Skydance and Movistar Plus Go Co-Branded: Spain's Biggest Pay TV Operator Bets on HBO Originals

By Daniel Okafor

Skydance and Movistar Plus, Spain's largest pay TV and streaming operator, have expanded their strategic alliance to include co-branded original series under a joint Movistar Plus and HBO Original label. The deal extends distribution for two more years. It also covers HBO Max and Warner Bros. theatrical features on Movistar Plus, plus the former Discovery TV channels now folded into Skydance TV.

The new element is the co-development and co-production of series, distributed worldwide by HBO Max and Skydance. The first project out of the gate is "Veredicto," a Movistar Plus and HBO Original series produced with Ikiru Films ("Tad Jones and the Magic Lamp") and Luminol Media.

Why does this matter for HBO Max in Spain?

HBO Max is set to pass Amazon and become Spain's second-largest streamer by the end of 2026, according to Ampere Analysis. The numbers behind that growth are less flattering. Its Spanish catalogue represents just over 4% of its content by volume in Spain — half Netflix's share and a quarter of Amazon's, Ampere Analysis calculates.

The arrangement gives HBO Max the kind of local bundling deal that has already driven subscriber growth, advertising and local engagement in Germany with RTL+ and in Southeast Asia via Viu. It also deepens an existing courtship. HBO Max has signed a first-look TV deal with Domingo Corral, a former head of fiction at Movistar Plus and one of the architects of its move into premium series, and has unveiled a crime drama produced by Javier Calvo and Javier Ambrossi, created by "Anatomy of a Moment" writer Fran Araújo and "Querer" co-scribe Eduard Sola.

What does Movistar Plus get out of it?

For Movistar Plus, the alliance answers one of its main challenges: scaled international distribution. It also brings co-financing that lets its prize talent make the series they want, with the resources they need.

The operator's recent track record explains why Skydance wants in. Its ambitious series include:

• "La Mesías," from "La Bola Negra" directors Javier Calvo and Javier Ambrossi — the first Spanish series selected for Sundance
• "Querer," directed by Alauda Ruiz de Azua — winner of the top prize at Series Mania last year
• "The New Years," from "The Beloved" director Rodrigo Sorogoyen — selected for the Venice Film Festival

What is "Veredicto"?

The first joint project stars Nagore Aranburu, the lead of "Querer," alongside Ernesto Alterio, Alba Flores ("Money Heist"), Omar Ayuso ("Elite"), Secun de la Rosa, Alfredo Castro (Pablo Larraín's go-to actor), Marc Soler, Júlia Mascort, Cris Blanco and Mamen Duch.

Eduard Sola, Pol Cortecans and Daniel González created the series from an original idea by Carles Porta, Spain's master of true crime. A second Movistar Plus and HBO Original series is also in the deal: another Porta project, with Los Moriarti ("Maspalomas," "Marco," "The Endless Trench"), starring Anna Castillo ("Nowhere"), Pol López and Eduard Fernández ("The 47").

What did the executives say?

"This agreement strengthens our long-standing strategic partnership with Skydance and allows us to continue offering our customers one of the most comprehensive entertainment propositions in the market, combining the best user experience with some of the most recognized content and brands in the audiovisual industry," said Alfonso Gómez Palacio, CEO of Movistar Plus.

"Great stories have the power to bring audiences together around the world, and this expanded alliance with Movistar Plus will allow us to continue bringing Spanish viewers some of the most influential franchises, films, and series in our industry," said Alessandro Araimo, managing director and executive VP, Southern Europe at Skydance. "From iconic cinematic universes to original productions with the potential to become global phenomena, we share with Movistar Plus the ambition to deliver outstanding entertainment experiences and support a new generation of creators and storytellers."

Both partners describe the arrangement as a win-win. More announcements, the source notes, are to come — a phrase that in this business usually means the slate is longer than the press release.