Netflix Boosts South African Film Industry With US$1.9M Investment
Netflix, in partnership with the National Film and Video Foundation (NFVF), an agency of the South African Department of Sport, Arts and Culture, have announced an R28 million (US$1.9 million) injection towards the production of South African micro-budget feature films.
According to Netflix and the NFVF, the initiative aims to support the South African film industry's recovery, severely impacted by the COVID-19 pandemic and the heavy governmental lockdown regulations worldwide. Each partner contributed R14 million (Approximately US$950k), with Netflix adding the premier broadcasting of the six funded films into the agreement.
In a released statement, the NFVF Chief Executive Officer, Makhosazana Khanyile, stressed her appreciation of Netflix for their local content investment. The inclusion of digital platforms into our traditional processes can only profit the industry further. We hope that this is a start of a long and fruitful relationship, Khanyile said.
Netflix's Director of Content, Ben Amadasun, empathised with the creative community. Amadasun spoke of how the community has supported Netflix and how it is Netflix's turn to give back. "We want the industry to continue creating the stories our members love",, said Ben. Last year, Netflix contributed US$1 million towards the Covid Relief Fund in partnership with SASFED and IPO to assist the South African creative industry. "We are excited about this joint venture with NFVF for above the line talent", Ben said.
The funding submission portal will go live on April 1, 2021, the NFVF announced.