The massive streaming platform Netflix will invest half a billion dollars into Canadian content over the next five years, according to sources from the CBC.
The funding will be officially announced on September 29 by Heritage Minister Melanie Joly. It comes as part of a speech outlining a vision for improved Canadian content and culture in the digital age.
Netflix has been under a certain amount of scrutiny from regulatory bodies and broadcasters alike. Normally, Canadian broadcasting stations must play a certain amount of home-grown content to meet a quota.
Groups wanted a tax imposed on Netflix that would contribute to more Canadian content, but this new deal will come as a win for both the streaming giant as well as the federal government.
Netflix has worked with Canadian broadcasters before, most recently the CBC on the second season of the Anne of Green Gables-inspired Anne.