This surge in investment coincides with new regulatory requirements in several European countries, such as Germany, which are introducing mandates for streamers to invest more in local content. These investment obligations aim to bolster regional media industries and ensure that European stories are well-represented on global platforms. While many competing streaming platforms have scaled back their commissioning activities amid a downturn in 2024 production, Netflix is maintaining its aggressive investment strategy. Paramount+ has announced cutbacks on local originals, and Sky has ceased commissioning new content in Germany. In contrast, Netflix’s proactive approach highlights its dedication to the European market.

Tanz expressed a preference for flexible investment strategies over rigid quotas, arguing that flexibility fosters creativity. He cited Spain as an example where Netflix has successfully navigated regulatory obligations while maintaining creative freedom, as evidenced by their significant investment in the Tres Cantos studio facility near Madrid.

Netflix’s evolution in handling content rights further demonstrates its adaptability. Initially following the Hollywood model of rights ownership, Netflix now owns the intellectual property for only 25 per cent of its European content, increasingly relying on licensed content to diversify its catalogue.

Tanz, who has been based at Netflix’s European headquarters since 2019, noted the significant shift towards local production. “When I started, everything was commissioned out of LA,” he remarked. Today, local series and films are being pitched, developed, and produced within Europe, reflecting a deeper integration into the regional creative ecosystems.

Currently, Netflix is collaborating with over 400 producers across Europe and has established 11 local offices in the region. Tanz announced two new series: an untitled French thriller starring Isabelle Adjani and a Dutch crime drama titled Amsterdam Empire featuring Famke Janssen. These additions illustrate Netflix’s broad genre and geographic range in its European content portfolio.

Upcoming shows include Istanbul Encyclopedia, directed by Turkish director Selman Nacar; UK writer Charlie Covell’s mythological dark comedy Kaos; and the Polish maritime disaster series Heweliusz. These diverse projects highlight Netflix’s commitment to telling varied and culturally rich stories.

Netflix has also expanded its non-fiction offerings in Europe, with popular reality shows like Love Is Blind and documentaries focusing on prominent sports figures, such as David Beckham and the Tour de France.

Netflix also partners with local theatrical distributors through pay-one licensing deals, ensuring high-quality content from filmmakers like Italy’s Paolo Sorrentino. Despite these acquisitions, commissioning original films is still central to Netflix’s strategy, with upcoming European originals such as Ferry 2 from the Netherlands and The Platform 2 from Spain. All of Netflix’s top non-English language films globally are from the EMEA region, demonstrating the success of this approach. Titles like Norway’s Troll and Germany’s All Quiet On The Western Front highlight Netflix’s broad appeal.

A key part of Netflix’s strategy involves Foreign Invested Enterprises (FIEs), which are business entities set up in countries with foreign capital. These FIEs benefit from local incentives and regulations, allowing Netflix to adapt to various markets. The Tres Cantos hub, Netflix’s largest filming base in the EU, hosts major projects like Money Heist and the upcoming Breathless. Diego Ávalos, Netflix’s VP of content for Spain, Portugal & Nordics, emphasised the importance of delivering great films, whether they are Netflix originals or acquisitions, to meet viewers’ diverse tastes. Netflix’s ongoing investment in European content, strategic use of FIEs, and flexible regulatory approach ensure it continues to thrive and contribute significantly to the regional media landscape.