Movistar Plus+, the pay-TV/SVoD service of Spanish telecommunications giant Telefonica Group, has moved into film production and backed five upcoming features including El Ser Querido from Rodrigo Sorogoyen.
The goal is to build a slate of films destined for the festival circuit and regular theatrical exhibition, before going on to screen on Movistar Plus+. It also plans to co-produce third-party films in exchange for streaming rights. Movistar Plus+ is Spain’s biggest locally owned VoD service, ranking fourth behind Netflix, Prime Video and Disney+ in its share of new subscribers in the first quarter of 2024.
Why has Movistar Plus+ stepped up its investment in the Spanish production sector?
By buying rights we have traditionally helped finance a significant number of films, from the mainstream to more niche titles. Now we have taken a step forward, confident with the results we have seen so far for Spanish cinema, with many titles ranking among the most watched films on our platform. We will now invest more in the local industry and be more active producing originals.
There will also be productions we will support more strongly, either with a bigger investment when buying the rights or co-producing to ensure the films get made. For the new Pedro Almodovar film The Room Next Door, we have made a big investment in buying the rights to ensure a 10-year exclusive window. It’s not a co-production, but it’s not an ordinary purchase of rights. It’s a huge effort for Movistar Plus+ but I thought it was a must; we had to be there and ensure we are Pedro Almodovar’s home.
What do you mean by “originals”?
Of the five projects we have announced so far, we are the majority producer: that is what we mean by “originals”. We lead the project and keep the exclusivity of the rights, except for the theatrical release, of course.
We are a platform that supports good films, and good films need to have a theatrical release. On the other hand, when we co-produce, we can resort to other options, like keeping the pay-per-view window for two years. We don’t rule out the option of co-producing internationally if we want to ensure getting the rights for a certain film.
What do you look for in the projects in which you invest?
The first question is who is behind a project. The first five productions we have announced are new films by established filmmakers, Alberto Rodriguez, Iciar Bollain, Rodrigo Sorogoyen, Oliver Laxe and the debut of [actress] Ana Rujas as a director.
The second key point is ambition in production terms, with a bigger budget than what is average in Spain. We cannot make a film with a budget like JA Bayona’s Society Of The Snow, but we can make the type of film that is typically difficult for the Spanish industry, of around €6m ($6.5m) or €7m ($7.6m).
What do you think makes Movistar Plus+ stand out in the competitive Spanish streaming landscape?
A diverse slate. We offer sports, international and Spanish cinema and series, and TV programmes. We invest in innovative content and our fiction content is closely rooted in our culture.
A good example of the latter is the series La Mesias [which premiered at San Sebastian International Film Festival in 2023 and was selected at Sundance this year]. We are Netflix’s alternative in Spain and our ambition is to keep being that. Netflix produces a lot of content, but we are a very relevant player in the Spanish market, making 10 fiction series per year, eight non-fiction series, TV programmes and, from now on, six features a year.
What do you think are the strengths and weaknesses of the Spanish industry?
The strength is the talent, from writers to directors, producers and crews. What is complicated is broadening the number of bigger projects from a production point of view.
There are a lot of small-budget films, of around €1m ($1.1m) or €2m ($2.2m), but financing bigger features is still a challenge. A film like Society Of The Snow is an exception to the rule, and demonstrates that when money is available to Spanish talents, results are great.
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