Netflix has been making headlines recently with its plans to expand across Africa. The streaming giant recently released its socio-economic report, showing how well it has done since making its way to sub-Saharan Africa in 2016.

According to the report, the company invested a total of $175 million in South Africa, Nigeria, and Kenya from 2016 to 2022.

Interestingly, South Africa received the most significant share of these investments- about 71% of the total investments went to the SA film industry.

The investment aimed to develop the local creative ecosystem, focusing on bridging the finance gap, conjuring collaborations, talent development, and commercializing the industry.

According to the regional head, it was always part of Netflix’s plans to invest heavily in African storytelling.

Africa offered a development potential that the company hoped will reassure investors. Still, the decision to invest significantly in South Africa can be linked to specific market dynamics such as having a favourable regulatory environment, and SA’s reputation for having a more advanced infrastructural setup.

The South African entertainment industry is a vibrant and growing one. Over the years, the industry has achieved success by fusing its rich and diverse cultural heritage into high-quality content that resonates with audiences, locally and globally.

The industry has produced stars like Thusu Mbedu and solid shows like Blood and Water have gained success on different continents.

In Netflix’s six years on the continent, the company has released 170 licensed productions, and 16 Netflix originals.

Blood & Water, its most successful so far, was an immediate success. It topped charts in Africa, the USA, the Caribbean, Spain, Austria, Germany, the UK, and France.

Yet before Netflix pitched a tent in Africa, South Africa already had a reputation as a renowned creative space.

As one of the world’s oldest filmmaking industries, the creative country has always been recognized globally for its success in producing feature films. 

In 2012, the Hollywood blockbuster “Chronicle” was produced at Cape Town Film Studios in South Africa, a movie that went on to make an impressive $126 million in ticket sales worldwide.

Part of the things that made SA so desirable to international filmmakers was its abundance of locations and highly skilled technical professionals involved in the production cycle.

It also helped that shooting a movie in SA was not as expensive due to its rand’s performance against the dollar. For example, the makers of Chronicle had spent merely $12 million on production costs making 100 more times in sales.

Africa Grey Parrot Newsletter is a daily Newsletter aimed at projecting only the positive news from and of Africa. Through my newsletter, you will discover the untold stories of Africa, rich in hope, resilience and progress.

Subscribe, comment and share this newsletter, and let's create a ripple effect of positivity and progress that will change lives and shape the future.

Let's believe in Africa again.

If you have inspiring news about Africa, kindly share it with us to be featured in Africa Grey Parrot Series.

ENDS

UPCOMING LINKEDIN PROFILE OPTIMIZATION AND GROWTH COURSE

📌Learn how to market your skills on LinkedIn

📌Practice how to advertise yourself for jobs on LinkedIn.

📌Attract recruiters.

📌Influence Employers to contact you themselves.

📌In 2023, recruiters are looking for job seekers who have something to offer already. They need evidence on Social Media, and the best professional platform is LinkedIn. Optimize your Profile on LinkedIn and get hired.

📌You need to identify your talents and skills which you can monetize online.

📌Use the skills you acquired from your Degree or Certificate to make money from the comfort of your home.

📌Join this class, and get help for 20 days.

📌All for free!!!!!!!!

Click on this link and Join Cohort 3

All for free