The Secuoya Group became Netflix’s exclusive production services partner in 2018, a recent milestone for one of the most diversified and growing media companies in Spain.
Launched by Raúl Berdonés 10 years earlier, as Spain plunged toward a recession, Secuoya found its market niche in production services and business process outsourcing, sectors in which it still plays a leading role today.
“Secuoya’s philosophy has been steady growth, maintaining from the first day a 20% EBITDA [operating profit] margin,” says Jesús Muela, deputy director at GVC Gaesco Valores. “In eight years, it’s multiplied sales 3.5 times over.”
Scripted production highlights include “Apaches” and “Vive Cantando” for network Atresmedia, and “Victor Ros” for pubcaster RTVE.
In 2019, content arm Secuoya Contenidos produced more than 1,500 hours of entertainment and factual programming. Other clients include A Punt, ETB, Telemadrid, Canal Sur and Aragon TV, Movistar Plus, Rakuten, Netflix, Amazon and Disney Plus.
Secuoya’s growth story comes in one of expansion from this base.
Berdonés and partner Pablo Jimeno have also rapidly exported their model.
In Chile, Secuoya produces TV series (“Pacto de sangre,” “La Reina de Franklin”), teaming with AGTV Producciones, and offers outsourcing services to network Canal 13.
It produces hit “Mujeres sin filtro” for Peruvian network América TV, provides outsourced services for pay TV Claro in Colombia, and, via Secuoya U.S., to Miami-based theme channel Hola TV! In Mexico, Secuoya Mexico is developing a business alliance with Grupo Multimedios.
Twenty percent of the group’s sales now come from international, says Muela.
Secuoya’s search for market opportunities has seen it ramp up content production.
For Berdonés, “one of the challenges in this area is the recognition of talent value, allowing production companies to see profits maintaining their business structures in a globalized market.”
Madrid Content City, where Secuoya will be offering services and resources to companies hiring the studios, is another response to
market demand.
Another bet on diversification is Iberseries, a Granada-set event backed by Secuoya Foundation designed to become the Spanish-speaking world’s top TV festival.
“Iberseries aims to strengthen Spain’s brand via its fiction sector, to reinforce the industry and reward talent,” says Berdonés.