Spanish Scripted Indie Insights: Zeta Studios (Netflix’s ‘Elite’)

Antonio Asensio (Source: Zeta Studios)

Spanish drama is reaching new shores around the world but what do the producers behind these shows make of the industry & its prospects for the future?

In this new strand of articles, TBI hears from the owners of four major Spanish indies to get their takes on the business. Today, we hear from Zeta Studios CEO Antonio Asensio and Marcelo Tamburri, director of international content.

Are you expecting the coming year to offer more opportunities than 2023 or fewer? Why?

We are very optimistic and always look to see opportunities. We do not believe that the issue focuses on a question of the number of opportunities, but rather the type of opportunities that are being presented and that will be presented in 2024. There is a much more strategic and precise view regarding the requirements of those who commission the productions.

We believe that the opportunities extend to the production of shows of higher quality and relevance, that support the commercial strategies of the platforms and TV channels, and that generate a true impact on the audience, due to their viewing numbers and by becoming a topic of conversation. We feel that leaving behind the race for volume has given way to the return of quality and the care that productions share codes and contexts specific to the target on which they are focused.

Marcelo Tamburri (Source: Zeta Studios)

The challenge, and consequently the identification of opportunities, for producers will be to take much better worked projects to commissioners with a view to raising the quality bar, but at the same time taking care that the values are in line with the realities of the current situation of the markets in which they were developed.

What do you foresee as the biggest challenge for your business in 2024?

Without a doubt, the biggest challenge will be to identify and work on projects that are attractive to commissioners, considering their strategic needs and their current cost scale. To continue working and associating the appropriate talent that allows us to project the growth and territorial expansion of our production company based on reliability – creative and economic – already achieved in the market.

Budgets seem to be stagnating in Spain but also globally. How are you planning to navigate this?

It is true, there is a new reality in terms of budgets. Current production numbers must listen to and align with the guidelines established by the financial teams of the commission companies. The challenge that all producers face is to recondition the reality of costs so that the business continues to be profitable and in accordance with the production requirements of the platforms and TV channels.

This implies that all of us, commissioners, producers, directors, showrunners, writers and actors, see reality through the same glasses. On our side we will make the logical efforts and re-engineering of development and production to seek to adapt to the new economic reality while defending the banner of quality. Quality and spectacular series come at a cost. The absurd thing is wanting to make Avatar with the budget of Wayne’s World.

Where is the biggest opportunity for growth for your business this year?

In the growth of international business. We consider that expansion into markets such as Mexico and the US will open new and solid opportunities in the future and will allow us to use synergies, benefits and regional economic incentives to give us greater capacity to adjust budgets to preserve and increase the size of productions within reasonable costs.

What are the key shows for your business this year?

There are several important projects this year at Zeta Studios. The eighth and final season of the famous series, Elite, and Red Flags, a new coming-of-age series created by Nando López, for Atresplayer Premium; a comedy directed by Mar Olid for Telecinco Cinema named Al Otro Barrio and Hamburgo, Lino Escalera new film starring Jaime Lorente for cinemas.

In production, we have the film adaptation of Follow My Voice, the well-known Wattpad novel written by Ariana Godoy, produced by Zeta Studios together with Beta Fiction Spain and the first Spanish production of Wattpad WEBTOON Studios to be released in cinemas.

We also have When Nobody Sees Us, a series based on the eponymous novel by Sergio Sarria, directed by Enrique Urbizu for Max. Last of all, under development, we have The Chauffeur’s Son, a series directed by Isaki Lacuesta that is based on Jordi Amat’s book about Catalan political corruption. And of course there are other projects still to be announced.