Profits nearly doubled and turnover hit record levels at Zorro producer Secuoya Content Group last year, according to the Spanish major’s latest financials.
The outfit said EBITDA rose 85% to €59.1M ($67M) for 2024 fiscal year, while revenues shot up by 33% to a record €142M. Additionally, the group experienced a 51% increase in adjusted EBITDA, 118% growth in EBIT and a 214% rise in consolidated net profit, according to Secuoya.
Secuoya said the “outstanding results are a direct consequence of the strong performance of Secuoya Studios, which has become the main pillar of value creation for the company and a benchmark in the industry for content creation, production, post-production, and distribution.”
Last year, the 2,000-staff company shot five series and four movies totalling 156 hours of content, having doubled down on the studio and launched a production hub in Colombia. We revealed in Feb that Secuoya had struck a first-look development and production deal with The Castaways and This Time Next Year producer BlackBox Multimedia.
Recent titles include Los 39, a Colombia-Spain co-production, along with Shades, Terra Alta, Arcadia, The Crossroads and Padres.
Raúl Berdonés, founder and executive chairman of Secuoya Content Group, said: “Four years ago, we made a bold decision to pivot from a service-based business model to become a content-driven company. Today, the results validate that choice. Our strategy—focused on retaining intellectual property, diversifying content exploitation, optimizing tax incentives, ensuring creative freedom, and building a solid and sustainable international expansion—is proving to be profitable, scalable, and competitive.”
Last year, we analyzed how Secuoya was planning to be a bridge between Hollywood and Spain after launching its most ambitious production to date: the modern take of Zorro, directed by Money Heist helmer Javier Qintas and starring Miguel Berardeau as the dashing vigilante created by Johnston McCulley.
Since then, rival Mediapro has also launched a U.S. studio with projects featuring John Turturro and Melissa Leo.
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