Netflix Expands International Footprint With Paris Office
Zacks Investment Research | Jan 20, 2020 05:28AM ET
Netflix (NASDAQ:NFLX) recently opened a new office in Paris and plans to develop several new French shows in the coming years as well as several series and films developed by its production partners.
The company has already developed 24 French titles and will invest more than €100 million to develop more than 20 new French-language productions in 2020.
Upcoming productions include Big Bug, a comedy set in the future, and a series about gentleman-burglar Arsene Lupin, among others.
The decision to expand its French content portfolio comes after the French government’s announcement to force platforms like Netflix to invest at least 25% of their revenues earned in France to fund domestic content production.
Although this comes as a setback for the company and is likely to hurt its profitability in France, Netflix can leverage this to expand its presence in the country and become a major studio.
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