Netflix today announced its plans to invest at least $400 million in Canadian film and TV productions over the next five years, Variety reports. It’s the first time the streaming service has launched a permanent production presence outside the US.
The plan is part of a deal between Netflix and the Canadian government to support innovation in the digital realm, according to Vancouver’s News 1130. Netflix will reportedly create TV shows and movies in both English and French, as well as work with local Canadian producers and studios. If Netflix fails to commit to the agreed-upon investment in the given timeline, the Canadian government can apparently impose fines on the company, News 1130 reports.
“Today’s announcement affirms there’s more…