A new law, which could go into effect as early as December of this year, would require that streaming services like Netflix and Amazon Prime, to fund and source content produced in participating European Union countries. News of the new law came via an exclusive report from Variety.
Netflix, Amazon and other streamers will be required to fund TV series and films produced in Europe by commissioning content, acquiring it or paying into national film funds through a small surcharge added to their subscription fee, something which is already happening in Germany. Netflix tried unsuccessfully to fight the German surcharge in court.
The law would require that at least 30% of the content from streaming service providers be essentially sourced in Europe, and that could go as high as 40% in some countries.