The Government will invest 44 million euros in the Spanish audiovisual fund Culture CAP7 to facilitate the financing of audiovisual productions , according to a decision made today by the Council of Ministers at the proposal of the Minister for Digital Transformation and Public Service , Óscar López.
This transaction is part of the Spain Audiovisual Hub plan and will be channeled through the Spanish Society for Technological Transformation (SETT). Culture CAP7 is an innovative fund dedicated exclusively to the cultural and audiovisual sector . The fund's management company was founded in 2014 and has a presence in the Basque Country and Madrid. It is backed by the European Investment Fund (EIF) and has an experienced team in the industry and privileged access to the financial and advisory community in Spain, as well as to the entire media sector in Spain and internationally.
“We want to continue consolidating Spain as a leading production center in Europe , contributing to the healthy growth of employment and the growth of the sector. Since we launched the Spain Audiovisual Hub, employment in the sector has increased by 107% in the last five years, and box office receipts in 2024 were 93% higher than those recorded in 2021. Spain already ranks fourth in European film and TV series production and is a leader in the European Union in streaming platform investment in original European content,” highlighted Minister Óscar López.
This investment by SETT in Culture CAP7 represents a strategic opportunity to increase the reach of these funds in the Spanish market, as its activity is geared toward promoting Spanish SMEs with growth potential operating in this industry. It will primarily impact production, distribution, and the development of the service ecosystem necessary to carry out productions, strengthening the Spanish audiovisual sector and providing greater resources to compete in the global audiovisual market . Furthermore, this transaction will contribute to the creation of new companies and the strengthening of existing ones, with the aim of boosting job creation and consolidating an innovative business environment.
First operation of the second phase of the Audiovisual Hub
This is also the first operation in the second phase of the Spain Audiovisual Hub Plan , an initiative that is part of the Recovery, Transformation, and Resilience Plan. Led by the Ministry for Digital Transformation and Public Service, through the State Secretariat for Digitalization and Artificial Intelligence (SEDIA), this second phase is mobilizing €1.712 billion in financial instruments, aimed at supporting the consolidation of the sector, providing it with greater resilience and operational capacity in the global market.
In the first phase of the Plan, €1.6 billion has already been invested since 2021, through grants that have benefited various stakeholders in a sector that encompasses not only film, but also digital technologies, video games, and experimental development and innovation projects.
Along with the Spain Audiovisual Hub , the SETT manages two additional financial instruments to boost the technology business ecosystem: PERTE Chip , dedicated to microelectronics and semiconductors, and Next Tech , which incentivizes private investment and improves access to financing in strategic Spanish sectors linked to digital transformation
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