Netflix to Open Canadian Office, Invest Half a Billion Into Content

Netflix has finally caved in and decided if you can not beat them, join them. Melanie Joly, Canadian Heritage Minister, has made an announcement this morning, that Netflix will be coming to Canada with a lot of cash.

jgryntysz / Pixabay

The deal is for Netflix to open an office in Canada, and invest $500m into Canadian content production over 5 years. This way Canadian government will not tax Netflix. However Canadian government said that if Netflix does not end up investing the whole amount, they will impose fines on the media giant.

 

Mélanie Joly

"We want them to participate in our goals to support the creation and discovery of Canadian content that showcases our talent, our cultures and our stories. I’m pushing for commitments that benefit our industries.

Our approach will not be to bail out industry models that are no longer viable. Rather, we will focus our efforts on supporting innovation, experimentation and transition to digital."

- Melanie Joly , Heritage Minister

Joly also mentioned that Facebook and Google will help fund some media programs at Ryerson University in Toronto.

Not everyone was happy with this investment by Netflix though. Nicolas Marceau, Member of the National Assembly of Quebec for Rousseau, has said that Canadian government is taking hand outs instead of taxing the Internet companies like Netflix and Google.