– The government has approved investments in Good Films Studios Spain and Ítaca Films Madrid, aiming to mobilise more than €600 million in production activity over the coming decade
On the set of The Infiltrator, a Good Films co-production
Spain has approved two major public-private investment operations designed to expand the country’s international audiovisual production capacity. The Council of Ministers has authorised a total of €39.8 million in public investment through the Spanish Society for Technological Transformation (Sociedad Española para la Transformación Tecnológica, SETT), supporting the establishment of Good Films Studios Spain in Alicante and Ítaca Films Madrid in Madrid.
The measures form part of the second phase of the Spain Audiovisual Hub plan, which seeks to consolidate the country’s position as a destination for international investment, production and technological innovation in the audiovisual sector. Together, the two operations are expected to generate more than €600 million in production-related activity and create significant employment opportunities across Spain.
Good Films Studios Spain will receive €19.8 million as part of a broader €40.5 million public-private operation. The company, based at the Ciudad de la Luz studio complex in Alicante, is linked to the UK-founded Good Films, and is backed by Canadian and US capital through the investment vehicle Orogen. According to the government, the project is expected to generate €215 million in direct investment during its first five years, alongside a further €390 million in indirect and induced economic effects.
The studio intends to focus on internationally orientated independent films with budgets between €17 million and €25 million, operating across development, financing, production and exploitation. Authorities also highlighted the project’s expected contribution to local employment, skills development, and the attraction of specialised technical and creative talent.
The second operation allocates €20 million to Ítaca Films Madrid as part of a €45 million co-investment structure involving Mexico’s Grupo Ítaca and Omegas Capital. The Madrid-based studio plans to deliver a €419 million production programme over ten years, covering 26 audiovisual projects across film, television, digital platforms and new formats.
Founded in Mexico in 2010, Grupo Ítaca has produced more than 90 titles in 18 countries, and works with major international studios, platforms and distributors. The company operates across the entire content value chain, from development and production to distribution and exhibition. Government representatives said Spain’s competitive tax incentives, experienced creative and technical workforce, and privileged access to both European and Latin American markets were key factors behind the investment. The project is expected to create between 20 and 40 permanent jobs, while supporting an average of around 900 direct and indirect jobs annually through production activity and associated services.
Both investments are being channelled through SETT as part of the wider Spain Audiovisual Hub strategy, funded through the European Union’s Next Generation recovery programme and coordinated by the Ministry for Digital Transformation and Public Administration. The initiative aims to strengthen the competitiveness and international profile of Spain’s audiovisual sector while supporting long-term industrial growth.
Together, the two projects illustrate Spain’s continued strategy of combining public investment with international private capital to expand production capacity, retain intellectual property and reinforce the country’s position as a destination for high-value audiovisual projects. In total, the announced initiatives represent more than €630 million in planned production and investment activity over the coming decade.
