Miami — In a potentially powerful alliance, Spain’s Zeta Studios, producer of Netflix megahit “Elite,” has signed to develop Latin American Spanish-language webnovels from Wattpad Webtoon Studios, the online publisher via Webtoon of web novel “Through My Window.” Its movie makeover ranks as Netflix’s fourth most-viewed non-English film ever.

Both companies will also partner on projects in Spain on a first priority non-exclusive basis, they announced Tuesday, just before first panel sessions at the second edition of Content America, the Miami TV market and forum.

The pact marks another key step in Zeta Studios’ expansion in Latin America. In its first major corporate move, in June 2023, Madrid-based Zeta Studios, also producer of HBO Max banner title “García!,” named Marcelo Tamburri, one of Latin America’s preeminent TV execs, to the newly-created position of director of international content.

The ex-Warner Bros. Discovery exec remains based in Mexico City, Spanish-speaking...