{
  "id": 12181663,
  "title": "VAT hike: Canal+ threatens to reduce its support for cinema",
  "url": "https://urgent.news/2026/10/05/vat-hike-canal-threatens-to-reduce-its-support-for-cinema",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-05T13:34:34.000Z",
  "source": {
    "name": "Euronews",
    "slug": "euronews",
    "url": "https://www.euronews.com/2026/10/05/vat-hike-canal-threatens-to-reduce-its-support-for-cinema"
  },
  "original_language": "en",
  "account": "Tensions are escalating between Canal+ and the government over plans to eliminate the reduced VAT rate for pay television. Canal+ CEO Maxime Saada vehemently opposes this move, calling it both political and absurd. He estimates the increase in VAT from 10% to 20% could cost his company around 200 million euros annually. If this were to happen, Saada warns that Canal+ would need to cut back on spending, potentially through internal savings, job cuts, or reducing its support for cinema.\n\nCanal+ plays a crucial role in financing French cinema, having invested 155.6 million euros in French films in 2025 alone. This accounts for nearly half of the investment made by traditional private broadcasters. Any reduction in Canal+'s spending could have a direct impact on the production of films.\n\nThe group was set to invest 980 million euros in French and European cinema between 2028 and 2032. However, Saada warns that a doubling of VAT could lead to a significant reduction in these commitments, possibly as low as three quarters fewer films. This threat arises against a backdrop of already tense relations at Canal+. In May, Saada announced that the company would no longer work with signatories of a column that criticized the influence of conservative billionaire Vincent Bolloré, who owns Canal+.\n\nThe French government is attempting to reduce its public deficit from 5.4% to 5% of GDP in its 2027 budget. The proposed VAT hike is part of this effort to generate additional revenue. However, it has sparked a new conflict with Canal+, a company resolute in defending its profit margins and its important role in France's creative industries.",
  "summary": "As the government drafts its 2027 budget, Canal+ is alarmed by a planned doubling of VAT on pay-TV. Boss Maxime Saada may slash film spending, threatening a sector it heavily bankrolls.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}