Netflix to pump $63 Million In South Africa’s Film Industry

Netflix to pump $63 Million In South Africa’s Film Industry

Global streaming giant Netflix is turning its attention to South Africa as it looks to boost subscriber numbers on the continent.

The company will pump 929 million rands ($63 million) into the creatives industry by 2023. The funds will cover one international production and three local shows, announced at the South Africa Investment Conference in Johannesburg on Thursday.

“South Africa is fast becoming a top global location for Netflix productions. The country is viewed as the go-to location with the robust and talented film industry,” Shola Sanni, Netflix’s director of public policy for Sub-Saharan Africa, said.

An investment conference is an annual event initiated by President Cyril Ramaphosa in 2018 that seeks to secure domestic and inbound investment of 1.2 trillion rands over five years.