Spanish pay TV continues its resurgence after five years in the doldrums until the end of 2014, with IPTV still driving the growth at the expense of satellite. The pattern is to some extent mirrored in some other leading European markets, such as Italy where more modest pay TV growth masks slight decline in satellite. Not surprisingly OTT growth is occurring everywhere and undermining pay TV in some countries such as Italy, but not yet in Spain, largely because IPTV is still benefitting from expansion of broadband and especially FTTH footprints. Spanish pay TV subs and revenues flatlined in the wake of the 2008 credit crunch and reflected the malaise of Europe’s weaker southern Eurozone countries, but has emerged strongly…