Netflix signs deal with Mediaset to co-finance Italian films

This post was originally published on this site

By Elvira Pollina

ROME (Reuters) – Netflix (O:) has struck a deal with Italy’s top commercial broadcaster Mediaset (MI:) to produce films in the country, the two companies said on Tuesday, as they step up efforts to boost viewers amid tough competition.

The U.S. streaming service and Mediaset, which is controlled by the family of former Italian Prime Minister Silvio Berlusconi, will co-finance movies shot in Italy by independent local film-makers. The movies will be available worldwide on Netflix from next year. Mediaset will broadcast the Netflix-branded movies on its free-to-air television channels in Italy twelve months later.

Presenting the accord in Rome, Netflix and Mediaset unveiled the first five films they will co-produce, including ‘The Divine Ponytail’, a biopic on Italian soccer legend Roberto Baggio, ‘Caught by a wave’, a teenage romance set in Sicily and ‘The last paradise’, the real story of a 1950s farmer caught between social reform ideals and his love for a landowner’s daughter.

“Great stories can come from anywhere and be loved everywhere”, Netflix founder and Chief Executive Reed Hastings said, adding the deal aimed to broaden “the variety and diversity of our programming”.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.