OTTAWA – Netflix is building a permanent film and television production company in Canada that will invest at least $500 million in original content in both official languages over the next five years.
Folded in to Heritage Minister Joly’s new Investment Canada Act, the agreement is the first of its kind outside the United States for the streaming giant, who pledged to be “a meaningful partner in supporting Canadian creators, producers and the Canadian creative expression.”
Netflix also agreed to highlight and promote the new Canadian content to its subscribers in Canada and internationally, plus create a "market development strategy" to support Canadian French-language content on its platform. Centered on a $25 million investment, this strategy will include “pitch days” for producers, recruitment events and other promotional and market development activities.
“Fans around the world are already falling in love with Netflix originals produced in Canada”, said Netflix chief content officer Ted Sarandos, in the announcement. “Today’s announcement affirms there’s more to come as Netflix launches Netflix Canada, our permanent production presence in Canada. We look forward to continuing our work with Canadian talent, producers, broadcasters and other local partners to create Netflix originals in Canada for many years to come.”
“This agreement – the first of its kind in the world – will ensure the investment of more than $500 million in original production in Canada in both official languages”, added Minister Joly. “It signals a meaningful partnership in supporting Canadian creators, producers and Canadian creative work, and in bringing that work to millions of viewers around the world.”
