Netflix invests ZAR 14 mln to fund South African films

News Video South Africa 19 MRT 2021
Netflix invests ZAR 14 mln to fund South African films

Netflix and the National Film and Video Foundation (NFVF) have announced a ZAR 28 million partnership to fund the production of six South African "micro-budget" feature films, MyBroadband reported. They will contribute ZAR 14 million each to support local films, all of which will premiere on Netflix. The NFVF and Netflix said that the initiative will help the recovery of the film industry after the impact of the Covid-19 pandemic and government lockdowns.

The funding is categorised into two streams. Stream 1 has a ZAR 16 million total budget for four feature films by emerging filmmakers, capped at ZAR 4 million. Stream 2 has a  ZAR 12 million total for two fictional feature films by established filmmakers, capped at ZAR 6 million.

Makhosazana Khanyile, the CEO of the NFVF, said that the organisation appreciates Netflix's investment in local content.

Categories:

Video

Companies:

Netflix

Countries:

South Africa

Tags:

Internet Access, Broadcast, Enterprise, Financial funding

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