The devil is in the details. On March 18, Spanish Prime Minister Pedro Sánchez announced that the government will plow €1.6 billion ($1.9 billion) over 2021-25 into a Spanish AVS Hub plan.
At San Sebastian on Wednesday, ICAA Spanish film agency director Beatriz Navas revealed some very first special Hub initiatives. Working with the Spanish Institute for Foreign Trade (ICEX), ICAA will put up €6 million as export aid to push Spanish films sales abroad, she said. The ICAA will also make a one-off extra contribution to Ibermedia, she added.
The big decisions on structuring the €1.6 billion Hub finance have still to be made, however. Also pending is a Council of Ministers decision on obliging OTT players to respect independent producers’ IP ownership, a move framed in Spain’s draft Audiovisual Communication Services Law.
The Hub presentation did serve to underscore the inter-ministerial collaboration which will be crucial for its success, however. The devil is not only in the details but the Hub’s execution.