Spanish television channels have increased their investment in European audio-visual works by almost 50%
The CNMC (National Commission on Markets and Competition) has published the report related to the fulfilment of the obligation to finance European audio-visual works in 2016.
The national service providers of audio-visual communication have invested a total of 269.12 million euros in European audio-visual works throughout 2016, which represents an increase of 49.56% over the previous year (179.93 million euros).
This significant increase in joint investment is mainly due to the investment increase in TV series during the year. Thus, during 2016 investment in TV series in Spanish languages has increased by 188.17%.
The provider with the highest investment has been Atresmedia with 101.98 million euros (78.9 of them in series), followed by Mediaset with 42.29 million euros and RTVE with 41.28 million euros.
Taking into account the type of work, the main destination of the investment made in 2016 has been in Spanish series, amounting to 155.14 million euros, 188.17% more than in the previous year. The investment in cinema was 75.62 million euros, surpassing that of 2015, which was 70 million euros, thus reversing the downward trend in the four previous years.
The LGCA obliges audio-visual communication service providers or telecommunications operators that broadcast television channels to allocate 5% of their operating income (6% if it's a public company) to finance any type of European audio-visual work. 60% must be allocated to the production of cinema films and, in turn, 60% of said percentage to works in one of the co-official languages of Spain (75% and 60% respectively, if it is a public company).
The CNMC is responsible for controlling the annual compliance with this obligation. The governments of the Autonomous Communities carry out the same control role in their respective regional levels.