Margarita: Make Your Story Count
Season 2
Created by: Cris Morena
Network: Max, HBO Max
Season aired: 2026-05-03
Seasons
Overview
Margarita tells the story of an orphaned teenager with a life like a movie, with many doubts and almost no certainty about her story, who, following her wish, will arrive at a very magical place where she can live and fulfill her dreams, without knowing that this house was the place where she was born and that the perfidious Delfina usurped it to build her empire.
About This Season
Margarita's magical journey continues: after discovering her true identity, she returns with new allies and more courage than ever, determined to reclaim her legacy and defeat evil Delfina once and for all.
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Episodes · 20
I Say Magic (1)
While Delfina takes the world by storm with a new streaming platform, Margarita and Fach make it to Krikoragán for the royal wedding.
I Say Magic (2)
While Merlín and Margarita reunite to escape Krikoragán, Delfina expands her digital empire with an AI-generated Margarita.
I Will Escape
Delfina's digital moves cause a stir, Ada attempts to rescue Pipe, and Margarita and Merlín escape with rebel help.
Oh La La
While Delfina deals with Daisy, Fach moves closer to an important lead, and Margarita uncovers the full scale of Delfina's plan.
Nothing but Fiction
While an accidental livestream draws suspicion from Delfina, Fach escapes Krikoragán, and Yamila exposes AI Margarita.
Musical Fantasy
Now in Argentina, tensions brew amongst Margarita and her crew. Meanwhile, Delfina tightens her control over REINA.
Our Essence
After revealing the truth to her friends, Margarita and her crew decide to fight back with their own platform. Meanwhile, Delfina expands her reach.
And Who Are You?
As FLÍKITI grows in popularity, Delfina does whatever it takes to maintain her dominance. Later, Merlín faces his mother’s arrest.
Anything Can Happen
Margarita and Fach escape Reina Studios, the League plans a rescue, and an increasingly paranoid Delfina sets her sights on Ada and Pipe.
Points of View
While the League's rescue exposes the regime, Delfina struggles with FLÍKITI's rise, and Margarita’s bond with Merlín becomes strained.
Upside Down World
After Daisy is promoted to princess, Erasmus threatens to expose her. Later, Merlín learns the truth about Margarita and Rey.
The Cost of the Truth
When Erasmus exposes Daisy's true identity, Delfina scrambles to maintain control. Meanwhile, Margarita decides to confront Delfina on her own.
Familiar
Under pressure to reveal her identity, Margarita puts Daisy first. The League develops a cunning plan, and Delfina comes close to the truth.
Viral
Delfina finds the group's hideout, Malala's viral exposé fuels the ongoing scandal, and Única uncovers the AI Margarita.
Take a Chance
Though Delfina emerges victorious through tampered DNA, Margarita gears up for a public confrontation, and doubts about Fach divide the group.
Intuition's Plans
Margarita bursts into REINA, Fach searches for evidence about his brother, and the group plans to expose Delfina, who counterattacks with a low blow.
He Who Laughs Last
The group reorganizes to defeat Delfina, the news about Pio Pietro shakes Krikoragan, and Fach seeks a DNA test for Florencio.
The Mysterious Woman
Amid the confusion surrounding Andrés, the group and Delfina exchange barbs. Later, Ada and Pipe reveal the truth to Daisy.
King of Everything
As suspicions about Rey grow, Daisy confronts Margarita. Later, Ada manages to escape, a lawsuit against Delfina moves forward, and the tactics of both sides escalate the conflict until the police intervene.
Who Tell the Story
When the plan to expose Delfina fails, she manipulates the narrative to frame Severino. Then, while Margarita decides to place her trust in Rey, Daisy struggles to accept the truth, and Delfina delivers a stunning final blow.
