American movie streaming site, Netflix has announced that it has invested the princely sum of $1.9 million in a partnership that’ll help boost the burgeoning South African film industry.
Reports say the new deal which is in a bid to support South African filmmakers recovering from the impact of the Covid-19 pandemic, will see each partner contribute contribute R14m (US$950,000).
The development was revealed by Business Tech, which informed that the partnership with National Film & Video Foundation (NFVF) will see the funding of six South African produced films.
According to Business Tech, four emerging filmmakers will be offered a budget of R4 million to produce feature films while two established filmmakers will be offered R6 million while also adding that all six productions will receive exclusive debuts on Netflix.
Netflix’s director of content in Africa, Ben Amadasun who confirmed the news said: “The past year has been incredibly difficult with the pandemic hitting so many industries around the world. The creative community that we are a part of has supported us through the good times so we want to help them continue to create the stories our members love. Now we’re excited to take this a step further with this joint fund with NFVF for above-the-line talent.”
Makhosazana Khanyile, NFVF CEO added: “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.”