It’s Official: Netflix to Invest $500 Million to Create Original Productions in Canada
The Minister of Canadian Heritage and Netflix have announced an agreement to see the latter create a new production called Netflix Canada, and invest a minimum of $500 million over five years to make original productions in Canada.
The agreement will see Netflix create a production company outside the U.S. for the first time, with the investment set to create Canadian content in both French and English, to be distributed globally. A $25 million investment will see support for Canadian French-language content on Netflix as well.
The Honourable Mélanie Joly, Minister of Canadian Heritage, said “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. 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,” in a statement issued to iPhone in Canada.
Below is the transcript from her speech today announcing Creative Canada at the Economic Club of Canada–and the section where she noted the Netflix announcement:
Today, I am announcing the first of these agreements on behalf of the Government of Canada and Netflix.
Under this agreement, Netflix will create Netflix Canada – a permanent film and television production presence here in Canada, the first time that the company has done so outside the United States.
And building on the strong track record of investing in Canadian producers and content with shows like Anne and Alias Grace with the CBC, Travellers with Showcase, and Frontier with Discovery, they have agreed to invest a minimum of $500 million in original productions in Canada, in both official languages, over the next five years.
The Francophone market has great potential for growth, and Quebec has a unique and talented creative community. That is why Netflix is committed to investing $25 million in a market development strategy for French-language content and production—both within Quebec and in Francophone communities across Canada.
Netflix will also work to promote Canadian films and programs on its platform so that they are discovered by Canadian audiences and millions of viewers around the world.
Ted Sarandos, Netflix, Chief Content Officer, said “Fans around the world are already falling in love with Netflix originals produced in Canada.”
He added “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.”
Yesterday, CBC News first reported an announcement was coming, and now it’s official.
What do you think about this announcement? Ready for Canadian-made content to hit Netflix soon?