Private TV networks to be allowed to invest in series as part of 5% Law
Since the government announced a few months ago its intention to remove advertising from state television, people have started to wonder how this will affect the current precarious balance between film and television. By law, the latter must invest 5% of its revenue in film.
Last Friday, the Council of Ministers therefore approved the draft bill of the much-awaited General Audiovisual Law, which, among other things, allows television networks to invest part of this 5% in television series. This is one of the main demands of UTECA (Union of Associated Television Networks).
In any event, at least 60% of said investment should be allocated for film and at least half of that will go to independent productions.
In order to compensate for the decrease in film funding, the draft bill includes a greater number of companies obliged to invest 5% of their income in film, specifically “electronic communication service providers that broadcast television channels and programme catalogue service providers”.
(Translated from Spanish)
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