Local productions
In 2022, Netflix recorded by far the highest number of subscribers among SVOD services in Spain at around 6.5 million. Other international subscription streaming services that are available in the country include HBO Max, Amazon Prime Video, and Disney+ and amassed over two million customers each. Local and recently relaunched platform Moviestar Plus+, owned by telecommunications company Telefónica, had only 320,000 subscribers. Yet, in Spain, domestically produced content is not only popular in the country itself but also in other markets worldwide. Crime TV show “Money Heist,” for example, can be watched in nearly every country and was dubbed or subtitled in more than 30 languages. “Money Heist” belongs to the most viewed non-English language Netflix series of all time and secured several awards. Furthermore, around 80 new Spanish scripted TV shows will be launched in 2023, and in the upcoming years, the number of productions and demand for Spanish content will likely continue to grow.Viewers reevaluate their streaming choices
Although subscription-based viewing is still the most popular streaming option, the SVOD market in Spain is struggling, a trend which can also be observed in many other countries. Subscription prices are on the rise, and more than half of Spanish internet users interviewed in a 2023 survey about paying for streaming services stated that they would only be willing to pay a fee of under three euros per month or would prefer not to pay at all. Additionally, password sharing is a fairly popular practice in Spain – over half of respondents to another survey used the Netflix or Disney+ credentials from someone else. Thus, the country was among the first markets worldwide in which Netflix launched its paid sharing feature in the beginning of 2023. Consumers promptly reacted and the streaming giant lost a significant market share.Audiences also attempt to evade high subscription fees by switching away from paid streaming towards ad-supported options. In order to stay or to become profitable and to avoid churn, direct-to-consumer businesses such as Netflix, Disney+, and HBO Max have already introduced lower-cost ad-based plans. This measure seems to be paying off as the majority of Spanish consumers prefer to watch some ads for a reduced subscription fee, according to a survey from early 2023.
