The German government is set to introduce an investment commitment on streaming platforms and TV broadcasters that would oblige them to invest 8% of their revenue in Germany in local content. It has also committed to nearly doubling its funding for the local film industry, the ministry of culture has said.
“This is not a symbol, but a real investment stimulus: for jobs, value creation, and creative excellence,” culture minister Wolfram Weimer said in a statement. Weimer is likely to speak about the changes at the opening of next week’s Berlin Film Festival.
The government proposals state that if the streamers and broadcasters invest 12% or more, they will be exempt from a number of regulations, for example a requirement to produce films in the German language.
The government has also stated it will boost funding for local film production to 250 million euros ($295.2 million) a year, nearly double the past level.
“Now the ball is in the court of the streamers and broadcasters on the one hand, and the producers on the other,” said Weimer.
Michelle Müntefering, CEO of Germany’s Production Alliance, which represents producers, welcomed the measures. She said, “There will be an investment commitment with retention of rights. This means that the planned funding from the Federal Ministry of Finance, under the leadership of Federal Finance Minister Lars Klingbeil, can now be released. The German film industry has long awaited this signal – because good stories need not only creativity, but also reliable framework conditions so that ideas can become real productions.”
English (US) ·