Netflix expects to ‘exceed’ planned investment in Canadian content

Netflix Inc. says it’s “on track to exceed” its $500 million pledge to invest in Canadian content, a company official wrote in a blog post Friday. “This is because we continue to grow our business all over the world, and the quality of the shows and films we are making in Canada and other countries around the world are resonating with audiences everywhere,” said Corie Wright, Netflix’s director of public policy. The video streaming company touted it as the “most significant” investment in Canadian production to date from “any internet streaming video service.” It boasted that it has produced films and series across the country, including in Vancouver, Toronto, Montreal and St. John’s, among others, and that its Canadian investment has included programs such as Altered Carbon, Riverdale, Lost In Space, and many others. The company reached a deal last year with the federal government to invest $500 million in content production in Canada over five years. The commitment from Netflix was a major part of the government’s cultural strategy, announced this time last year. That was followed by a wave of criticism surrounding an absence of earmarks for French-language content, that Netflix does not have to charge sales tax on Canadian subscribers, and that it does not have the same regulatory obligations as traditional broadcasters. Netflix’s note comes amid continued debate over a so-called ‘Netflix tax’, and after the Liberal-dominated House of Commons international trade committee recommended earlier this year Ottawa should apply sales taxes on “tangible and intangible products that are sold in Canada.” The Conservatives meanwhile said in the report they oppose “a new tax on Canadians who use online video streaming services like Netflix.” The government's response, tabled this summer, said it "has been clear" it won't make Canadians pay more for online services, but it is "also examining the implications of the rapid growth in electronic commerce for tax systems." Netflix, meanwhile, also announced this week it plans to double its content production investments in France.

Netflix expects to ‘exceed’ planned investment in Canadian content

Brief | September 28, 2018

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Netflix expects to ‘exceed’ planned investment in Canadian content

Brief | September 28, 2018

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