The Spanish Society for Technological Transformation (SETT) has unveiled its €215.6 million investment aimed at enhancing Spain's international audiovisual footprint.
The Spanish Society for Technological Transformation (SETT) recently announced a substantial investment of €215.6 million (approximately $252.3 million) to foster the growth of Spain's film, television, video game, and new technology sectors. This initiative is part of the Spain Audiovisual Hub’s Phase 2 efforts to build global competitors within the audiovisual sector. The announcement was reported by Variety on September 19, 2026.
SETT’s investment is significant not only in scale but also as a transformative approach to funding, transitioning from traditional subsidy models to a more sustainable, investment-driven strategy. According to María González Veracruz, Secretary of State for Digitalization and Artificial Intelligence, the initiative aims to provoke a matching investment of €230 million (around $269.1 million) from private-sector stakeholders. This substantial funding will serve as a catalyst for growth, innovation, and employment within the industry.
Historically, Spanish governments have supported the film and television sector through subsidy grants and tax breaks targeted at individual projects. In contrast, SETT’s model requires that companies seeking investment demonstrate the ability to co-invest with private partners, effectively creating an ecosystem of collaboration. González Veracruz emphasized that this model aims to consolidate a robust international audiovisual market for Spain. SETT’s Director General, Javier Ponce, remarked that the initiative positions SETT as a “public catalyst for growth” in the sector.
To date, 11 out of the 15 confirmed investments backed by SETT have been made public. Beneficiaries include notable companies in animation and production such as Anima Kitchent, Good Films Studios Spain, and Lazona Audiovisual Hub. The initiative not only supports existing companies but also aims to nurture emerging players in the sector, thereby broadening the investment landscape.
SETT’s investments have involved partnerships that are both national and international in scope. For example, a joint investment with South Africa’s Known Associates Group has led to the launch of Moonlighting Studios Spain and a post-production facility named The Refinery. These initiatives are structured to leverage global opportunities and enhance Spain’s production capabilities.
The evolution of SETT's funding model represents a significant departure from Spain’s long-standing support of independent projects. The new approach positions SETT as a serious player in establishing a competitive international audiovisual sector, nurturing companies to create, own, and distribute intellectual property.
Although the European Union's Next Generation funds have concluded, SETT emphasizes that their commitment to the audiovisual sector will continue under a new fund named España Crece. Current discussions with the Spanish state bank ICO are aimed at ensuring a seamless transition in financing structures. This strategic move will facilitate ongoing investments in technological innovation and sectoral growth, a key objective of Spain’s post-COVID recovery plan.
Ponce highlighted that the overarching goal of the second phase of the Spain Audiovisual Hub is clear: to solidify Spain’s standing, not only as a filming location but also as a hub for content creation, financing, and global distribution.
SETT’s aggressive push to amass €215.6 million reflects a broader ambition to elevate Spain's audiovisual market on the global stage. It underscores a pivotal shift toward sustainable investment practices while maintaining government-backed security, enabling companies to thrive amid a competitive landscape. As they cultivate a new generation of startups equipped to penetrate international markets, the impact of this initiative will likely resonate throughout the entire audiovisual sector in Spain. This investment strategy may redefine Spain’s future as a leading destination for creative talent, fostering an environment conducive to innovation and growth in media production.
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