The Government takes another step after the successes achieved in the first stage.
The President of the Government has announced the design of a second phase of the “Spain, Audiovisual Hub of Europe” plan, with the aim of consolidating Spain as a leader in audiovisual production in Europe. This new phase includes an additional investment of 1,700 million euros through the Spain Audiovisual Hub Fund, managed by the Official Credit Institute (ICO), and is part of the addendum to the Recovery, Transformation, and Resilience Plan.
Since its launch in 2021, the plan has mobilized more than 1,600 million euros in public investments, achieving a 37% increase in film productions and a 95.62% growth in sector employment between 2020 and 2023. The second phase seeks to enhance these results, focusing on digitalization, internationalization, and improving the competitiveness of Spanish audiovisual companies.
The Government states that the good results of the first phase opened an opportunity to reinforce the economic impact of culture in Spain, with five strategic axes:
- Strengthening cultural industries with international projection.
- Using culture as a tool of diplomacy.
- Reinforcing the brand of Spanish culture abroad.
- Promoting the Spanish language and co-official languages as strategic assets.
- Modernizing the structure of cultural action in the international sphere.
