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Netflix Ups Fiscal Love of French Movies

Netflix has reportedly inked new three-year agreements with French film organizations pledging to devote at least 4% of its annual revenue in the region to locally produced movies.

Hailed as “landmark” deals, the agreements with the BLIC (Bureau de liaison des industries cinématographiques), the BLOC (Bureau de liaison des organisations du cinema) and the ARP (Société civile des auteurs réalisateurs producteurs) call for Netflix to invest €40 million ($45.3 million) annually, with a minimum of €30 million ($34 million) for original French-language movies, including pre-financing at least 10 movies annually.

In return, Netflix will have access to French movies 15 months (down from 36 months) after their theatrical debut for an exclusive seven-month window. The deal should also allow Netflix to finally premiere its movies at the Cannes film festival.

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The agreement follows last December’s pact between the Conseil supérieur de l’audiovisuel (CSA) Netflix, Disney+, Amazon Prime Video and Apple’s iTunes Store mandating the platforms invest at least 20% of their French revenue to locally produced content. The agreements are expected to generate upwards of €300 million ($340 million) in French-based movie spending.

Netflix ended 2021 with more than 74 million paid subscribers in Europe, the Middle East and Africa, including more than 8 million subs in France.

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