French broadcasting group TF1 has signed a renewed agreement with the local film industry vowing to amp up its investment in local production as it seeks to give a boost to its streaming platform.
The group signed a three-year agreement with cinema guilds the BLIC, BLOC and ARP that represent distributors, exhibitors, producers, directors and writers in which it says it will invest 3.65% of its total net broadcasting revenue in pre-buying and buying new French and European feature films, up from 3.5% in a previous agreement signed in 2021.
In exchange, the films will be available for replay on its free streaming platform TF1+ for 30 days, compared to just seven days previously.
TF1 has also committed to pre-financing on average a minimum of 19 original French or European films per year, up from 17, and says it will spend at least EUR19.2m on acquisitions of original French or European films.
In a statement, the group says the new deal is meant to “strengthen TF1 group’s support for the French film industry and modernise the group’s film rights in light of changes in viewing habits”.
Its streaming service competes with both French powerhouses like Canal+’s myCANAL, public network France Televisions’ France.tv, and the likes of Netflix, Prime Video, Disney+ and Max.
TF1 Group spent EUR50.20m in pre-financing films in 2023. Upcoming films pre-bought by TF1 include October 23 release Monsieur Aznavour starring Tahar Rahim and Pathe’s epic two-part biopic about Charles de Gaulle that wrapped shooting this summer.
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