Madrid has established itself as the main destination for musicals in Spain, with a turnover of 110 million euros in this discipline, representing the majority of the 160 million euros generated by the theater sector. Currently, 60% of theater seats in Madrid are privately owned, reflecting strong private capital investment in the industry.
Despite public cultural budget cuts due to the economic crisis, musical theater has experienced notable growth in Madrid, standing out as a dynamic and expanding sector. Two main producers lead this trend: Stage Entertainment España and the Spanish company SOM Produce.
Stage Entertainment, with an international presence, has brought Broadway and West End productions to Spain such as The Lion King, Les Misérables, and Mamma Mia. Additionally, in 2017 it strengthened its presence on Madrid’s Gran Vía by acquiring the Coliseum and Lope de Vega theaters.
On the other hand, SOM Produce, founded in 2011, has focused on 100% Spanish productions like The Sound of Music, Priscilla, Queen of the Desert, and Billy Elliot, which has attracted over one million spectators in Madrid. In 2019, the Spanish fund Gala Capital invested in SOM, showing growing investor interest in the sector. Currently, SOM Produce operates five theaters in Madrid with a total of 4,633 seats.
In 2018, musicals earned 110 million euros, surpassing the 102.5 million euros collected by the Spanish film industry that same year. Although producers avoid confrontations between the two sectors, they acknowledge the importance of public support and the economic relevance of musicals, which generate employment and attract tourism to Madrid.
SOM Produce is also committed to artistic education: after training 180 child performers for Billy Elliot, it plans to open a performing arts school in 2021 for about 300 students annually, in collaboration with university entities. Additionally, it is preparing the arrival of Grease at the Nuevo Teatro Alcalá, incorporating young artists trained in its programs.
