Said Spain Film Commission's Juan Manuel Guimeráns: ‘If the U.S. introduces a federal tax credit, I expect production there to grow. I don’t think that’s necessarily negative for other territories. If production in the U.S. increases, labor and other costs may rise, which could still push some production elsewhere’ Spain’s audiovisual sector is continuing to expand, with production spend expected to reach €5.68 billion ($6.6 billion) in 2025, up 45% from 2022, according to a new study by U.K.-based consultancy Olsberg SPI, commissioned by the Spain Film Commission.
At a presentation held at the San Sebastian Festival, Kayleigh Hughes of Olsberg SPI said the study expands on the consultancy’s 2024 analysis of incentivized international production, taking a broader look at Spain’s audiovisual production sector from 2023-25. The research uses Spanish Statistical Institute data to measure production expenditure across film, video and television, including spending on goods, services and personnel. However, it excludes exhibition, distribution, broadcasting and video games, while post-production will be included in the full report, she added.
The sector is expected to generate €4.98 billion in gross value added (GVA) for the Spanish economy in 2025. That includes €2.72 billion in direct activity, alongside indirect activity generated by suppliers and service providers and induced activity linked to employee spending. Hughes said the figures underline the audiovisual sector’s growing economic footprint beyond production companies themselves, supporting a wider ecosystem of businesses and workers.
The study also points to broader benefits including screen tourism, cultural visibility, technical innovation and sustainability. Spain has also recorded strong growth in film and co-production volumes in recent years, according to European Audiovisual Observatory data, reinforcing its position as both a domestic production hub and an international filming destination. A panel comprising Spain Film Commissioner Juan Manuel Guimeráns, Madrid Film Region Coordinator Xiomara Garcia, Olsberg SPI’s Marta Moretto and Jesus Cambra of the Pablo De Olavide University held forth on the current state of affairs.
Moretto said the figures in the Olsberg study reflect substantial public and private investment and underline the growing scale of Spain’s production ecosystem. The sector’s economic impact extends well beyond production companies. Jesús Cambram of Pablo de Olavide University noted that almost half of the roughly €5 billion in value generated around the audiovisual industry is created outside the sector itself, demonstrating its wider “tractor effect.” The employment multiplier is similarly significant: for every 10 jobs directly linked to audiovisual production, another 11 are generated outside the sector, Cambram asserted.
Those jobs include electricians, carpenters, hair and makeup professionals, transport workers and hospitality staff. Guimeráns, meanwhile, stressed that the sector’s impact extends to wages and working conditions beyond the audiovisual workforce. The territorial impact is particularly visible in Madrid, where the regional audiovisual industry generates around 30,000 jobs, according to Garcia of the Madrid Film Regional Office.
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