Netflix is demanding more and more space as it tries to create more and more opportunities in film production.
According to recent news, the next step for the service provider will be largely focused on the French.
A three-year contract was signed Tuesday, which will spend 4 percent of Netflix’s annual revenue in France funding French and European films and invest at least 30 million euros (10.7 billion HUF) in francophone films.
The upcoming films will be distributed first in French cinemas and will be shown on Netflix 15 months later.
The broadcasting service provider had earlier entered into an agreement with the French Broadcasting Corporation to spend 20% of its annual revenue in France on the production of French series and films in accordance with French audio-visual media services regulations.
The terms of the agreement also strictly stipulate that at least 17% of the 40 million euros provided by Netflix must be used to fund French-language films with a budget of less than 4 million euros (1.4 billion HUF).
We put a lot of energy into this because we believe that France needs to become a better part of cultural life.
It quoted a Netflix advertisement as Variety.com.
So far, Netflix is the only streaming service provider that has such an agreement with French film organizations, and France is the only European country that has signed such an agreement with a streaming service provider.
Netflix previously had to wait 36 months to add films to French cinemas. The service provider wants to shorten the 15-month period in the current agreement over the next three years.
As you know, the broadcasting provider has signed a three-year agreement under which it pledges to finance the production of French and European films, which are also distributed in French cinemas, with a minimum of 40 million euros (14.3 billion HUF) annually .
It is speculated that strict French regulations may have played a role in Netflix’s decision to exclude Netflix films from the Cannes Film Festival competition programme, as the festival also required the distribution of competitive films in French cinemas.
(Cover Photo: Robyn Beck/AFP)
