Netflix will license Johnny Depp's next movie, but it will only stream in France

• Netflix says it has licensed Johnny Depp's next movie, but will only stream it in France.
• The movie, "La Favorite," will be on Netflix in France 15 months after it hits French cinemas.

Johnny Depp has found his next movie after his high-profile defamation lawsuit against his ex-wife Amber Heard. It will be on Netflix in France after a theatrical run.

Bloomberg reported on Thursday that the streaming giant would co-finance "La Favorite," starring Depp as King Louis XV.

But Netflix told Insider that the movie doesn't have financial backing from the company and it has only licensed the movie in France. It will be available on the service in the country 15 months after it hits French cinemas.

A jury last month found that Heard defamed Depp in a 2018 Washington Post op-ed, in which she said she was a victim of abuse without naming Depp. Heard countersued, claiming that a lawyer for Depp defamed her when he called her abuse allegations a "hoax."

Depp was awarded $15 million in damages, while Heard was awarded $2 million.

Depp's career has stalled in recent years amid the allegations. During the defamation trial, his manager claimed that Depp lost out on a $22.5 million deal to return for a sixth "Pirates of the Caribbean" movie.

His last film role was in 2020's "Minamata," which was a box-office dud, earning just $2 million.

As for Netflix, the streamer has been embroiled in its own turmoil, losing 200,000 subscribers in the first quarter of this year. It's expecting to lose 2 million more in Q2.