The Union has adopted a recovery plan for the media and audiovisual sector

The Union has adopted a recovery plan for the media and audiovisual sector

The European Commission adopted an action plan to support the recovery and transformation of the media and audiovisual sector in the Union. According to the Commission, the sector most affected by the corona crisis is crucial for democracy, Europe's cultural diversity and its digital autonomy. The action plan focuses on three areas of action and offers 10 concrete measures to help the media sector recover from the crisis by facilitating and expanding access to finance. The sector is to be transformed with new investments that will support green and digital transformation, while ensuring the sector's resilience and improving the position of European citizens and businesses. Under the Mechanism to support recovery and resilience contained in the post-corona recovery plan, at least 20 per cent of the expenditure on the digital area will be allocated to each national recovery and resilience plan. This package will also include measures to support the production and distribution of digital content. The action plan aims to facilitate access to support through a dedicated instrument that will allow media companies to find all funding opportunities from the Union budget, support investment in the audiovisual industry through the MEDIA INVEST initiative, which aims to mobilize € 400 million over seven years. Last but not least, it is to launch the "NEWS" initiative to combine measures and support for the news media sector. The Commission would like to strengthen the media and audiovisual sector in the EU, and therefore recommends improving access to and availability of audiovisual content throughout the EU in order to reach new audiences and increase content. It also recommends, among other things, promoting talent in the European media and start-up media companies, and increasing citizens' media literacy. According to the press release, most of the measures set out in its action plan will be adopted in the first months of 2021.