[ad_1]
Netflix used its third quarter earnings report to criticize the European Union about a new content quota for streaming services.
According to Reed Hastings, CEO of Netflix, "The EU is currently rewriting its audio-visual rules", will require streaming services such as Netflix "devotes at least 30% of their catalog to European works". Netflix's report acknowledged that a specific audience has encouraged more regional original programming for an international audience, but suggested that meeting quotas on a streaming service could have undesirable negative effects.
"We would prefer to focus on creating quality service for our members, which would include local content production, rather than meeting quota, but we expect that a quota of regional content equivalent to the part of the region of our members in the world will only marginally reduce satisfaction of the members, "reads the report. "Nevertheless, quotas, no matter the size of the market, can have a negative impact on the customer experience and creativity. We believe that a more effective way for a country to support strong local content is to directly entice local content creators, regardless of the channel of distribution. "
Netflix already has a vast catalog of international content. Hastings and Ted Sarandos, content manager at Netflix, spoke at length about the development of original series and films for audiences outside North America. the Financial Times in April, Netflix planned to "double its production expenses in Europe", spending about "$ 1 billion this year, [and] producing 100 programs in 16 countries. "
"What concerns me is to share the best content in the world, be it Japanese anime, Turkish telenovelas, Nordic film noir," Hastings said. Financial Times. "I've never been very focused on Hollywood."
Netflix is more likely to invest in international content. Of the 137 million Netflix subscribers, nearly 79 million are international, according to the company's revenues. Spending room for this rapidly growing audience (€ 72 million in the last quarter) is not just something that will appease the EU, it's a smart enterprise.
"We also continue to develop our international originals, with projects covering India, Mexico, Spain, Italy, Germany, Brazil, France, Turkey and Spain. the Middle East, to name a few, "says the report on the results. "In India, our hit series Holy games was followed by Ghoul end of August. Casa de las Flores, our last Mexican original, has become a great success. "
Hastings also previously stated that the company was interested in developing more Bollywood titles in India and original anime in Japan.
Source link
