#SHSI Episode 30 - DEEP DIVE: SOUTH AFRICA'S R7.18 BILLION FILM & TV INDUSTRY!
Description
Beyond the stunning landscapes and vibrant culture, there's a powerful force quietly shaping South Africa's economy, one that shapes our narratives and is starting to tell our stories to the world. The South African film and television industry contributes significantly to the country's economy, more than some might be aware of. In fact, I tend to not see the industry in isolation but as a part of film, with the most recent survey by the National Film and Video Foundation estimating a contribution of around R3.5 billion annually. The sector also employs over 25,000 people. The industry is projected to see continued growth, with the TV & Video market expected to reach US$3.90 billion in 2025. The film industry's direct contribution alone is estimated at R3.86 billion, with an additional R3.31 billion generated through indirect and induced impacts, according to the National Film and Video Foundation. This results in a total economic contribution of R7.18 billion. Cape Town has become a major filming hub, with their Film Permits Office issuing 3,900 permits in a single year. KZN has also gotten in on the action, having hosted the now critically acclaimed Shaka iLembe season 1, which had an undisclosed budget of R400m just for the first season. Shaka iLembe Production impactJust the retelling of the Shaka story amassed a reported staggering R5 billion in global revenue. Not a bad investment.
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