Spain Boosts Canary Islands Animation with €6.4 Million SETT Investment

The Spanish Society for Technological Transformation (SETT), a public vehicle of the Ministry for Digital Transformation, is committing €6.4 million (? $7.3 million) to Las Palmas-based Amuse Labs, a newly created animation studio focused on children’s content. The deal gives SETT a 48 % equity stake, while Amuse Studios becomes the second-largest shareholder. The financing, part of the second phase of the Spain Audiovisual Hub plan, aggregates public and private capital to a total of $15.1 million for the project.

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The investment follows two earlier commitments: €25 million to Canary Islands studio Anima Kitchent and €7 million to KAG Group. Together they signal a shift from relying solely on tax incentives toward direct state ownership in the sector. SETT’s goal is to transform Amuse into an IP-centric studio that controls creation, licensing, and merchandising, positioning the Canary Islands as a “strategic engine” for global children’s franchises. The studio, founded in 2014 with offices in Paris and Shanghai, already manages more than 30 original properties and reports over 600 million monthly digital views in 27 languages.

Spain Invests Another $7.4M In Animation With Amuse AnimationVariety Magazine

According to the announcement, the infusion will support animation projects valued at up to $22.9 million and is projected to generate 40 direct jobs and roughly 150 indirect positions across production, post-production, sound, translation, distribution, licensing, merchandising, and legal services. The broader ecosystem—including local universities, vocational training programs, and service providers—is expected to benefit from heightened demand.

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> “Spain is strengthening its leadership in audiovisual production, with the Canary Islands serving as a strategic engine.” — Ángel Víctor Torres, Spain’s minister of territorial policy and democratic memory

Spain Invests Another $7.4M In Animation With Amuse Animation

The partnership forms part of a broader cluster of audiovisual firms operating under the Canary Islands Special Zone (ZEC), a low-tax regime designed to attract international production. While no specific future milestones were disclosed, the investment aligns with Spain’s ambition to make the archipelago a global hub for children’s IP development and to sustain the momentum of its state-backed audiovisual growth strategy.

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