Spain’s Indie Distribution Surges but Large Challenges Remain, Highlighted at Valladolid’s Merci Market

Spain’s indie film distributors are flexing growing box office muscle — and attracting a broader range of buyers to Valladolid’s Merci market. Presented at Merci, Rentrak figures showed that members of Adicine, Spain’s leading association of independent film distributors, saw box office receipts rise 45% through September. Elastica Films’ “La Bola Negra,” released Sept. 25, has since added to that momentum with its blockbuster theatrical run. Yet stronger returns have not eased the battle for screens. At Merci’s sixth edition, distributors, exhibitors and streaming executives confronted crowded release calendars, last-minute bookings and a theatrical market increasingly reliant on a handful of hits. Rebuilding the Middle “There are 14 or 15 releases every week, Spanish and international. Neither audiences nor cinemas can absorb that,” warned Wanda Visión’s Miguel Morales at the Merci roundtable “Cinemas, Distributors and Platforms: Together for Audiences.” Morales pointed to Spanish and French comedies that once drew 100,000 admissions but now struggle to reach 10,000. Screen bookings, he added, can remain unconfirmed until the week before release, undermining publicity campaigns. “Sometimes 80% of a weekend’s box office may come from just one film. That’s not healthy either,” said Beta Fiction Spain CEO Mercedes Gamero. “We need variety, and those mid-range films must also be able to survive and become profitable.” Big releases can also lift smaller titles, noted Cines Yelmo programming director Eva Rekettyei, citing the spillover effect from summer hits “The Odyssey” and “Spider-Man: Brand New Day.” But cinemas have limits. “As exhibitors, we cannot absorb everything being made, not just in Spain but around the world. Our space is finite,” she said. Theatrical Windows Under Scrutiny Exhibitors and platforms agreed that a theatrical run creates value beyond ticket sales, but differed on how long films should remain exclusive to cinemas. “We feed off cinemas,” said Movistar Plus editorial director Íñigo Trojaola. His platform premieres around 280 films a year, roughly 180 of them independent, yet cannot accommodate everything offered. Those exclusive windows, sharply shortened during the pandemic, have gradually lengthened again, according to Octavio Alzola, programming and marketing director at arthouse cinema chain Cines Renoir. “It’s not about setting a number,” Alzola argued. “It’s about recognizing that the time a film spends in theaters adds value.” Streaming executives defended theatrical exclusivity but pushed for flexibility when films quickly disappear from screens. “Sometimes that window is so rigid that it condemns films to silence,” Trojaola warned. From left, moderator Daniel Matilla, Eva Rekettyei, Octavio Alzola, Mercedes Gamero, Miguel Morales, Íñigo Trojaola and José Antonio de Luna at Merci 2026. Courtesy of Seminci/Photogenic. Filmin COO and co-founder José Antonio de Luna raised the risk of piracy when a title leaves theaters but remains unavailable legally for months. “Not all films are alike,” he said, calling for approaches suited to different releases. A striking example of cooperation came from Oliver Laxe’s “Sirât,” which was still playing at Cines Renoir when Movistar Plus started promoting its forthcoming streaming premiere. The campaign brought more people into theaters. “When the film’s premiere on Movistar was announced and the campaign began, we noticed that more people came to the cinema to see it that week,” Alzola recalled. More Buyers at Merci Merci is attracting more buyers from broadcasters and streaming platforms, including executives with the authority to acquire films. Held Oct. 28-30 at Valladolid’s Broadway cinemas and organized by the Valladolid Film Festival, known locally as Seminci, and Adicine, the market drew an estimated 215 professionals, up from 190 last year. Buyers followed a slate of 26 films set for Spanish theatrical release between late 2026 and mid-2027. Representatives from RTVE, Movistar Plus, Filmin and HBO attended, alongside regional public broadcasters, including first-time participant ETB Basque television. “We have people here who actually make the decisions,” said market coordinator Olimpia Pont Cháfer. Deals may close later, but screenings can introduce buyers to films they had not previously considered. As acquisition prices rise, Spanish indie distributors are increasingly joining forces to buy films and share release costs, bookings and marketing, Pont Cháfer added. Cienfuegos’ Legacy and La Meseta Awards Merci’s sixth edition was its first since former Seminci director José Luis Cienfuegos died in December 2025. The market’s career award now bears his name and was presented to Otilio García Gobeo, a leading figure at Golem Cinemas and Golem Distribución for more than four decades. At Friday’s closing, the second La Meseta Distribution Awards honored campaigns for independent releases. Silencio Cinema won the €5,000 ($5,900) first prize for Claudia Estrada Tarascó’s “Salen las lobas,” while Elastica took the $4,700 second prize for “La Gradiva.” Otilio García Gobeo, a longtime figure at Golem Cinemas and Golem Distribución, receives the José Luis Cienfuegos Award at Merci 2026. Courtesy of Seminci/Photogenic