Netflix signs an agreement with the French film industry
- The streamer is the first to engage more closely with French film following the transposition of the European AVMS Directive
In line with the recent implementation of funding obligations for SVOD platforms vis-a-vis French and European film creation (read our article), the French film organisations (represented by the Film Industries Liaison Office (BLIC), the Film Organisations’ Liaison Office (BLOC) and the Civil Society for Authors, Directors and Producers (L’ARP)) and Netflix have today signed the first ever agreement between a film industry and a subscription-based, on-demand video service (SMAD).
As part of this three-year agreement, Netflix undertakes to invest 4% of its annual net turnover achieved in France by way of a minimum guarantee of €30m invested yearly in original, French-language film creation. This amounts to a diversity clause offering up at least 17% of the pre-financing amounts required for the funding of original, French works whose budgets are less than or equal to 4 million euros, and a volume clause stipulating that a minimum of ten films will be pre-financed each year.
In all, this should amount to an estimated investment of €40m in French and European film creation in 2022. And as a privileged partner of the French film industry, France’s new media chronology (read our news) will see Netflix enjoying first and exclusive access to films for a duration of seven months, 15 months after their cinema release.
(Translated from French)
Did you enjoy reading this article? Please subscribe to our newsletter to receive more stories like this directly in your inbox.