Spain's State Fund Puts €215.6m Into Film, TV and Games
Spain's state-backed screen investor has put €215.6 million ($252.3 million) into film, TV, video games and new technology over the past 12 months.
The figure covers the activity of SETT, the Sociedad Española para la Transformación Tecnológica, which acts as the investment arm of the Spain Audiovisual Hub. Details were reported by Variety on 19 September 2026.
That public money has pulled in more private money. SETT's investments triggered a further €230 million ($269.1 million) in matching private-sector investment, according to María González Veracruz, Spain's secretary of state for digitalization and artificial intelligence. SETT sits inside the Ministry for Digital Transformation and is financed through the European Union's Next Generation funds. The Spain Audiovisual Hub is a key element of Spain's post-COVID Recovery Plan.
The money comes with strings. SETT invests for up to 10 years in companies with a slate of productions, meaning a portfolio rather than a single film or series, and it requires private-sector partners to co-invest alongside it. Eleven of its 15 investments have been made public to date.
The disclosed list spans the production chain. In animation, it includes Anima Kitchent, Amuse Animation and Planeta Junior. In live-action production, it includes Good Films Studios Spain, Ítaca Films Madrid and Moonlighting Studios Spain. It also backs post-production facilities Lazona Audiovisual Hub and the Refinery, plus Impulse Studio as a production-distribution player.
The largest public example is Good Films. SETT has taken a 46% stake for €19.8 million ($22.6 million) in Good Films Studios Spain, a move authorised by Spain's Council of Ministers, according to a Spanish government release. The intention is to establish an independent production studio in Spain able to handle large international projects.
Good Films is based at Ciudad de la Luz, one of Spain's biggest studio complexes. It aims to make English-language films budgeted at €15 million to €25 million ($17.5 million to $29.3 million).
The push fits a wider plan. Spain outlined a €1.7 billion investment plan for the audiovisual sector, with a revised target of reaching €713 million in industry revenues by 2026, according to Cineuropa. Separately, Netflix said it planned to invest over €1 billion ($1.14 billion) to produce content in Spain over the four years to 2029, Reuters reported in 2025.
Industry attention now turns to San Sebastián. The San Sebastian Film Festival runs from 18 to 26 September 2026, and its professional programme lists a session titled 'SETT and Spain's Audiovisual Industry' from 10:35 to 11:15, part of an event billed as 'The New Script of the Audiovisual Industry' on Sunday 20 September at the Kursaal.
For viewers, this means more shoots on Spanish stages. For crews, it means longer slates and longer contracts if the co-investment model holds.
