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HomeWealthNetflix Pumps KSh 33 Million To Kenyan Film Industry

Netflix Pumps KSh 33 Million To Kenyan Film Industry

American subscription streaming platform, Netflix is set to produce three Kenyan films as part of its program to invest in local content.

The KSh 33 million find will also facilitate training of actors.

According to Business Daily, the three movies are in different stages of production and Netflix is currently reviewing their licensed tittles.

The tittles will be released to the public days to their premiere dates on the streaming platform.

The projects are part of a memorandum of understanding signed between Netflix and the Ministry of Information and Communications Technology (ICT).

“Netflix is excited by the potential of Kenya’s next generation of creative storytellers

“We believe there are great stories in Kenya and we want to do our part for Kenya’s creative community by supporting the development of the local film and TV industry and talent pipelines, both in front of and behind the camera, through partnership initiatives,’’ said Netflix’s Director of Series in Africa, Dorothy Ghettuba.

Netflix will also sponsor Kenyans for film and TV-focused courses in local colleges and universities abroad.

In September 2021, the company launched a free mobile plan in Kenya in a bid to tap the East African nation that is home to over 20 million internet users.

The free plan doesn’t require users to provide any payment information during the sign-up.

At the same time, the streaming platform said it lost 200,000 subscribers in its first quarter, falling well short of its forecast of adding 2.5 million subscribers.

The company said inflation, the war in Ukraine and fierce competition contributed to a loss of subscribers for the first time in more than a decade.

Suspending service in Russia after the Ukraine invasion took a toll, resulting in the loss of 700,000 members.