You will be redirected back to your article in seconds

Telefonica Studios Ups Production Slate

SAN SEBASTIAN, Spain — Already co-producing movies – and far more than is generally imagined – in Spain and Argentina, giant Spanish telco Telefonica is stepping up to the plate, upping the coin, visibility and scale on its investment in film.

Upcoming movies to receive Telefonica investment include Szifron’s “Relatos salvajes,” produced by the Almodovar brothers’ El Deseo and K & S, and “Tadeo Jones 2,” produced by Telecinco Cinema, El Toro Pictures and Ikiru.

Telefonica Studios will oversee Telefonica investment worldwide, coordinating not just production but distribution in Latin America and Europe, where it owns pay TV networks in countries such as Spain, Germany, the U.K. and the Czech Republic, said Ignacio Fernandez-Vega, Telefonica Digital global contents director, at a presentation Monday in San Sebastian.

Working via Telefonica-owned free-to-air broadcast network Telefe in Argentina, plus multiple Telefonica divisions in Spain, Telefonica co-produced 25 films over the last five years. It will now achieve that number in three years, added Telefonica Studios director Axel Kuschevatzky.

Telefonica Studios will also contemplate co-production investment in other countries where it owns pay TV networks, such as Brazil, Peru – where feevee feed clients reached 912,500 – Chile and Venezuela.

It will also use its far-ranging marketing muscle to promote the productions in which it has been involved.

Telefonica faces a regulatory obligation in Spain to invest 5% of its TV revenues into Spanish movies or TV series. In Argentina, Telefe is obliged to co-produce eight movies a year.

But obligation is one thing, commitment another: Telefonica’s commitment now outstrips required investment levels, said Fernandez-Vega.

In movie terms, after years of adopting a low profile in its film investments in Spain, which included “Lope” and “Tadeo Jones” — Monday’s San Sebastian presentation repped a kind of official coming out in corporate society for Telefonica.

Reasons cut several ways. Telefonica has seen spectacular success in recent investments. Four Telefe-backed productions – “Thesis on a Homicide,” “Corazon de Leon,” “Foosball” and 7th Floor” — have topped Argentine charts this year, beating out Hollywood fare. “Tadeo Jones” grossed over $50 million worldwide.

Above all, Latin America now reps 51% of Telefonica revs. Pay TV there shows still large growth potential. If Latin American pay TV behaves anything like U.S. cable, that growth will be driven by original programming, among other factors. HBO and LAP TV are already avid buyers of movies for Latin America. Telefonica is now looking to make a large virtue out of necessity.

More Film

  • 'Icarus' Returning to Theaters After Russia

    'Icarus' Returning to Theaters Following Russia Olympics Ban (EXCLUSIVE)

    SAN SEBASTIAN, Spain — Already co-producing movies – and far more than is generally imagined – in Spain and Argentina, giant Spanish telco Telefonica is stepping up to the plate, upping the coin, visibility and scale on its investment in film. Upcoming movies to receive Telefonica investment include Szifron’s “Relatos salvajes,” produced by the Almodovar […]

  • Palm Springs Film Festival Programming Honchos

    Brains Behind Palm Springs Festival Programming Grilled

    SAN SEBASTIAN, Spain — Already co-producing movies – and far more than is generally imagined – in Spain and Argentina, giant Spanish telco Telefonica is stepping up to the plate, upping the coin, visibility and scale on its investment in film. Upcoming movies to receive Telefonica investment include Szifron’s “Relatos salvajes,” produced by the Almodovar […]

  • Baby Driver Wonder Woman Get OUt

    10 Best Uses of Music in Movies in 2017

    SAN SEBASTIAN, Spain — Already co-producing movies – and far more than is generally imagined – in Spain and Argentina, giant Spanish telco Telefonica is stepping up to the plate, upping the coin, visibility and scale on its investment in film. Upcoming movies to receive Telefonica investment include Szifron’s “Relatos salvajes,” produced by the Almodovar […]

  • Palm Springs Film Festival Spotlights Awards

    Palm Springs Fest Encourages Awards Season Binge Watching

    SAN SEBASTIAN, Spain — Already co-producing movies – and far more than is generally imagined – in Spain and Argentina, giant Spanish telco Telefonica is stepping up to the plate, upping the coin, visibility and scale on its investment in film. Upcoming movies to receive Telefonica investment include Szifron’s “Relatos salvajes,” produced by the Almodovar […]

  • Peter Jackson Harvey Weinstein

    Ashley Judd, Mira Sorvino Respond to Peter Jackson's Claims That Weinstein Blacklisted Them

    SAN SEBASTIAN, Spain — Already co-producing movies – and far more than is generally imagined – in Spain and Argentina, giant Spanish telco Telefonica is stepping up to the plate, upping the coin, visibility and scale on its investment in film. Upcoming movies to receive Telefonica investment include Szifron’s “Relatos salvajes,” produced by the Almodovar […]

  • 'Star Wars: The Last Jedi' Box

    'Star Wars: The Last Jedi' Rockets to $60.8 Million in Early International Openings

    SAN SEBASTIAN, Spain — Already co-producing movies – and far more than is generally imagined – in Spain and Argentina, giant Spanish telco Telefonica is stepping up to the plate, upping the coin, visibility and scale on its investment in film. Upcoming movies to receive Telefonica investment include Szifron’s “Relatos salvajes,” produced by the Almodovar […]

  • Bey Logan's Run as Harvey Weinstein's

    Bey Logan's Run as Harvey Weinstein's Point Man in Asia

    SAN SEBASTIAN, Spain — Already co-producing movies – and far more than is generally imagined – in Spain and Argentina, giant Spanish telco Telefonica is stepping up to the plate, upping the coin, visibility and scale on its investment in film. Upcoming movies to receive Telefonica investment include Szifron’s “Relatos salvajes,” produced by the Almodovar […]

More From Our Brands

Access exclusive content