The direct contribution made by the film industry to the economy was estimated at R 4.4 billion in 2016/17, according to Urban Econ. The sector has recorded an average growth of 15% per year since 2013, reflecting its vibrancy and expanding investment opportunity set.
Co-production treaties continue to enhance South African collaboration with international production houses, exposing the local industry to global skills and standards. South Africa’s creative crew has globally competitive talents and expertise. The industry’s visual effects specialists and animators are fast gaining recognition and add to the more excellent value of local knowledge.
The local industry was also given a boost with the establishment of an R500 million film studio on just under 200ha of land in Cape Town. Along with private shareholders, The Cape Town Film Studios is supported by national, provincial, and local governments, enabling films to be made at a significantly reduced rate, attracting international filmmakers.
South Africa’s film industry has made inroads internationally. Still, development opportunities exist in pre-and post-production facilities and other support services (e.g., special effects, design, and the making of costumes, décor or film set, animation).
The industry receives significant public sector support, including government incentives (e.g. Foreign Film and Television Production and Post-Production Incentive, S.A. Film Production and Co-production Incentive), development and production funding from the National Film and Video Foundation and the Industrial Development Corporation.
Think South Africa, Think Opportunity.