Hold onto your hats, folks, because the Canary Islands are about to level up their animation game in a major way! VFX giant DNEG, alongside Spain’s SETT, is pumping a multi-million euro investment into Anima Kitchent, a move that’s straight up ‘dope’ for the region’s creative industry. This ain’t no small potatoes; we’re talking a hefty €24.9 million ($28.8 million) from SETT alone, channeled through DNEG’s ReDefine Originals. This significant cash injection is set to supercharge Anima Kitchent’s growth, solidifying the **Canary Islands**’ reputation as a burgeoning animation hub and attracting even more global attention.
Anima Kitchent, based in Las Palmas de Gran Canaria, has already been on a wild ride since its inception in 2017. Starting with a modest dozen workers, they’ve expanded to a formidable 170-person team, delivering banner shows like ‘Cleo & CuquÃn’ and ‘Lea & Pop’ for Warner Bros. Discovery. What’s ‘on point’ about their strategy is how they’ve harnessed YouTube, leveraging a massive 67 million subscribers to launch and consolidate their original IPs. This savvy approach to audience engagement and intellectual property development has positioned them perfectly for this next phase of expansion, aiming to create 275 new jobs and develop ‘fire’ original features.
The Spanish government is highkey betting on the audiovisual sector in the Canary Islands, seeking to diversify its economy beyond its bountiful climate and tourism. Angel VÃctor Torres Pérez, Spain’s Minister for Territorial Policy, made it clear: this investment is about building long-term value through original IP, aligning with the ambitious ‘Plan Spain Audiovisual Hub’. It’s a strategic play to foster innovation and employment, ensuring the islands remain competitive on the global stage. This isn’t just about beautiful landscapes anymore; it’s about a thriving, dynamic creative industry.
A big draw for companies like DNEG, no cap, are the absolutely ‘sick’ tax incentives offered by the Canary Islands. We’re talking film-TV expenditure tax credits ranging from 54% to 45%, capped at an impressive €36 million for feature films. But wait, there’s more! The Special Zone (ZEC) offers a corporate income tax rate of just 4%, a massive difference compared to mainland Spain’s 25%. Plus, a mere 7% VAT versus 21%. These financial advantages really ‘hit different’ and make the Canary Islands a seriously attractive proposition for international production houses looking to maximize their budgets.
This deal isn’t happening in a vacuum; it’s part of a larger trend that has seen the Canary Islands animation industry explode from one production house in 2018 to over 30 studios today. Major players like Fortiche (behind ‘Arcane’), Atlantis Animation, Tomavision (‘Space Jam: A New Legacy’), and even Finland’s Gigglebug and Surfing Giant (from Jeff ‘Swampy’ Marsh, creator of ‘Phineas and Ferb’) have set up shop. This vibrant ecosystem of talent, stable regulation, and competitive incentives offers a ‘safe harbor’ for companies navigating the often ‘sketchy’ waters of global market disruption, proving the islands are ‘legit’ contenders.
According to Pablo Hernández, ZEC executive president, the true edge lies in combining strong IP and high production values with real-time data analysis to track audience trends. This ingenious approach allows for rapid, high-quality production, ensuring IPs can travel into new markets with greater success. This strategic foresight and the commitment to innovation are what make the Canary Islands not just a location, but a robust platform for future animation blockbusters. It’s about smart growth, ‘periodt’.
This DNEG deal, meticulously developed with SETT and local partners like ZEC and Proexca-Gobierno de Canarias, is the culmination of more than four years of groundwork. It underscores that the Canary Islands have transcended being merely a scenic locale to become a credible, resilient alternative for global animation production. The combination of local talent, stable regulatory frameworks, and unbeatable tax incentives positions them perfectly to adapt to ever-changing industry conditions. Heads up, the animation world just got a new power player!
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Livia Dorne covers film, television, music, and pop culture with a keen editorial perspective. She delivers engaging commentary, reviews, and behind-the-scenes insights that keep readers connected to the entertainment world. Her style blends critique with storytelling.
