The audiovisual sector in Catalonia has grown by 7% and now generates more than 7,500 million euros

Catalan Economy · International Events

30 Jan 2024

Catalonia stands as the tenth region globally in foreign investment projects in the audiovisual sector and the fifth within the European Union.

Roger Torrent, the Minister for Business and Labour, announced on Tuesday that Catalonia's audiovisual sector has undergone a remarkable growth rate of 6.9% in 2023. This announcement is one of the main conclusions of a study carried out by ACCIÓ-Catalonia Trade & Investment, the agency for business competitiveness belonging to the Ministry for Business and Labour, in collaboration with the Audiovisual Cluster of Catalonia. The findings were published in conjunction with the Integrated Systems Europe (ISE), the world's premier audiovisual sector congress taking place this week in Barcelona.

Catalonia's audiovisual report, which you can access here, reveals that the sector is made up of 4,000 companies, marking an 8.3% increase from 2022, with a combined turnover of €7.566 billion, representing a 6.9% growth. Employment in the sector has grown by 14.1% over the previous year, boasting more than 37,000 workers. Predominantly composed of small and medium companies (98.6% of the total), 4.3% are subsidiaries of foreign companies.

As regards business volume, companies engaged in the development and production of audiovisual content, including film and television production, video games, immersive experiences, and production/post-production services, lead the sector with 48.3% of the total revenue and 40.5% of the total number of companies. Advertising and communication-focused enterprises follow closely, contributing 41.6% to the sector's revenue and representing 53% of the total companies. Distribution, radio, and television companies constitute 10.1% of the revenue and 6.2% of sector businesses.

Catalonia’s key assets in the audiovisual sector

In terms of global standing, the ACCIÓ-Catalonia Trade & Investment report underlines that Catalonia has attracted 73 foreign investment projects in the last five years (2019-2023), a 12.3% increase compared to the preceding period (2014-2018). These projects brought in an investment of €460 million, a 55.9% increase, creating 4,329 new direct job opportunities, a 33.6% rise. Catalonia stands as the tenth region globally in foreign investment projects in the audiovisual sector and the fifth within the European Union.

In terms of countries, the United States, the United Kingdom, France, Sweden, and Germany are the top five investors in Catalonia over the past five years. ACCIÓ-Catalonia Trade & Investment's report emphasizes Catalonia's appeal for its ability to attract skilled talent, the presence of a leading sectoral cluster, proximity to markets and consumers, and the existing technological and innovative ecosystem.

Catalonia's assets in the sector, as highlighted in the report, include the hosting of ISE, the world's most significant congress in this field, as well as the presence of specialized technological and research centers such as the Music Technology Group at Pompeu Fabra University, CVC, i2CAT, and Eurecat. Infrastructure like the Catalonia Audiovisual Park in Terrassa, Neàpolis in Vilanova i la Geltrú, Roca Umbert Center in Granollers, and TecnoCampus in Mataró further enhance Catalonia's position.

The report also underscores Catalonia's talent pool, with over 12,000 people enrolled in sector-related master's and degree programs. Catalonia has consolidated its status as one of Europe's most developed hubs for startups, boasting 235 audiovisual sector startups, an 85% increase since 2018.

Catalan participation in the Integrated Systems Europe congress

At the ISE congress in 2024, 80 Catalan companies and entities will showcase their services, representing a 10% increase from the previous edition. This positions Catalonia as the fifth territory with the most participants in the congress. Notably, 30 of these companies will be located in the Catalan Government Pavilion, organized by ACCIÓ-Catalonia Trade & Investment and ICEC, spanning 652 square meters. Additionally, within the congress framework, ACCIÓ-Catalonia Trade & Investment will drive the Open Innovation Challenge, facilitating meetings between companies and startups to foster open innovation, with the participation of companies such as LG, 3CAT, Kave Home, Lavinia, and AirParfum-Puig.

The Audiovisual sector in Catalonia

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