Executive Vice-President for A Europe Fit for the Digital Age, Margrethe Vestager said:
"MediaInvest is a new investment tool designed to bridge the financial gap in the audiovisual sector. We need to stimulate more private investment to make our European media sector competitive at global level."
Commissioner for Internal Market, Thierry Breton, is today representing the Commission at the 75th edition of the Cannes Film Festival to meet industry leaders and professionals of the audiovisual sector. He will open the European Film Forum, and officialise the launch. He shared the following ahead of the opening:
“Media Invest- which I am launching today with our partners from the European Investment Fund - will strengthen European audiovisual industry, frequently underfinanced and in need of equity. It will crowd in up to€400 million in private investment to foster European audio-visual production and distribution and help companies better exploit their intellectual property assets.”
Media Invest is one of the 10 key actions of the Media and Audiovisual Action Plan presented in December 2020 to support the recovery and transformation of the media and audiovisual sector by combining investment with policy actions. You can find more information on ‘MediaInvest' in this factsheet.