In the cultural industry, Spanish companies are at the forefront of Europe. And they bill one out of every five euros earned in the EU, nearly €40,000m in 2021, according to Eurostat data published last week. It also brings together the largest number of employees; approximately 400,000, although there are between 25,000 and 50,000 additional firms each in France and the Netherlands. The document addresses all companies involved in creative, artistic and entertainment activities.
It is estimated that up to a year and a half ago, there were more than one on the continent 700,000 companies in this sector; Mostly less than 50 employees. Despite their small size, they bring together 90% of the staff, according to data from the European agency, while only 3% work for a large company.
The data released by the European Statistical Agency confirm the privileged position that Spanish companies occupy in the cultural sector, although they come from a difficult time due to the pandemic. In that time, the number of shows has fallen by nearly 50% and collection has fallen by more than 70%, the General Assembly of Authors and Publishers (SGAE) reports. In addition, due to the multiple closures of theatres, cinemas and other art venues, more than 42,000 jobs were lost in 2020. Three years later, the scenario is very different: The industry has experienced a steady recovery And she hopes to be able to access the same group at the end of this year as in 2019, before the health crisis hit. At that time, the sales volume of the entire industry was about 240,000 million.
From a long-term point of view, the outlook for the Spanish entertainment circuit is better. The latest version of the report Horizons Entertainment and MediaPrepared by PricewaterhouseCoopers Segment revenues will grow by more than 5% through 2026, half a point more than the industry as a whole globally. The recovery has been attributed to business opportunities being created in emerging industries, specifically podcasts, where the audience is expected to grow to 26.6 million listeners and generate revenues of approximately €600 million. On the other hand, a decline in television and newspapers is expected due to lower advertising and lower print media readership.
The Big Four believe that in the coming years, the entertainment and media industry will “stand out for its ability.” Adapting to a more digital worldmore mobile, highly dependent on advertising in all its forms, and highly influenced by the choice of young consumers”. It is a development that SGAE agrees with, and which indicates that at least in the music sector, the weight of the digital market in Spain continues to grow, having already accumulated 83% of total sales. In the case of video, the flow It is already used by more than half of the population.
The importance of the cultural sector in the country prompted the government to Approval at the beginning of this year on the artist’s statute, which substantiates historical claims such as the special unemployment benefit for artists and technicians in the performing, audiovisual, and musical arts; improving the compatibility of pension with technical activity; and the special rate for self-employed artists whose annual net income does not exceed €3,000.
In any case, there are still outstanding issues such as taxation, such as the treatment of irregular income and deductible expenses or the possibility of considering the sale of an artwork as a financial transfer, as well as representation and collective bargaining, or aspects related to the training regime.