Filmin, the Spanish streaming platform, would be for sale. This has been announced by the economic newspaper ‘Expansión’, which says that Nazca Capital (the Spanish venture capital fund that controls Filmin) has begun the process of searching for a buyer through the business bank Arcano. The objective to which They aspire to be between 40 or 50 million euros and Movistar and Amazon could be among those interested in taking over the Spanish platform, one of the best valued by users.
In fact, the catalog is the jewel in the crown of Filmin, which since its founding in 2007 has reached agreements with majors to offer its clients true jewels that cannot be seen anywhere else. Thus, in these years of slow but constant growth and consolidation, Filmin has managed to gain a catalog of more than 10,000 titlesmostly author films and series and great classic masterpieces, as well as hard-to-find rarities.
From Filmin they confirm to ABC that “Nazca has sent Arcano to advise on the evaluation of different strategic options in relation to Filmin. These options include a potential divestment of the funds, as well as inorganic growth options.
Since 2021, Filmin began producing its own series and in co-production with national and international networks and platforms. «The start of production of our first series reaffirms Filmin’s will to constantly evolve […] and it means reaching the age of majority as a platform,” Juan Carlos Tous, founder and CEO of the platform, said at the time.
Tous forms, together with José Antonio de Luna and Jaume Ripoll, the founding trio of Filmin. ‘Expansión’ points out that the three maintain 16% of Filmin’s capital along with other shareholders who joined in the first months. 84% has been managed by Nazca Capital through the company Films NewCo since 2020, when they entered through a capital increase of about 20 million euros.
Thus, in 2023 the company would have earned 22.6 million euros, with a net profit of 1.5 million euros, always according to ‘Expansión’ data.
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