Movistar Plus is preparing a major strategic shift as it seeks to strengthen its position against to take on streaming giants such as Netflix, Prime Video and HBO Max.

The Spanish pay-TV platform, owned by Telefónica, has decided to double its annual audiovisual production budget from €100 million to €200 million, significantly increasing its commitment to Spanish films, series and documentaries.

The move represents one of Telefónica’s largest recent investments in original content and comes at a time when the telecoms group is undergoing a broad restructuring programme that includes cost-cutting measures, workforce reductions and management changes.

Telefónica’s board has approved plans to expand investment in scripted content following proposals backed by Movistar Plus non-executive chairman Javier de Paz. The platform is expected to meet with around 40 production companies in the coming weeks to discuss potential projects, according to El Confidencial.

The strategy reflects a growing belief within the company that exclusive content is essential to compete with global streaming services. While sports rights remain a cornerstone of the platform’s offering, Movistar Plus increasingly sees original productions as a key differentiator in an increasingly crowded streaming market.

The investment boost follows several years of subscriber pressure in Telefónica’s traditional premium television business. Although the operator’s high-value convergent TV base has declined from historic peaks, Movistar Plus has expanded its standalone streaming proposition, helping total subscribers approach 4 million. The platform added 86,000 net customers during the first quarter of the year.

The decision is particularly notable given Telefónica’s wider cost-reduction programme. The group has launched workforce restructuring measures affecting thousands of employees, including around 245 positions at Movistar Plus itself.

Sports rights remain firmly protected within the company’s strategy. Movistar Plus has secured LaLiga rights until 2032 and UEFA Champions League rights until 2031, underpinning its premium pay-TV proposition.

With sport continuing to drive customer retention, Telefónica is now positioning original Spanish-language content as the second pillar of its strategy, aiming to create a stronger identity capable of competing with global streaming platforms while reinforcing its role within Spain’s audiovisual industry.

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Categories: Articles, Broadcast, Content, Production

Tags: Movistar Plus, spain, telefonica