American media services provider Netflix Inc plans to expand operations in Africa having invested $175 million in film production.
According to the global entertainment giant, its investment in Africa since 2016 has already created a positive impact – from a broad economic perspective and on people’s lives.
“Expanding our business here is good for Netflix,” the firm said.
According to Netflix’s newly launched report on its impact in South Africa, Nigeria and Kenya, it has created 12,000 jobs on the continent and intends to build on this success beyond just three countries.
“We have undertaken this report to reflect on Netflix’s social and economic impact in the key countries,” Shola Sanni says.
“We are still in many ways at the inception stages of our investment journey, so it’s doubly exciting to know that we are poised to deliver even greater impact if we maintain our current momentum – and if the right circumstances for investments in our sector continue to prevail.”
She pointed to African productions like Silverton Siege (South African), Aníkúlápó (Nigerian) and Disconnect: The Wedding Planner (Kenyan) as all having at one point made it into Netflix Global Top 10 lists.
However to keep telling African stories on a global stage, Netflix needed to have the support of “governments, civil society, private sector and industry” to allow the create industries to thrive, Ms Sanni said.
“Enabling policy frameworks, flexible regulatory mandates and ease of doing business are inextricably bound to the continued growth of the audio-visual sector and streaming services.”
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