While South Korea is a key example of how much global traction local-language productions can actually pull, it’s not the only arena for streaming focus right now. Netflix has been investing in local originals across a far wider base- and now it’s added France to the list at last. Brandon Blake of Blake & Wang P.A shares the news.
French Cinema Guild Deal
The new deal will see a $45M investment in at least 10 French and European films over the three-year period, all of which will have guaranteed theatrical release in France. Reached with the three key French guilds- ARP, BLIC, and BLOC, representing producers, creatives, and cinema owners- it’s the first SVOD deal of its kind to be seen in the country. Netflix will return at least 4% of its annual net revenue into the productions, and $34M of the deal will focus on French-language productions. 15 months after the theater release, Netflix will acquire an exclusive 7-month streaming window.
Low Budget Prioritized
17% of the $45M deal must also be plowed into productions with a sub $4.54M budget. The deals will be pre-financed, so before principal photography, too. This comes on the heels of a deal to invest 20% of the streamer’s annual revenue in France into French content, something mandated by the French government to put it onto an equal footing with other TV networks in the country.
They have, however, received special dispensation on the window between the local release and online screening. France has the longest window, at 36 months, of any European country, but Netflix will only be required to adhere to the 15 month window above.
Despite this development paving the way for Netflix to return to Cannes, an arena it has been locked out of due to the requirements for the competition titles to have a French theatrical release, it seems they will not be returning to Cannes this year. Perhaps, however, we will see a 2023 release for them? It’s too early to tell, but this entertainment attorney will be watching with interest.
Film and Television 