Source: Business Insider
France is reportedly finalizing legislation that would force video streaming services to invest 25% of the revenue they generate in the country towards local French productions. According to Bloomberg , the bill – which targets streaming giants such as Netflix, Disney, Amazon and Apple – will be debated by the French parliament in March and will be enacted if a vote this summer goes its way. Emmanuel Macron’s government has drafted laws aimed at retaining “cultural sovereignty in the digital era,” and has become something of a standard-bearer for European attempts to rein in big tech’s influence. France’s so-called “big tech tax” – which will impose a 3% tax on any digital company with revenue higher than €750 million ($850 million) – has generated controversy across the Atlantic, with US president Donald Trump threatening last month to impose retaliatory tariffs on French goods. Visit Business Insider’s homepage for more stories. France could soon land yet another blow on the US tech giants.