Brazilian authorities to allocate R$1.6 billion to support the production of films and TV series

The Brazilian federal government plans to invest R$1.6 billion (US$296 million) to support the production of audiovisual content. Special attention is planned to be paid to national films and TV series. The announcement was made at an event in Rio de Janeiro to mark National Cinema Day, reports Brasil247, a partner of TV BRICS. At the ceremony, President Luiz Inacio Lula da Silva signed a decree regulating quotas for the screening of Brazilian films. The law, which came into force in January this year, requires cinemas to allocate space in the programme for domestic films until 31 December 2033.

The aim of the law is to support and develop national cinema. A specialised agency will monitor compliance with the regulation.The president also raised the need to regulate streaming services and taxation of digital platforms in general.

"The arts are meant to educate and inspire people, that's why we invest in them".

The ceremony also saw the announcement of a new credit line to support the audiovisual industry. The programme, developed with the Ministry of Culture, has an initial budget of R$400 (US$70) and targets companies planning major projects.