There could be new changes coming for US streamers looking to the UK market, as calls to protect “distinctly British content” and make international streaming platforms pay their dues into the UK entertainment market intensify. Entertainment lawyer at Blake & Wang P.A., Brandon Blake, has the news to share.
Calls for Greater Support
The potential levy was included as part of a slew of recommendations from the House of Commons’ Culture, Media, and Sport Committee. These also include adding some increased tax incentives for independent productions and cinemas alongside the proposed 5% levy on UK subscriber revenue for non-local streaming services.
These enhanced tax incentives are particularly targeting TV productions, hoping to improve their level of support to match that offered to independent film in the UK. Currently, it’s recommending that productions with budgets between £1 million-£3 million be considered.
Establishing a “Cultural Fund”
As for the proposed streaming levy, its intended target is a cultural fund designed to help finance drama of specific relevance to British audiences. While they are currently suggesting it be voluntarily established by the streamers themselves, they are willing to push for a statutory levy should buy-in not be strong. Encouraging ways for British producers to retain more of their IP rights when working in conjunction with streamers was another focus of the report.
It’s important to note that their intention is not, particularly, to hold back the UK’s ever-increasing role as a filming location. However, while they did note that streamers like Netflix and Amazon have been “valuable additions” to the local industry, they expressed concern that this boom may well crowd out independent UK producers, and are aiming to better support these key parts of the local film industry. In short, finding an equitable way to even the playing field with major international outlets with deep pockets to spend on advertising and marketing that British independent film can’t match.
While the levy is only at the proposal stage, this will definitely be a development to watch as it moves forward.
