of eligible expenditure and 25% on the remainder, subject to certain maximum limits. Competing markets, meanwhile, have introduced higher rates, more flexible systems, lower minimum-spend thresholds and more predictable reimbursement schedules.

PROFILM has therefore identified three priority areas for action if Spain is to maintain its position. The first is to revise tax incentives so that they are aligned with those of Europe’s most competitive countries and to prevent major projects, particularly medium- and high-budget productions, from moving elsewhere. The second is to strengthen legal certainty through clear criteria, advance certificates and a consistent interpretation of eligible expenditure. For international investors, being able to determine the actual cost of producing in a country with precision is a decisive factor. The third is to improve administrative efficiency, both in the processing of permits and in the reimbursement schedules for tax incentives.

(Translated from Spanish)