Netflix CEO Reed Hastings is in Paris today where the declaration was made regarding a new office for the streaming service.
The global influence of Netflix continues to expand as it opens its branch in the French city which is the third bureau in Europe.
Hastings said that the opening of the French office was suitable due to the fast surge in Netflix’s subscription base in the western European country since it started serving there in 2014.
Hastings also affirmed that after meeting with the officials of Le Centre National du Cinéma et de L’image Animée (CNC), the national movie organization of France, Netflix would begin to honor its two percent tax obligations on its yearly revenues in the European country.
The Netflix head said that the company’s global growth outside the United States is 72 million. He affirmed that France had been a positive and important contributor to that development.
The streaming service already has outposts in London and Amsterdam. Recently, the company announced that there is also a Madrid-based production office.
A Netflix representative disclosed that the Paris headquarters would have 20 workers. Some of them will be transferring from the Amsterdam branch.
The streaming service executives will have marketing, production, and acquisitions responsibilities.
Netflix had a small unit in Paris. However, in 2016, it was shut down, prompting theories that the streaming service provider desired to find more beneficial tax setups in other regions in Europe.
The relations of the streaming service with France have been beset with challenges. Among the reasons is the misunderstanding with the Cannes Film Festival officials. Another is the stringent windowing regulations of the country.
Furthermore, the European projects of Netflix have been scrutinized by the legislators of the European Union recently.
Nevertheless, Paris is indubitably one of the most significant TV and movie centers in the world. Thus, Netflix reckons the appropriateness of setting up an office there.
Hastings remarked that Netflix had become a “good European citizen.” Hence, they are getting rid of the concerns that other expanding corporate organizations have had.