The platform undertakes to spend 30 million euros per year in French creation and to produce at least ten French films each year.
Last month, a new media chronology was signed in France, in order to considerably reduce the time it takes for a film to be released after its cinema release. Netflix thus spent 15 months instead of 36, while its direct competitors (Amazon, Apple TV+, etc.) obtained 17 months of delay. In return, the American firm undertook to participate in French cinematographic creation by donating 4% of its net annual turnover, or around 40 million euros.
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The platform is now revealing the details of This agreementconfirmed on Tuesday, February 22. “The French cinema organizations – represented by BLIC, BLOC and L’ARP – and NETFLIX are pleased to announce the signing, today, of the first agreement between cinema and a subscription video-on-demand service ( SMAD)”begins the press release, which then specifies that this agreement will be for a period of three years, and which includes the following clauses:
“NETFLIX undertakes to articulate its contribution of 4% of its annual net turnover achieved in France, through:
● A guaranteed minimum of 30 million euros per year in cinematographic creation of original French expression;
● A diversity clause limiting at least 17% of the amount of pre-financing in the financing of works of French original expression whose budget is less than or equal to 4 million euros;
● A volume clause providing for a minimum of ten pre-financed films each year.”
It is also specified that “for the year 2022, this will represent a total investment of around 40 million euros in French and European cinematographic creation”and “the first release window at 15 months after the release of the films in theaters” will be“a duration of 7 exclusive months”.
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