Netflix’s Vice President of Spain, Diego Ávalos, once stated that Hollywood should be envious of Spain’s achievements in the entertainment industry. And with the immense popularity and critical acclaim of Spanish filmmaker J.A. Bayona’s survival thriller, “Society of the Snow,” it’s clear that Ávalos’ statement holds weight. The film secured the fourth spot among Netflix’s most-watched non-English films, accumulating nearly 200 million viewing hours. But this success is not limited to just one film. Spain has become a powerful content hub for Netflix.
Alongside the success of “Society of the Snow,” the Spanish production industry has been delivering a string of hits. One such example is the original series “Elite,” which is now headed towards its eighth and final season. Another success story is the survival thriller “Nowhere,” which enjoyed international acclaim on Netflix, spending an impressive 15 weeks in the streaming company’s top 10 weekly rankings and even reaching the second spot among the platform’s most popular non-English films, with 155.6 million hours watched.
Netflix’s Spanish success story started in 2017 with the release of Alex Pina’s heist thriller “La Casa De Papel” on their Spanish streaming service. Although it had minimal promotion, the series became a local sensation, prompting Netflix to repackage it for English-speaking audiences under the name “Money Heist.” By 2018, “Money Heist” became Netflix’s most-watched non-English series, with three seasons ranking among its top 10 international series seasons of all time.
Building on the success of “Money Heist,” Netflix expanded the franchise. In 2022, they released a two-part South Korean adaptation that attracted a massive audience. Additionally, the prequel series “Berlin” debuted at the top of Netflix’s charts in December, accumulating a staggering 277.7 million viewing hours within its first three weeks.
The success of Spanish titles like “Berlin” and “Nowhere” significantly contributed to Netflix’s remarkable 13% growth in the EMEA (Europe, Middle East, and Africa) region during the fourth quarter, generating over $10.56 billion in revenue in 2023. This achievement surpasses Netflix’s performance in any other territory outside the United States and Canada.
Netflix’s overarching strategy for international acquisitions revolves around investing in local creators and providing resources for the production of content tailored to local audiences. In return, the streaming giant benefits from the breakout global success of a few carefully chosen titles, similar to how the popularity of “Squid Game” led to increased investment in Korean content. Following the triumph of “Money Heist,” Netflix has continued to channel more resources into Spain and other Spanish-speaking countries, firmly establishing their presence in the region.
In conclusion, Netflix’s Spanish content strategy has undeniably paid off. By nurturing local talent and capitalizing on successful titles, the streaming giant has solidified Spain’s position as a hotbed of creativity and innovation. With a continuous influx of quality content, Spain’s impact on the global entertainment landscape shows no signs of waning.