Leading French pay-tv group Canal Plus has renewed its contract with French film guilds to invest up to €180 million ($205 million) per year in local and European movies from 2019 to 2023.
The Vivendi-owned French paybox agreed to invest whichever is the greater of two amounts: 12.5% of annual revenue, or between €2.38 ($2.70) and €3.61 ($4.10) per subscriber (depending on the subscriber package). The maximum investment will be capped at $205 million per year – the first time a cap has been put in place.
Although the amount of Canal Plus’ investment has fallen over the past few years – from €211 million in 2013 to an all-time low of €142 million ($240.4 million) last year – because of declining revenues, it’s still one of the biggest commitments of any European broadcaster to funding local movies.
In addition, Studiocanal, the film and TV division of Canal Plus, will now be allowed to produce, in house, four feature films per year. Nicolas Dumont and...
The Vivendi-owned French paybox agreed to invest whichever is the greater of two amounts: 12.5% of annual revenue, or between €2.38 ($2.70) and €3.61 ($4.10) per subscriber (depending on the subscriber package). The maximum investment will be capped at $205 million per year – the first time a cap has been put in place.
Although the amount of Canal Plus’ investment has fallen over the past few years – from €211 million in 2013 to an all-time low of €142 million ($240.4 million) last year – because of declining revenues, it’s still one of the biggest commitments of any European broadcaster to funding local movies.
In addition, Studiocanal, the film and TV division of Canal Plus, will now be allowed to produce, in house, four feature films per year. Nicolas Dumont and...
- 11/8/2018
- by Elsa Keslassy
- Variety Film + TV
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