Friday September 29, 2017
Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Friday September 29, 2017
Netflix to commit $500M over 5 years on new Canadian productions
Internet streaming service Netflix will spend at least half a billion dollars over the next five years to fund original Canadian productions, CBC News has learned.
The funding will officially be announced tomorrow by Heritage Minister Mélanie Joly as part of a speech unveiling her vision for Canadian content and cultural industries in the digital world. It comes after months of public consultations, which were held last year.
The move could benefit both Netflix and the federal government, which has come under pressure to impose a tax on the service that could be used to fund Canadian programming.
Netflix has lobbied hard to avoid facing the kinds of requirements that traditional broadcasters in Canada have had to face for years.
Canadian broadcasters, for example, have to fulfil a quota of Canadian content they put on the air. They are also required to spend a percentage of their revenues to fund “programs of national interest” through contributions to the Canada Media Fund (CMF) — a requirement that was decreased to five per cent in a CRTC decision this past May.
Politically, the Trudeau government can now claim a victory for giving a leg up to Canadian producers without imposing a new tax on Canadians or going to battle with members of the industry to convince them to pitch in new money. (Source: CBC News)