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You are in: Home > 2013. 61st Edition  > Festival Diary > Telefónica Studios ups the ante
Festival Diary » THE INDUSTRY CLUB
Telefónica Studios ups the ante
Tuesday, September 24th, 2013

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

Upcoming movies to receive Telefónica investment include Szifrón’s Relatos salvajes, produced by the Almodóvar rothers’ El Deseo and K & S, and Tadeo Jones 2, produced by Telecinco Cinema, El Toro Pictures and Ikiru.

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

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

Telefónica Studios will also contemplate co-production investment in other countries where it owns pay TV networks, such as Brazil, Peru, Chile and Venezuela.

It will also use its far- anging marketing muscle to promote the production sin which it has been involved.

Telefónica 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 its investment now outstrips obligation, said Fernandez-Vega Reasons cut several ways. Telefónica has seen spectacular success in recent investments. Four Telefe backed productions – Thesis on a Homicide, Corazon de Leon, Foosball and 7th have topped Argentine charts this year; Tadeo Jones” grossed over $50 million worldwide. Above all, LatinAmerica now reps 51% of Telefónica revs. Pay TV there has large growth potential, and seeks original programming. Telefónica is now looking to make a large virtue out of necessity.

JOHN HOPEWELL

EMILIANO DE PABLOS

 

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