Streaming services and broadcasters to invest in German film sector

Streaming services and broadcasters, both public and private, plan to invest a total of €15.5 billion ($18 billion) in Germany's film sector over the next five years, dpa has learnt from government sources.

Germany's ARD and ZDF public broadcasters are among the contributors, along with private companies, the sources said, without specifying how the money would be distributed.

A few weeks ago, Culture Minister Wolfram Weimer conducted talks with streaming giants Netflix, Disney, Amazon to convince them to invest more in the German market. Afterwards, he said he was expecting a "major investment impulse."

Weimer has rejected a statutory investment obligation, citing possible legal risks and lengthy procedures. The Social Democrats, the junior partner in Germany's conservative-led coalition government, have called for binding legislative rules.

The German government is separately planning to boost subsidies for the film sector from 2026.

Weimer and Finance Minister Lars Klingbeil indicated earlier this year that funding for the two large film funds run by the government will rise to €250 million. Along with other subsidy programmes, this will bring government support for the sector to around €310 million.