Recently, according to media reports, American streaming giant Netflix signed a three-year agreement with the French Film Institute.
Netflix spends 4% of its annual revenue in France, or at least 40 million euros, to finance French or European films that will be shown in French theaters, with at least 30 million euros invested in French-language films.
All of these films will have their French theatrical premiere and will be available on Netflix after 15 months, with Netflix giving the films a seven-month window of exclusivity.
The agreement will also support low-budget films, and it includes a diversity clause.
Under the terms, Netflix must spend at least 17% of the 40 million euros in financing French-language films with budgets below 4 million euros.
Netflix needs to invest in at least 10 movies in the pre-funding stage.
Netflix, which previously had to wait 36 months for new films to open in French theaters, now hopes to shorten the current 15-month window within the next three years.
