Netflix confirms $400 million investment in Canada

PanARMENIAN.Net - Netflix is going to be dropping some coin in the Great White North.

Under an agreement with the government of Canada, Netflix has agreed to invest a minimum of $500 million Canadian (about $400 million U.S.) in original productions in the country over the next five years, Variety said.

Netflix will establish a permanent, multipurpose film and TV production presence in Canada — the first time that the company has done so outside the U.S. With its spending commitment, Netflix will work with Canadian producers, production houses, broadcasters, and other partners to produce original Canadian content in both English and French.

“Today’s announcement affirms there’s more to come as Netflix launches Netflix Canada, our permanent production presence in Canada,” Netflix chief content officer Ted Sarandos said in a statement. “We look forward to continuing our work with Canadian talent, producers, broadcasters, and other local partners to create Netflix originals in Canada for many years to come.”

Of course, Netflix has already been doing biz in Canada. In announcing the pact, the Canadian government called out “Alias Grace,” a co-production of CBC, Netflix and Halfire Entertainment.” The adaption of Margaret Atwood’s novel, starring Anna Paquin and Sara Gadon, will air on CBC Television in Canada and will stream on Netflix globally. The six-hour miniseries, written and produced by Sarah Polley and directed by Mary Harron, is set to premiere Nov. 3 on the streaming service.