Netflix regards Italy as one its key international growth markets. That strategy was further confirmed today by a report in Bloomberg revealing a seven-picture deal between the streamer and local broadcasting giant Mediaset, which is run by the family of former Prime Minister Silvio Berlusconi.
According to reports, Netflix CEO Reed Hastings will officially reveal details about the pact next Tuesday. Netflix declined to comment.
Netflix has built a strong presence in Italy via local acquisitions, original TV series and at festivals such as Venice. The streamer is said to be approaching 2 million subs in the region and has lined up €200m investment in local content over the next few years.
Earlier this week we revealed news of the streamer joining The Incredible Story Of Rose Island (L’Incredibile Storia Dell’Isola Delle Rose), a comedy feature from Sydney Sibilia, director of the successful Italian franchise Smetto Quando Voglia.
Mediaset is just one of a handful of Euro broadcasters scrambling to build scale and international reach in response to rapid expansion by the global streamers.
The revelation of Netflix’s latest content splurge in the territory couldn’t have come at a more opportune moment.