Netflix to double investments in France, produce more local shows

Published: September 28, 2018 13:56:27 | Updated: September 30, 2018 11:15:11

Netflix CEO Reed Hastings speaks during a programme. File photo

American streaming service Netflix Inc plans to double its investments in France and produce 14 local shows, twice as many as previously planned, Chief Executive Reed Hastings said Friday.

Hastings did not disclose how much Netflix would invest in France, though it would be “many millions of euros”, he told French radio station BFM Business.

The US tech company plans on setting up an office in Paris, the CEO told French business newspaper Les Echos in a separate report.

The decision comes as the number of subscribers has expanded quickly in France and now stands “in the region” of 3.5 million, adds Les Echos.

Netflix has clashed in the past with French authorities over local regulations that force broadcasters to pay taxes to finance locally made movies and series, according to Reuters.

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