For several years now, we’ve seen changes in the way cinema is consumed. Streaming platforms (mainly American ones) like Netflix, Amazon Prime Video or even Disney + are taking up more and more space. While Amazon formalized the acquisition of Metro Goldwyn Mayer for $ 8.45 billion yesterday, the Walt Disney Company offered 21st Century Fox in March 2019 for $ 71.3 billion.
So many investments that show the extent to which these giants have the seventh art under control. In light of this, the Canal + group, with sales five times lower than Netflix’s in 2020, is looking for a solution to stay in the race. As you have probably noticed, Netflix and other platforms are increasingly trying to promote local productions. This was particularly the case with the Lupine series, which had immense success in France and abroad.
Canal + feels forgotten
However, Canal + would like to point out that the investment in French cinema was and is substantial long before the rise of these platforms. The French group currently represents 20% of the cinema budget in France. In a recent interview with Le Figaro, Maxime Saada, the president of the Canal + group, implied that he might stop this funding due to the dominance of streaming platforms.
Canal + doesn’t seem to have digested the upcoming media chronology reform. This reform should make it possible to shorten the time between theatrical release and streaming availability from 36 to 12 months. Note that this reform is only possible if the SVOD platforms invest 20-25% of their turnover in France in French cinema.
It is important to know that Canal + only has to wait 8 months before a film can be broadcast. Maxime Saada explains that if the reform is adopted, the French audiovisual group will ask for a new period of four months. Without that, Canal + could end its funding.