If you're looking for films and TV shows in Spanish to watch for free online, then look no further. The streaming video site Hulu has an entire Spanish (Latino) language category that offers such quality TV shows as
Gran Hotel and
Los Hombres de Paco. It doesn't offer every season of these shows, but there is a good sampling. And, the best part, it's totally free. This is not the Hulu Premium version, just regular Hulu. Many offer close-captioning in Spanish (and I think a few also have English subtitles). There is also a good sampling of movies, including Pedro Almodovar's
Tie Me Up, Tie Me Down, which I believe was his first huge international hit. I think there may be some ads, but still for free it's not bad.
I just finished watching the entire series
Gran Hotel (not on Hulu, but on NetFlix, which has the entire run). I have to admit that the plot line ranged from the unlikely to the ridiculous, but for the 40+ episodes, it did keep me entertained for several weeks and I sort of hated to see it end. It was in Castillian Spanish with English subtitles. The acting was very good. Poor Andres--at least he finally got his well-deserved reward at the end.