Madrid-Based AF Films Outlines Push From Indie Producer to Full-Service Studio With Three-Project International Slate

Madrid-based AF Films says it is transforming from a standard production company into a vertically integrated studio spanning development, financing, production, and Spanish distribution, according to a profile published by Deadline on April 30. The company's founder, Frank Ariza, told the outlet that the first three years of building that infrastructure are now in place, and that a current slate anchored by three internationally prominent projects — 'Hammer Down,' 'Above and Below,' and 'No Man's Land' — reflects the model working in practice.

The Details

Deadline's International Disruptors profile describes AF Films as a company that has spent its foundational years constructing a multi-layered operation rather than assembling a traditional single-project slate. According to Deadline, that infrastructure now includes a Spanish distribution arm called AF Pictures and two company-owned soundstages in the Canary Islands.

"Our plan has been to break the traditional production company model and act more as a creative studio with a global focus that integrates development, financing, production and distribution into a unified ecosystem," Ariza told Deadline. He said the long-term goal is what he described as a 360 business: "Our aim is to build a 360 business where we can do everything from A to Z."

The company's most high-profile active project is 'Hammer Down,' an action thriller that AF Films is co-producing with Charles Roven's Atlas Entertainment. A February 2026 Deadline exclusive confirmed that AF Films had joined Atlas to co-produce the film and would lead production in Spain and other European territories. The same report noted that Idris Elba had departed the project.

A second title, 'Above and Below,' is an action thriller featuring Antonio Banderas in a shark survival premise. Variety reported in July 2025 that Banderas had boarded the project, which AF Films is producing alongside Capstone, and that filming had already begun in Spain. A third project, the dystopian horror film 'No Man's Land,' is being led by AF Films as producer in a partnership with Boom Films, with Goodfellas handling international sales. Cineuropa reported in February 2026 that the film was set to begin shooting in Spain in April 2026.

Variety's 2025 coverage of 'Above and Below' noted that AF Films had nearly 30 titles under its belt at that point and was already producing across both film and television, suggesting a production operation broader than a single-project boutique.

Context

AF Films' investment in Canary Islands infrastructure fits a pattern identified by industry trade press. Screen Daily has described Spain and the Canary Islands as international production hotspots, citing crews, location diversity, and financial incentives as the primary drivers. According to Screen Daily, Spain's national production incentive stands at 30%, while the Canary Islands can offer up to 54% — among the highest in Europe. That differential has made the archipelago an increasingly attractive base for internationally financed productions.

AF Films' broader positioning — as a company seeking to own intellectual property rather than service outside productions — follows a model that several mid-sized international independents have pursued as the streaming era created both demand and distribution access for non-Hollywood content. Ariza framed the company's next phase in those terms when speaking to Deadline. "The idea is for people to know us more and for us to continue working with the right partners and grow the company and own more IP," he said.

It is worth noting that the studio-scaling narrative — the claims around AF Films' three-year build-out, the role of AF Pictures in Spanish distribution, and the assertion that the Canary Islands soundstages are reserved for in-house productions — comes primarily from Deadline's interview with Ariza rather than from independent corporate filings or third-party reporting. The individual projects and the Canary Islands incentive context are corroborated separately by Variety, Cineuropa, and Screen Daily.

What's Next

AF Films' three confirmed projects provide the clearest near-term signal for the company's trajectory. 'No Man's Land' was scheduled to begin production in Spain in April 2026, according to Cineuropa. 'Hammer Down' is in co-production with Atlas Entertainment across Spain and other European territories, per Deadline's February reporting. 'Above and Below' had already begun shooting in Spain as of Variety's July 2025 report, putting at least one of the three titles ahead of the others in production timeline.

Ariza told Deadline that growth and IP ownership are the defining priorities for the company's next phase, though no specific release dates, financing announcements, or distribution deals for the current slate were detailed in Deadline's April 30 profile.