Telefónica and Atresmedia create a joint company for fiction production in Spanish around the world

The new company, 50% owned, will produce original series and films for Movistar+ and Atresmedia, as well as for third-party operators.

Telefónica y Atresmedia will add talent and resources to optimize and gain scale in your business content creation and distribution and be more competitive in the international industry. The two entities have sealed an agreement of intentions that will culminate with the creation of a company, 50 percent owned by both groups, which will produce and distribute original series and films for both Movistar+ and Atresmedia. Furthermore, the agreed alliance will energize the Spanish audiovisual sector by promoting co-productions with other companies and producing for third parties.

Both companies will add talent and resources to optimize and gain scale in their content creation and distribution business, being more competitive against the large international players that continue to break into the framework of a globalized sector.

The agreement, still pending approval by the Telefónica Delegated Commission, has been reached by Silvio Gonzalez, CEO of Atresmedia, and Emilio Gayo, president of Telefónica Spain. The 50 percent participation reflects the balance of the two partners in their contribution to achieve the synergies and the expected value of the operation.

The new production company will generate a significant volume of direct and indirect jobs, it will have the talent and the necessary means to develop the number of projects that require both the partners' capabilities and commercial development for other clients and operators.

In this way, an alliance is produced between two of the world's leading Spanish fiction factories. Atresmedia has been, for years, a recognized brand in national and international markets and viewers; being the creator of highly successful series and films among audiences in different countries and achieving some of the most prestigious global awards, such as the Emmy Award. Series such as The Paper House, Vis a Vis, El Tiempo Entre Costuras, Velvet, Gran Hotel, El Internado, El Secreto de Puente Viejo… and feature films, produced by Atresmedia Cine, such as La isla minima, Contratiempo, El Reino, During the Storm or Palmeras en la Nieve, highlight the enormous value of the Atresmedia label in Spanish-language fiction on a global level.

For its part, Telefónica, through Movistar+, has evolved original Spanish fiction production with a differential and risky value proposition in the entertainment market. A commitment to Spanish talent and series that claim their own identity. A model created from the vision of the creator and that has kept its promise to the Movistar client with the launch of 12 projects a year. To Fish by Alberto Rodríguez and Rafa Cobos, Look what you've done by Berto Romero, Shame by Juan Cavestany and Álvaro Fernández Armero. successes like Madrid burns by Paco León and Perfect Life by Leticia Dolera that have been recognized by the national and international industry. Co-production projects such as Hierro y On Death Row. Y The Embarcadero, a project by Alex Pina and Esther Martínez Lobato. and developed by Atresmedia Studios for Movistar+. Movistar+ premieres its first original film this week, While the war lasts, by Alejandro Amenábar.