Géraldine Gonard: Tax incentives for international production are 50% in the Canary Islands and up to 35% in other regions of Spain

Tax incentives have been key for fiction growth
Maribel Ramos-Weiner|24 de marzo de 2021

The system of tax incentives for international production - which is 50% in the Canary Islands and up to 35% in other regions of Spain - is one of the key elements that has driven the growth of Spanish fiction, commented Géraldine Gonard, director of Conecta Fiction, during a panel of the Association of European Women of Industry within the framework of the last day of the WAWA Business Forum.

In 2020, 56 series were produced in Spain of which many are broadcasted in Latin America "and in 2021 the rise will continue," she pointed out. Atresmedia Studios and Globomedia lead the ranking of the 60 main Spanish production companies with seven productions at the moment, followed by Plano a Plano and Diagonal TV with four each.

Gonard mentioned that the boom in Spanish fiction relies on other key factors such as the maturity of the market, mass audience, the language, the rapid growth of the SVOD market, creativity and top-notch talent, glocalization, creation of large franchises, international format and high level of production.

Co-production opportunities between Spain and Latin America have grown a lot in the last five years. “The possibilities are numerous. It is a very competitive and open moment”, she concluded.