Over the next three years, France’s foremost pay-TV brand, Canal+ Group, will be investing a minimum of €480 million (approximately $503 million USD) into French cinema productions as part of an agreement with local film associations.
The deal, which follows a contract granting Canal+ continued access to movies for six months post-theater release, was the result of lengthy and at times challenging negotiations with local guilds such as BLIC, BLOC, and ARP. These talks lasted several months before the agreement was finally reached. Previously, from 2022 to 2024, Canal+ had invested €600 million ($630 million) under a different contract that expired in December last year.
Negotiations between Canal+ and Disney+ nearly stalled when Disney+ secured an agreement with unions, enabling them to obtain movies after only nine months (previously 17 months). This deal comes with an annual investment of €40 million ($42 million). The CEO of the group, Maxime Saada, recently cautioned the Senate that Canal+ might reduce its investment by half if they don’t receive a substantial extension in the release schedule.
Today’s agreement brings a sense of relief to the French industry, as several projects that heavily rely on Canal+ for initial funding have been in limbo for quite some time.
Historically, a major French pay TV company has been known for its significant financial backing of French films, giving it a prominent role in the country’s rigid release schedule. This schedule dictates the rights allocation order for each participant, from free-to-air broadcast to global streaming platforms, based on their investment in local productions. This system has safeguarded the French cinema industry, which was one of Europe’s strongest in 2024, and has also boosted local film production.
Starting January 1st, the Canal+ agreement will be implemented and remain active until December 31, 2027. Under this renewable contract, Canal+ has committed to invest 150 million euros in French movies for the year 2025, followed by 160 million euros in 2026 and 170 million euros in 2027. Moreover, the pay TV group has also promised to continue supporting films with budgets under €4 million.
Although Disney+ has been around for nine months, Netflix won’t be able to access films for another 15 months after their theater releases, due to the fact that Disney+ invests a larger proportion of its funds in theatrical movies compared to Netflix, despite Netflix investing more money per project (approximately $50 million). A significant portion of Netflix’s investment (estimated at $200 million) in French content is directed towards TV series, documentaries, and films intended for immediate release on their platform.
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2025-03-03 23:17