Mexican Producer Ítaca Films Launches Spanish Subsidiary with State Support

The Mexican audiovisual production company Ítaca Films is expanding its operations into Spain with the establishment of Ítaca Films Madrid. This new subsidiary receives a significant boost from the Spanish government, which is contributing an initial investment of 20 million euros (approximately $23 million).

The Spanish government, through the Sociedad Española para la Transformación Tecnológica (SETT), approved the investment to facilitate the studio's setup in Madrid. This funding is part of a larger public-private investment totaling 45 million euros, involving Ítaca Films and Grupo Omegas Capital, aimed at drawing foreign capital into the audiovisual industry.

Spain anticipates that Ítaca Films Madrid will stimulate 419 million euros (around $486 million) for the development of 26 audiovisual productions over the next decade. The company, founded in Mexico in 2010, has a global track record, having participated in over 90 titles across 18 countries and collaborated with major international studios, platforms, and distributors.

Ítaca Films specializes in film, television, digital platforms, and new formats, covering development, production, and content exploitation. Spain was chosen for its robust audiovisual ecosystem, including creative talent, competitive tax incentives, and strategic location for European and Latin American markets. The project also projects the creation of 20 to 40 direct, permanent jobs, and an average of nearly 900 annual direct and indirect jobs related to filming and auxiliary services.