Telefónica follows Netflix and opens production studios

Rapid TV News

Juan Fernandez Gonzalez | 24-09-2013

Telefónica has decided to emulate Netflix’ successful model and go down the production road by creating Telefónica Studios, the company’s new global content production brand. The telco surprised the industry with this announcement which took place at the San Sebastián International Film Festival.

The Spanish company, which leads telecoms markets in Latin America and some European countries, has decided to move forward in the TV business and wants to “consolidate the company as an important player in the international scene, being a fount of quality projects for the Hispanic markets and looking to the English ones for the future,” the company stated in a release.

The telco has also pointed out that it’s planning to produce exclusive content for its pay-TV and on-demand platforms Movistar TV and Movistar Play.

But Telefónica is not a new player in this business. The company currently produces between ten and 12 films per year, and three of its subsidiaries – Telefé, Media Networks and Telefónica España –have also attempted to produce movies and series.

Among Telefónica’s latest successful projects are Tadeo Jones and El Secreto de Sus Ojos, films which have been premiered in over 50 countries. Regarding series, the telco recently co-produced Isabel and Amar en Tiempos Revueltos, both successes with audiences on TVE.