The European Parliament has voted to approve new regulations that will place a European content quota on streaming services like Netflix and Amazon Prime Video. Once the new rules are formally approved, 30 percent of video-on-demand platform content catalogs will have to be European -- a move aimed at supporting "the cultural diversity of the European audiovisual sector." Additionally, these companies will be asked to support the development of European productions either through direct investment or by paying into national funds, contributions that should be "proportional to their on-demand revenues in that country."
While some companies, like Netflix, are already nearing that quota, they'll be required to maintain it going forward. Last month, Roberto Viola, head of the European Commission's communications networks, content and technology division, told Variety that the European Union would publish information on how streaming platforms currently stand in regards to their European content. The figures are expected this month.
Netflix has put a focus on European programming, launching a production hub in Spain and committing $1 billion towards original European productions this year. Meanwhile, Amazon has stepped up its European efforts as well.
The new regulations still need to be approved by the Council of EU ministers. Afterwards, EU member states will have 21 months to incorporate the rules into their own legislation.