France: Netflix passes 10m subs
July 12, 2022
From Pascale Paoli-Lebailly in Paris
Netflix co-CEO Ted Sarandos has revealed the streaming platform has now passed 10 million subscribers in France. The next most recent update in 2020 claimed 7 million subscribers.“[With] one home representing several accounts, the number of users is even higher,” Sarandos told French newspaper JDD. Addressing the Choose France summit, Sarandos said Netflix, which reports 222 million subscribers globally, has become a “great exporter of French culture”, referencing titles such as series Lupin [pictured] from Gaumont TV. The streaming service is currently investing heavily into the French content industry, having put €200 million into movie and TV creation in 2022,for a total of 25 original projects coming to the platform; 20 are already in production. Netflix signed its first financial agreement with the French movie industry in January 2022, and will contribute at least €30 million annually, (€40 million in 2022) into French-speaking movies for the next three years. Under the terms of the new media release window, Netflix is allowed to offer its movie originals 15 months after their theatrical release instead of 36 previously. “France is an exception,” stated Sarandos. “This release window isn’t a long-term model. I think a good one is a few weeks and not a few months.” Confirming the platform was looking at launching an ad-supported option, after it reported a net loss of 200,000 subscribers Q1 2022, Sarandos stressed this loss should be seen in context, noting: “After achieving the best performance in 2020, we’re expecting to lose two million subsscribers worldwide this quarter”. If the prediction rings true ( Netflix’s Q2 earnings will be revealed on July 19th), they won’t limit the overall investment in content creation. Sarandos confirmed this would amount to €17 billion in 2022 regardless of any subscriber losses.