Public Fund SETT Drives a 521 Million Dollar Push to Build Major Spanish Audiovisual Groups

Spain's State Society for Technological Transformation, known as SETT and part of the Ministry for Digital Transformation and Civil Service, has invested 215.6 million euros in the country's film, TV, video game and new technology sectors over the past twelve months. That figure has also drawn a further 230 million euros in private investment, pushing the combined push to around 521 million dollars.

The initiative is part of the second phase of the Spain Audiovisual Hub plan, through which the government aims to strengthen the film, TV and digital content sectors while attracting international production and investment to the country. Of the fifteen deals planned under this package, eleven have already been made public.

Beneficiaries include animation sector leaders such as Anima Kitchent, which has received 28.8 million dollars in backing alongside international animation and VFX group DNEG, and Amuse Animation, with a further injection of around 7.3 million dollars. New Spain based production companies have also been supported, including Good Films Studios Spain, with 19.8 million euros, Itaca Films Madrid, backed by Mexican capital, and Moonlighting Studios Spain.

The plan has also reached post production infrastructure, including Lazona Audiovisual Hub, a creation and post production facility in Madrid where SETT has taken a 46 percent stake for 1.1 million euros, and The Refinery, launched together with South African audiovisual group Known Associates. Rounding out the list is Impulse Studio, a full service film studio in Madrid where SETT has invested 3.9 million euros as part of an 8 million euro project.

With this set of deals, SETT is positioning itself as a public catalyst for growth, employment, innovation and talent in Spain's audiovisual sector, bringing government and European fund backing to projects aiming to become major players on the international audiovisual stage.