Netflix pledges $400m to Canadian TV and film

Netflix pledges $400m to Canadian TV and film

Netflix pledges $400m to Canadian TV and film

"Our goal is clear: As a government, we have a core responsibility to continue to protect and promote our stories and our culture", Joly said.

Ottawa had been under pressure by Canadian broadcasters to impose a tax on Netflix, akin to fees paid by broad casters, that could be used to fund Canadian programming.

Online TV provider and program creator Netflix agreed a deal with the Canadian Government Thursday, to create and produce content in the country.

Canadian broadcasters also must fulfil a quota of Canadian content on air, which streaming services are not required to match. Here's to a whole lot more Canadian content! Streaming services like Netflix and YouTube are not subjected to the same regulations as media companies in Canada.

This will be known as Netflix Canada, a "first of its kind production company". Joly said Netflix has committed CAD 500 million to fund Canadian productions over the coming five years and to build a permanent production presence in the country. In return, there will be no new taxes on streaming services or ISPs.

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Joly announced that $125 million has been earmarked over five years to support a creative export strategy that includes the new Creative Export Fund, which will be launched in 2018 with the aim of helping cultural producers increase their presence outside the country.

Canada's Heritage Minister, Melanie Joly, said the deal "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".

Well known media figures David Suzuki, Xavier Dolan, Atom Egoyan, Erik Canuel, Meg Tilly, Tracey Tekahentakwa Deer and Philippe Falardeau signed the open letter, which was filed before Heritage Canada announced its new plan.

The company has already co-produced a handful of Canadian television series with public broadcaster CBC and others, including Anne, based on the novelAnne of Green Gables, and Canadian author Margaret Atwood's Alias Grace.

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