Parrot Analytics and ICEX reveal Spanish content dominance

Spain has discovered how to turn its creative talent into serious global business. In a joint presentation op Mipcomleading entertainment research company Parrot Analytics and Spanish trade and investment entity ICEXunveiled new data showing that the Southern European country is one of the most efficient and reliable sources of hit content in the world.

Spurred by generous federal and regional incentives, production in Spain has soared, with more shows increasing both in terms of quality and volume. The Spanish government’s active investments in the TV and film industries have encouraged local creators and also attracted foreign productions to film in Spain. A growing number of Latin American producers are also setting up outposts in Madrid in an effort to take advantage of the country’s incentives, caching and co-production pacts with a number of countries.

Spain even opened a support office in Singapore to boost their presence in Asia, where demand is up 63% year-on-year, according to a report to be unveiled at the annual confab in Cannes. The increase in Asia includes notable gains in Singapore (+127%), China (+75%) and India (+61%).

“Streamers need reliable bets,” he said Jaime OteroVP Partnerships, Parrot Analytics. “Spanish’s 26.1% hit rate – the highest in Europe and Latin America, second only to Korea – combined with +63% demand in Asia and a clear subscriber impact across all major streaming services, demonstrates a slate that is both broad and affordable. This level of insight re-risks investments, increases financial upside and separates the leaders from the rest.”

“These data are definitive proof that our strategic investments in Spain’s audiovisual sector are delivering remarkable returns,” said Luis Mayoral Gabaldón, director of creative industries at ICEX.

“A world-class hit rate is no accident; it reflects a deliberate national focus on excellence and innovation. A few years ago, we proved that our productions could scale and travel beyond our local market; we are now demonstrating a connection of our content across audiences, platforms, territories and genres that our global partners can trust.”

Otero pointed out that the Spanish audiovisual industry no longer relies on a few big hits as it did several years ago, but offers a wider diversity of content that performs well across all platforms and regions. Last year, JA Bayona’s Oscar-nominated ‘Society of the Snow’ was released Netflix series hit “Money Heist” and Prime Video‘Red Queen’ by ‘Red Queen’ has boosted the success of Spanish content worldwide.

“The share of Spanish titles, which account for 80% of Spain’s global streaming revenues, has almost doubled since 2020 (from 7.0% to 13.5% in the first half of 2025),” the report said.

Details revealed at Mipcom on October 13 include the following:

This year’s analysis builds on the $5.1 billion revenue base reported at MIPCOM 2024reflecting Spain’s tactical shift from promotion to data-validated ROI (Return on Investment).

Mipcom runs from October 10 to 16.