Skydance and Movistar Plus Expand Spanish Alliance with Co-Branded Originals

Streaming has evolved into a global chess game, with significant moves often occurring far from Hollywood. Local-language series have emerged as some of the most valuable assets in the industry, prompting companies to secure the talent behind them. This week at the MIPCOM market in Cannes, one such strategic move was unveiled.

Skydance and Movistar Plus, Spain’s leading pay TV and streaming operator, have announced an expansion of their strategic alliance to include co-branded original series. This new two-year global agreement builds on their existing distribution relationship, adding co-development and co-production elements. Variety referred to this as a significant win for both parties, and rightly so.

Central to the deal is a new joint label, Movistar Plus and HBO Original. The companies will co-develop and co-produce select Spanish series under this banner, which will premiere simultaneously on Movistar Plus and HBO Max in Spain, as well as in key HBO Max markets worldwide. Global distribution will be managed by HBO Max and Skydance.

The initial lineup features a notable title. ‘Veredicto’ is based on an original concept by Spanish true-crime expert Carles Porta and is produced in collaboration with Ikiru Films, known for ‘Tad Jones and the Magic Lamp’, and Luminol Media. A second series from Porta and production company Los Moriarti, recognized for ‘Maspalomas’, ‘Marco’, and ‘The Endless Trench’, will star Anna Castillo, Pol López, and Eduard Fernández.

Spanish media coverage highlighted that both projects had already been announced. The new label will now feature joint branding and the international reach that accompanies it, marking a significant enhancement for series that might have otherwise remained primarily within the domestic market.

The expanded alliance extends beyond originals, encompassing streaming, television channels, film, and sports rights, with Movistar Plus maintaining HBO Max’s integration into its platform. Customers will continue to access HBO Max’s catalog through the Movistar Plus experience, and the deal also includes select Skydance TV channels, major Warner Bros. theatrical releases, and new content agreements.

Reports indicate that the HBO Max integration, which began in 2024, will also extend to the O2 service. Artwork accompanying the announcement showcased titles such as ‘Lanterns’, ‘Supergirl’, ‘FBI’, ‘House of the Dragon’, and ‘The Gilded Age’, highlighting the substantial flow of Skydance-controlled programming on the Spanish platform.

The timing is significant. According to C21, this marks the first strategic agreement Skydance has announced since Paramount Skydance completed its acquisition of Warner Bros. Discovery this month, a deal that consolidates brands like HBO, HBO Max, Warner Bros., Paramount, and CBS under one umbrella. Variety similarly noted that this is among the first announcements from David Ellison’s company following the merger.

This makes the Movistar Plus agreement a statement about how the combined company intends to operate internationally. Instead of solely relying on global flagships, it is focusing on local partnerships and talent. For Movistar Plus, this alliance provides scaled international distribution and valuable co-financing, enabling esteemed creators to realize their visions.

Alessandro Araimo, Skydance’s managing director and executive vice president for Southern Europe, stated in the announcement, reported by Variety, that the partnership aims to deliver Spanish viewers influential franchises and “original productions with the potential to become global phenomena.” He emphasized that both companies share a commitment to nurturing a new generation of creators and storytellers.

Movistar Plus CEO Alfonso Gómez Palacio remarked that the agreement reinforces a long-standing relationship and allows the platform to continue offering customers one of the most comprehensive entertainment propositions available. The companies aim to broaden the reach of Spanish productions and provide local creative talent with new opportunities for international exposure.

Owned by Telefónica, Movistar Plus has established a reputation for producing prestige drama. In recent years, it has launched 10 to 11 series annually, with originals like ‘Querer’ and ‘Celeste’ winning the two top awards at Series Mania in 2025. A partnership with HBO Max amplifies that ambition significantly.

For global audiences, this deal could lead to an increase in Spanish series that carry the polish and reach associated with the HBO label, particularly as non-English content increasingly gains traction worldwide. It also signals a shift in the streaming industry, where co-productions are becoming the preferred model over pure licensing. Whether ‘Veredicto’ will emerge as the next international sensation remains to be seen, but the framework is now established.

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