Bill Would Require Streaming Companies to Invest in Icelandic Culture Skip to content

Bill Would Require Streaming Companies to Invest in Icelandic Culture

By Yelena

lilja dögg alfreðsdóttir
Photo: Stjórnarráð Íslands.

Streaming companies operating in Iceland would be required to invest in Icelandic TV and film production if a new bill proposed by the Minister of Culture is passed. Both Icelandic and foreign streaming companies that service the Icelandic public would be required to do so. The goal of the bill is to strengthen Icelandic culture and language and encourage investment in local production. RÚV reported first.

5% of income back into Icelandic production

In recent years, international streaming services and social media have negatively impacted the competitiveness of domestic media in Iceland. The draft bill states that it is one part of measures intended to improve domestic media’s competitive position in regards to foreign streaming platforms.

If the bill passes, streaming providers would have to choose between two payment options. Either they would pay 5% of the subscription income from their activities in Iceland to the Icelandic Film Fund on an annual basis, of they would invest the same percentage in the production of domestic audio-visual content.

Public broadcaster exempt

The content produced under the requirements would have to include Icelandic cultural and social content. Half of the production costs would need to be incurred in Iceland or half of the shooting to take place in Iceland.

Streaming platforms with low turnover or few users would be exempt from the requirements, as would national broadcaster RÚV and similar public service media. Streaming services that do not offer films, fictional TV series, or documentaries would also be exempt.

Iceland’s Minister of Culture has previously taken on international streaming platforms in defence of Icelandic language dubbing and subbing.

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