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France’s Canal+ Group Signs Deal With Local Guilds to Invest at Least $503 million in French, European Films Over Next Three Years
France's Canal+ Group has signed an agreement with guilds to invest at least €480 million ($503 million) in French films over the next three years.
The group CEO Maxime Saadaeven warned the Senate last month that Canal+ could potentially slash its investment by half if if they were not given a significant boost in the windowing schedule. The French pay TV giant has traditionally stood out as the biggest financier of Gallic films and as such has been in pole position in the country’s strict windowing schedule. The bulk of Netflix’s investment in French content (an estimated $200 million) is dedicated to audiovisual works such as TV series, documentaries and movies aimed to launch straight on the service.
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