PwC projects that Spain’s Entertainment & Media industry will exceed €45 billion by 2029, driven by digital advertising, streaming, and artificial intelligence. We analyze the investment implications and Gala Capital’s exposure to the sector through Secuoya.
Spain’s Entertainment & Media industry is expected to continue expanding in the coming years, consolidating its position as one of the sectors undergoing the most significant technological transformation and value creation.
According to the 26th edition of PwC’s Entertainment & Media Outlook 2025–2029, the Spanish market will surpass €45 billion in revenue by 2029, reflecting a compound annual growth rate of approximately 3%. This growth is not cyclical. It is structural, and it is being driven by three key forces: digital advertising, streaming, and artificial intelligence.
PwC identifies digital advertising in Spain as the most dynamic segment within the media ecosystem. The rise of programmatic buying, the expansion of Connected TV (CTV), and the digitalization of out-of-home advertising are reshaping how advertising capital is allocated.
Ad spending continues to shift toward measurable, targetable digital formats, while audiovisual consumption consolidates around on-demand, multi-platform environments.
This shift implies:
- Greater relevance of hybrid models (subscription + advertising)
- Improved operational efficiency through technology
- International scale as a competitive advantage
The sector is evolving toward more industrial, data-driven structures. This naturally leads to artificial intelligence, which is redefining content production, distribution, and monetization processes. Companies capable of integrating technology with operational scale will capture the majority of value in this cycle.
At Gala Capital, we analyze the media sector as a strategic vertical within our alternative investment platform.
Our exposure includes participation in Secuoya Content Group, through structured investment vehicles, backing production models with international ambition and strong technological adaptability.
We believe the growth projected by PwC is structural and that value will concentrate in scaled operators with financial discipline and an industrial mindset.
In an environment where content is strategic, capital structure makes the difference.
You can read the full report at: https://www.pwc.es/es/sala-prensa/notas-prensa/2026/industria-entretenimiento-medios-espana-crecimi…
