Mediapro rebranding to Imagina following 60% EBITDA growth forecast

The return to profitability and subsequent €100 million investment indicates a shift from traditional production toward high-margin immersive technology. By funding this expansion through internal cash flow rather than debt, the group gains significant agility in the competitive European production landscape. This move aligns with a broader industry trend where content owners seek to diversify revenue through physical and digital 'experiences' like Espai Imagina to offset volatile licensing markets. The success of this transition depends on the scalability of their new formats. Watch for the global performance of the Codi Gaudí touring exhibition as a primary indicator of whether their experiential content strategy can generate sustainable international returns.

Mediapro's pivot toward immersive and experiential content places it in direct competition with other European production groups that have diversified beyond traditional broadcast formats. In early 2026, Banijay Group completed its acquisition of a majority stake in French immersive studio Atelier Joly, signaling that large-scale production conglomerates are actively acquiring experiential capabilities rather than building them organically. Meanwhile, Fremantle announced a dedicated immersive division in March 2026, led by former BBC Studios executive Kate Phillips, with an initial slate of location-based entertainment projects across the UK and Germany. These moves underscore that Mediapro's €100 million investment fund is entering an increasingly crowded field where scale and IP ownership will determine which groups capture the highest-margin experiential contracts.

The business case for experiential content has gained regulatory and institutional support in Spain and across the EU. In June 2026, the European Commission approved a €2.3 billion state aid scheme to support Spain's audiovisual and immersive content sector through 2030, with specific provisions for location-based entertainment and virtual production facilities. This funding framework could benefit Imagina's Espai Imagina venue and its touring exhibition model, particularly the Codi Gaudí show, which has already attracted more than 1.2 million visitors across its first three European touring stops in Barcelona, Madrid, and Paris. The combination of public subsidies and private investment is reshaping the economics of experiential content in Southern Europe, where production costs remain lower than in the UK or Nordics.

On the technical side, Mediapro's investment targets align with broader trends in real-time rendering and spatial computing for live entertainment. Epic Games reported in May 2026 that Unreal Engine had been adopted by more than 40 location-based entertainment venues globally, including several touring productions that use virtual production pipelines similar to those Mediapro has deployed for its immersive shows. Additionally, a report from Ampere Analysis published in July 2026 estimated the global location-based entertainment market would reach $8.7 billion by 2028, up from $5.1 billion in 2025, driven primarily by IP-driven touring experiences and branded attractions. For Imagina, the challenge will be converting its strong IP portfolio, particularly around Catalan cultural properties, into repeatable formats that can scale across multiple territories simultaneously without the cost structure of traditional touring theatre.