The delegate councilor for Tourism, Almudena Maíllo, has presented a report detailing the audiovisual sector's contribution to the municipal economy. The study, titled Dimension and Economic Impact of Feature Film and Series Productions in Madrid, reveals that production activity reached an annual average of 385.5 million euros. This figure translates into a contribution of 883.60 million euros to the Gross Value Added (GVA) and tax revenue of 367.3 million euros during the analyzed period.
The research, promoted by Madrid Film Office, the audiovisual office of the Madrid City Council, in collaboration with the L. R. Klein University Institute of Economic Forecasting at the Autonomous University of Madrid, analyzed 415 projects (173 feature films and 242 series) filmed in the city. The results highlight the socioeconomic impact of this industry, which extends beyond direct figures.
“"This study is an ambitious project that Madrid demanded as the audiovisual capital. We now know in detail the economic impact of filming, a sector that generates employment, investment, and activity in multiple productive areas. Added to this is its decisive contribution to the international projection of Madrid's image as a creative destination, as well as boosting tourism associated with this global visibility."
Of the total production impact, 988.7 million euros (64.12%) correspond to direct impact, derived from the expenses of production companies on personnel, rentals, and locations. This is complemented by 475.6 million euros (30.84%) of indirect impact, generated in the supply chain, and an additional 77.6 million euros of induced impact, resulting from the spending of workers and suppliers in the Madrid economy.
In terms of employment, filming created 10,101 full-time equivalent (FTE) jobs during the period, with wages totaling 562.6 million euros. This represents an average of 2,525 full-time jobs annually. Series stand out as the main driver, contributing 999.1 million euros in production (64.8% of the total) and 6,716 jobs (66.5% of total employment).
The study also reveals that for every euro of direct production, the total impact rises to 1.6 euros for series and 1.5 euros for feature films. In employment, the multiplier is 1.7 for series and 1.6 for feature films, confirming the ripple effect on suppliers and services. Furthermore, for every euro of municipal aid to audiovisual production, an estimated 11.78 euros are contributed to the Madrid economy, demonstrating the driving role of this industry in sectors such as logistics, hospitality, and construction.
