Netflix criticized the EU for new content quotas for its streaming service using its third-quarter earnings report.
In the report, Reed Hastings, CEO of Netflix, said that streaming services like Netflix are rewriting current audio visual rules to "require more than 30% of catalogs to be used for European assets". Netflix's report suggested that catering to specific audiences would encourage local creative programs for international audiences, but suggested that quoting for streaming services could have undesirable negative effects.
"I want to focus on providing great service to our members, including creating local content rather than satisfying quotas, but local content quotas that are close to the global share of global members will only reduce the satisfaction of our members" The report explained. "But regardless of market size, quotas can have a negative impact on both customer experience and creativity. We believe that a more effective way for a country to support strong local content is to encourage local content creators directly, "He said.
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