Netflix Inc. (NASDAQ:$NFLX) has reportedly committed to spending a considerable amount of money to create a stand-alone studio in Canada that will produce and distribute content.
Why? Many speculate the move comes as part of Netflix’s efforts to relieve tensions with global policymakers who are concerned about the streaming service’s growth.
Canada’s Heritage Minister, Melanie Joly, announced that Netflix will invest a minimum of 500 million Canadian dollars ($400.8 million) over the course of the next five years in original Canadian productions for Netflix’s global platform.
Further, Joly said the streaming giant has committed to spending a portion of the money on French-language content.
According to the Canadian government, Netflix’s plan to create a stand-alone Canadian unit represents a first for the streaming service on a worldwide basis.
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