Telefonica and Atresmedia join forces to create Spanish-language fiction content around the world. The two companies have ran an agreement in order to create a new entity, 50 percent owned by both groups, which will produce and distribute original series and films both for Movistar+ and Atresmedia. Apart from that, the partnership will promote co-productions with other companies and produce contents for third parties.
‘Telefonica and Atresmedia will add talent and resources to optimise and scale up in their content creation and distribution business, being more competitive against the big international players that continue to break into the framework of a globalised sector’, they officially reported. The agreement -pending approval by Telefonica’s Executive Committee-, was ran by Silvio Gonzalez, CEO at Atresmedia, and Emilio Gayo, CEO at Telefonica in Spain.
According to what was reported by the companies, the project that partners them ‘will continue to bet on audiovisual production in Spanish’. It is based on ‘a competitive production company that will generate a significant volume of direct and indirect jobs, will have the talent and means necessary to develop the number of projects that require both the capabilities of partners and commercial development for other customers and operators’.
Both Atresmedia and Telefonica have developed local and global successful original productions. Some of them are La casa de papel, Velvet, Vis a vis, Arde Madrid, La peste, El tiempo entre costuras, Hierro, En el corredor de la muerte, El embarcadero, and many others. Recently, Telefonica announced an original series production plan in Latin America during 2019 and 2020 in Argentina, Chile, Colombia, Peru and Mexico.