Global streaming giant Netflix Inc. is turning its attention to South Africa as it looks to boost subscriber numbers on the continent.
The company will pump 929 million rand ($63 million) into the creatives industry by 2023, with the funds covering one international production and three local shows, it announced at the South Africa Investment Conference in Johannesburg on Thursday.
“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,” Shola Sanni, Netflix’s director of public policy for Sub-Saharan Africa, said.
The investment conference is an annual event initiated by President Cyril Ramaphosa in 2018 that seeks to secure domestic and inbound investment of 1.2 trillion rand over five years.
On Tuesday (March 29), Disney+, the streaming service from The Walt Disney Company (www.TheWaltDisneyCompany.com), confirmed it will launch the streaming service in South Africa on 18 May 2022. The South African pricing was also announced at R119.00 per month, or R1 190.00 for an annual subscription.
With exclusive original content and thousands of episodes and movies from Disney, Pixar, Marvel, Star Wars, National Geographic and general entertainment from Star, Disney+ is the streaming home for some of the world’s most beloved stories.