Netflix has signed a three-year deal with several French film guilds that will see the streaming platform invest at least 40 million euros ($45 million) in at least 10 French and European films.
As part of the deal, Netflix pledged to invest at least 4% of its annual net revenue in French and European film productions, with a minimum of 30 million euros ($34 million) earmarked for films. in French.
The deal, which was announced by French film guilds ARP, BLIC and BLOC on Tuesday, will give each film a theatrical release in France before hitting Netflix 15 months later. Netflix will then hold an exclusive seven-month streaming window.
“This agreement is a further step towards our virtuous integration into the unique ecosystem of French cinema,” Netflix said in a statement via Variety. “This reflects both our constructive contribution to the AVMS negotiation process and our commitment to being part of the French cultural exception.”
Additionally, the deal requires Netflix to invest at least 17% of allocated funds in low-budget films, which the provision defines as projects with budgets under €4 million ($4.54 million). . Netflix will need to invest in at least 10 films in their pre-financing phase, which means the investment will be made before principal photography begins.
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