Variety reports that this is set to become law in December.
This can be achieved by commissioning European content, buying existing TV shows and movies – or by paying into national film funds, an approach currently taken in Germany.
“We just need the final vote, but it’s a mere formality,” he told Variety at the Venice Film Festival.
Companies will have 20 months to comply, and individual countries can set the quota as high as 40% if they wish, as well as having the option to set smaller quotas for content produced in their own country.
Separate copyright legislation in the works will require platforms like YouTube to pay a higher share of ad revenues to the rights owners. Currently, YouTube often makes more money than the people who created the content.
Photo: Daniel Acker/Bloomberg
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