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VIRAL EXCLUSIVE
Aug. 1, 2023
Success of Money Heist has Cemented Spanish Content as a Powerful European Production
A wave of 83 new releases and 31 returning seasons in 2023 is unveiling the Spanish Entertainment Industry’s global domination. By: Toh Yan Yun
According to data revealed by government-backed trade body Audiovisual from Spain, a staggering lineup of 83 new Spanish scripted series are set to be released in 2023, accompanied by 31 returning seasons. Evidently, the Spanish scripted entertainment industry is experiencing a boom. This surge in original content has been credited to a mix of talented scriptwriters and producers, along with the support of major streaming platforms and distributors.
The most prominent player in the industry is TelevisaUnivision. Currently standing as the leading Spanish-language media and content company in the world. The company features the largest library of original content and industry-leading production capabilities. Its media portfolio includes the top-rated broadcast networks Univision and UniMás in the U.S. and Las Estrellas and Canal 5 in Mexico. The company is also home to the global streaming services ViX and Blim TV, which altogether host over 50,000 hours of high-quality, original Spanish-language programming from distinguished producers and top talent. In 2021, Univision launched PrendeTV, a free, ad-supported streaming service for the U.S. Hispanic market. Additionally, it acquired Grupo Televisa’s content and media assets, which were valued at $4.8 billion, in a move to create a Spanish-language supergiant as competition ramps up.
Teresa Ezama, head of the audiovisual department at ICEX Spain Trade & Investment, reasons the recent inflex Spanish content as a result of the sheer size of Spanish-speaking audiences. She argues: “Spanish is the second most spoken language in the world (only behind Chinese). Over 400 million Spanish speakers around the world are divided between the 20 countries where the language is official. Besides, the more than 40 million people who speak Spanish as their mother tongue in the United States already represent 20% of its population.”
Spanish content, and especially TV series and feature films are endowed with a universal component: the stories and messages behind them are familiar and recognisable anywhere in the world because they work through emotions. Furthermore, she propounds that the image of Spanish content and industry as a stable content provider has also contributed to its success. High-quality Spanish-language movies and shows have continuously proved their ability to transcend language barriers to resonate with English-speaking audiences and other populations. For instance, crime series Money Heist earned a modest audience when it originally ran on Spanish TV, said creator Álex Pina, but managed to gain unprecedented levels of global viewership when streamed on Netflix.
The international success enjoyed by Money Heist is not a one-off incident. Just last year, Wrong Side of The Tracks was the top non-English series on Netflix and remained in the top 10 in more than 75 countries for several weeks. This year, titles such as Intimacy, one of Netflix’s best series in 2022, and Élite have made splashes at the global market. The latter has quickly gone on to rival Stranger Things as Netflix’s most watched series, with it being renewed for a seventh season and gaining a local adaption in India. As of now, there are at least 30 series awaiting release in 2023. Besides these, numerous other series are currently in various stages of production, and it is highly likely that more will be officially confirmed as the year progresses. Among the upcoming shows are noteworthy titles such as Berlin, a spin-off from the immensely popularly Money Heist series, as well as Fuego En El Cuerpo, and La Chica De Nieve (The Snow Girl). Viewers can also look forward to second seasons of recent hits like 30 Coins, which has been described as HBO Max’s most anticipated series for 2023. The Immortal is also gaining recognition as one of Moviestar Plus+’s finest original series to date.
As Ezama reports, both the US and the UK have shown a significant increase in their acquisitions of Spanish-language dramas. In recent times, a strong presence has been established in Western Europe and the Americas, with over 80% of revenues being generated from these regions. As opportunities in these Western areas continue to rise, the industry is now also focusing on expanding its footprint in new markets, particularly in the MENA region and Asia. Thankfully, with global successes such as Money Heist attracting interest in Spanish fiction and drama formats, the industry’s goal of cementing its status as a powerful European production hub will only prove increasingly feasible as demand for its content continue to rise.
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