EXCLUSIVE: The European Broadcasting Union (EBU) has responded to Reed Hastings’ claim that Netflix is the “biggest builder” of cross-country culture in the EU.
The EBU, which represents Europe’s public service broadcasting networks, said its members spend €20 billion ($21 billion) a year on homegrown content, far outstripping investment in SVOD services.
It comes after Hastings on Monday spoke about Netflix’s cultural capital, specifically its ability to attract viewers from one country to content from another.
Speaking at Netflix’s headquarters in Amsterdam, the company’s co-founder and CEO joked that it was “ironic” that an American company had obtained such a position. He said this is “partly because all the other networks are national networks that specialize in one language group. We specialize in making connections.”
However, in a statement to Deadline, the EBU pointed to several statistics by which European networks lead international streaming competitors.
“Public media is proud to be the largest investor in European content,” the organization said. “Our members fund 43% of all European content, excluding news and sports, while SVOD services account for less than 2% of content for their revenue account. Public media not only produces original European programs, but also distributes them.”
The statement also said that its members – including the BBC, France Televisions and ZDF – “prioritised European content on our VoD platforms, with 95% of programs originating from a European country, compared to just 31% of content .” available from Netflix”.
The Los Gatos-based streamer is meeting its 30% content quota in most major European territories, a report by Ampere revealed last year, and is quietly building its European content library without affecting its regional operations.
Netflix spent about $16.8 billion on content worldwide last year and pushed hard in the EMEA region, making it the biggest streamer last year with 76.7 million subscribers.
The EBU has 68 members in 56 countries across Europe.
Source: Deadline
Elizabeth Cabrera is an author and journalist who writes for The Fashion Vibes. With a talent for staying up-to-date on the latest news and trends, Elizabeth is dedicated to delivering informative and engaging articles that keep readers informed on the latest developments.
