The defining atmosphere of the 5th Merci Market in Valladolid was set by its flagship round table “¿Qué nos preocupa?” (“What’s Worrying Us?”), Spanish indie distributors and box office companies mapped out survival strategies for arthouse films.
Merci, held from October 29th to 31st at the Broadway Cinema in Valladolid and co-organized by Seminci and the distribution company Addisin, was attended by around 200 programmers, exhibitors, distributors, platform buyers and television commissioners, and screened 27 titles from late 2025 to 2026.
Comscore Film Spain had previously provided a grim background. As of September 30, 2025, Spanish theater attendance was down 3% year-on-year, while the international market was up 4%.
October: 70 new movies released
Spanish cinemas were packed with 70 new releases in October alone. This is a sticking point where indie work gets buried before reviews, campus outreach, and social traction can gain traction.
Comscore also compiled a snapshot of the 2025 performance of the 20 Adisin member distributors, which account for almost 99% of Spain’s independent distribution sector. With 202 new releases, 5.9 million people watched the film, generating a total box office revenue of 38 million euros ($43.8 million) and a market share of 12%.
Moderated by Kinótico editor Matías G. Rebolledo, the session’s speakers included Óscar Alonso of LaZona Pictures, Golem programmer Bárbara Fernández, Cines Lys programmer Silvino Puig, ICAA Secretary General Rocío Juanes de Toledo, Adicine co-president Lara Pérez Camiña, PROMIO Javier Pachon, president of , and FECE. President Alvaro Postigo.
Strengthening the education pipeline
Indie distributor Alonso warned of “sleep killers” – an overabundance of titles that can be fatal if you get the date wrong – and called for stronger educational pipelines to reach new audiences. Golem’s Fernandez warned that fixed costs were in conflict with Scanter’s box office revenue. Puig said the programming job itself is a stress test, recalling openings five to seven times a week in the pre-digital era.
Mr. Pachon cited the concentration of box office revenue, a decline in the desire to explore, and insufficient incentives for theaters. Postigo said the environment was “brutally unstable”, pointing to the disruption of the global release calendar and the disarray of US studios. His prescription is EU-level coordination of windows and market order.
ICAA: Expanding institutional support for exhibition and distribution
On the institutional side, Juanes de Toledo said ICAA’s new four-year strategic plan will focus support from production to distribution, exhibition and audience revitalization, expand the Cine Senior and Cine Escuela programs, channel support to schools through non-profit intermediaries, and lay the foundation for the long-awaited State Council to codify best practices.
Collaboration has emerged as a key opportunity at Merci. In a study published on October 31, “A Collaborative Model for Exhibitors,” consultant John Barrenetxea, in partnership with Europa Cinemas, reported that movie theater subscription systems have a net positive effect on attendance and box office revenue, serve as always-on marketing that builds community, encourage diversity in programming, and strengthen relationships between exhibitors and both exhibitors and distributors.
John Barenechea
Credit: Emiliano de Pablos
Barrenechea pointed to three specific strategies. One is Cineville, a cinema ownership association model that counts 135,000 subscribers and works with 180 cinemas across the Netherlands, Belgium, Germany and Austria. Mubi Go’s ticket program is available in the US, UK, Ireland and Germany, partnering with 260 theaters and with 350,000 tickets redeemed since its launch in 2018. Austria’s Nonstop launched in 2023 and operates in 29 cinemas nationwide through a subscription card model, with more than 10,000 subscribers.
Takeaways from Barrenecea’s speech: Make collaboration long-term and sustainable. Subscriptions are expected to grow as consumers default to subscriptions and localize branding, pricing, and structure by market.
On behalf of the platform used by more than 23 million movie fans around the world, Letterboxd’s Ella Kemp mapped how the Taste community can provide bookers with a practical bridge from chatting online to managing local schedules.
An autumn day not to be missed for the industry
“In its fifth edition, Merci has established itself as an unmissable fall date for the industry, as evidenced by the nearly 200 participants, an increase of around 30% over last year,” said Perez Camiña from Adicine.
The appeal of this event has led to increasing calls for a second annual general meeting. “Exhibitors, television and platform executives have requested a second edition, and Adisyn agrees that it would be beneficial. However, as of today, we cannot confirm whether that will be possible or where it will take place.”
Specific incentives were announced at Merci’s closing ceremony, where the La Meseta distribution company announced a new distribution award recognizing the best promotional campaign for the release of an author’s film. Kristen Stewart’s The Chronology of Water received €10,000 ($11,516) for Sideral, Julia de Paz’s The Good Daughter received $5,758 each for Avalon and MadAvenue, Hlynur Pálmason’s The Love that Remains earned Elástica and Revolutionary, and Daniel Sánchez Arévalo’s Rondallas A special award was given to Beta Fiction Spain. This initiative is supported by the Military Government of Castile and León with the support of the Ministry of Culture.
Cines Lys programmer Silvino Puig from Valencia was also awarded the Honorary Merci Award.
