It's not just "evil greedy production companies want to save money", as some other comments imply.
There is EU regulation requiring that 30% of content available on streaming services for European customers are "European works". The definition is a bit complicated, but this is definitely a big part of why plenty of production has moved to Europe and the UK.
If this goes through it could bring some problems for Netflix et al. They can always artificially restrict the low-value content content from customers in EU countries though. As if the arcane licensing and availability landscape wasn't crazy enough for media...
There is EU regulation requiring that 30% of content available on streaming services for European customers are "European works". The definition is a bit complicated, but this is definitely a big part of why plenty of production has moved to Europe and the UK.
If this goes through it could bring some problems for Netflix et al. They can always artificially restrict the low-value content content from customers in EU countries though. As if the arcane licensing and availability landscape wasn't crazy enough for media...
(See the "Audiovisual Media Services Directive")