Macron says France and South Korea will invest $1.15 billion to support audiovisual industry

France and South Korea are committing 1 billion euros over five years to support the audiovisual sector, Emmanuel Macron announced at a summit attended by entertainment leaders from around the world.

Macron said the money would fund the Lumiere Partnership, an initiative intended to protect the industry and what he called cultural sovereignty. A source familiar with the matter said France’s state investment bank Bpifrance would provide 500 million euros, with South Korea contributing the other half.

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Together, we are committing one billion euros over five years to create what we have called the Lumiere Partnership, an initiative dedicated to supporting the audiovisual sector and cultural sovereignty.

The summit took place in the medieval village of Saint-Paul-de-Vence near Nice. More than 200 guests from 55 countries attended, including Hollywood actor George Clooney. Its name refers to Auguste and Louis Lumiere, the French brothers widely considered the inventors of motion pictures.

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Because our works also capture something about our era and who we are, and because behind every production there are creators, technicians, companies, jobs and an entire value chain, we must regain control over these major technological transformations.

The meeting focused on an industry facing declining cinema attendance, growing competition from streaming platforms and the rapid development of artificial intelligence. Macron urged a new form of multilateralism to support global film production, warning that technology must not become a tool that replaces authors, creators or voice actors. He also called for stronger copyright protection.

Macron further announced a new international organization for independent cinemas. He said the organization would aim to preserve the diversity of the independent cinema model.

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It would be a tremendous mistake