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Netflix is set to invest $63 million in South Africa's film industry

March 31, 2022 9:47 PM

According to a Netflix spokesperson, the country has become a top global location for thr streamer's productions.

Netflix

Netflix has confirmed plans to invest a whopping 929 million rand ($63 million) into the film and television industry by 2023.

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Bloomberg reports that the global streaming platform's latest move will seek to improve its subscriber number on the continent.

Speaking on the investment, Shola Sanni, Netflix’s director of public policy for Sub-Saharan Africa, revealed that the funds will cover three local shows and an international production.

"South Africa is fast becoming a top global location for Netflix productions, with the country viewed as the go-to location with a robust and talented film industry,” Sanni said.

"These productions, which are just some of the many shows the company is creating in South Africa with local production partners like Film Afrika, Gambit Films, Quizzical Pictures, and Burnt Onion, will significantly boost the South African film and TV industry.”

The latest investment joins a list of reported investments funded by the streaming platform in the South African film industry since its entry in 2016.