Futuresource Consulting has released data showing pay-TV remains a strong performer in Spain.
According to the analysts, the country is “navigating a different course” from other European markets, with pay-TV retaining a 47 per cent share of total spend in 2025. The sector’s strength is bolstered by premium sports rights, multi-service bundles from major operators and a strong fibre-led IPTV expansion, which now accounts for more than 80 per cent of pay-TV households, according to the data.
While satellite TV has declined, telcos continue to expand, with Movistar Plus+, Orange and Vodafone playing what Futuresource called “a defining role”.
Rachel Mitchell, research analyst at Futuresource Consulting, said, “Spain doesn’t follow the patterns we’re seeing elsewhere. It sets its own pace. And while other markets are moving towards streaming dominance, Spain continues to balance a powerful Pay-TV base with one of Europe’s most energetic FAST and ad-supported ecosystems. It’s this combination of loyalty, innovation and localised choice that makes Spain such a compelling market to watch.”
Futuresource expects revenue to grow at a 4 per cent CAGR out to 2029, highlighting the contrast with declines experienced in territories such as the UK and Italy.
The country is emerging as a powerhouse in ad-supported streaming markets, with around 75 per cent of viewers consuming FAST/AVoD content every week and 60 per cent reporting they no longer watch linear TV, added the analysts.
These figures represent the highest shift among major European markets. Platforms including Pluto TV and Samsung TV Plus continue to expand rapidly, with each service providing more than 100 themed channels. Rakuten TV is also strengthening its B2B partnerships and FAST portfolio, said the analysts.
“This surge reflects a clear behavioural trend,” said Mitchell. “Spanish audiences are increasingly comfortable mixing premium pay-TV subscriptions with free, ad-supported streaming, with hybrid viewing engagement levels that place Spain ahead of many other markets.”
The SVoD market continues to grow, although its pace has slowed compared to previous years. Consumer spend is expected to reach €2.1 billion for 2025, with subscriptions predicted to reach 21.3 million fuelled by service stacking and strong engagement with local originals. Together, Netflix, Amazon Prime Video, Disney+ and HBO Max account for 87 per cent of all subscriptions. Growth in the adoption of ad-supported tiers is broadening accessibility but moderating overall growth,
Mitchell added, “Looking ahead, Spain’s video market is on track to exceed €6.3 billion by 2029. Yet what truly defines Spain is its balance between premium pay-TV, increased FAST usage, and a rich ecosystem of global and local streaming services. It’s a market shaped by choice, not replacement, and that’s where its long-term strength continues to lie.”
