You may not be aware of this, but the European Union is updating its broadcasting laws to cover online services like Amazon and Netflix. As part of this move, the union is looking to prevent these firms from just taking money out of the 28 member states without putting something back in. That’s why the new rules say that 20 percent of each company’s content library needs to be European in origin. You have to make your money after all and that seems only fair.
The rumors of the ruling had some fearful that on-demand businesses would have to pay millions for obscure content that nobody wanted. But that is not the case at all. Netflix is already doing more than the bare minimum to promote European film and TV. Obviously they are doing just fine and people are happy with their content.
Netflix actually has 21 percent of European-made films in its catalog, satisfying the new regulations. It’s not much above the minimum, but it proves that the company had nothing to fear from the rule change. I guess you could say that it shows that everyone is on the same page. Remember, many popular films that we don’t think of as European, like Star Wars: The Force Awakens, are filmed across the pond.I’m sure Netflix will add more, just to stay above the margin.
Source Engadget
Filed Under: Entertainment News