6 SEP 2021

Streamers will have to double the investment in European content

Instead of 12.5% of net revenue, OTT players will have to up their investment in Italian and European content to 25% of net revenue in 2025.

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The Italian government, by transposing an EU directive, wants to double the investment obligations in Italian and European audiovisual productions. That means that all streaming platforms will have to invest double in Italian and European productions, instead of 12.5 %, they will have to up their investment in Italian and European content to 25% of net revenue in 2025.

"The feeling is that you have received an iniquity. And this is more difficult to carry out an investment decision. You trust a country if they treat you fairly and understand the logic of the elections," said Eleonora (Tinny) Andreatta, vice president of the Italian Netflix to IlSole24ore Italian daily.  And she does not hide her disappointment at the legislative decree scheme that transposes the EU Smav (Audiovisual Media Services) directive.

"In recent years, and in particular in the last year - specifies Andreatta - the Government is making one of the most ambitious bets on the audiovisual sector, through tax credit, the Cinecittà revolution and the creation of a system in general aimed at an expansion such as to make the audiovisual industry a cornerstone of the economic recovery". All this "in a climate, even heated, but one of discussion, openness, transparency. There was none of this on quotas".

"From 2017 to 2020 we invested more than 300 million in Italy. A figure that exceeds the public investment of 200 million we had set as a goal. We expect more than 45 shows (including series, films, documentaries and more, ed.) In two years", stated Stefano Ciullo, Director of Institutional Relations of Netflix Italy. "We have contributed to the ecosystem, worked and invested heavily in training. We cannot deny the surprise of a lack of dialogue and an unfair approach. Because being subjected to twice the obligations than the others (12.5% for all broadcasters and 17% for Rai, ed.)? We hope that there is time for a fair discussion for the whole sector".