Netflix is assisting in the production of three Kenyan movies and will also spend Sh33 million to train actors, as part of its investment in local content creation.
The three movies are in different stages of production with their licensed local titles being reviewed by Netflix which has disclosed that Kenyan titles will be revealed when their premier dates approach.
The streaming platform which boasts of over 222 million subscribers and covering 190 countries will fund Kenyans for film and TV-focused courses in local colleges and universities abroad through a Sh33 million fund ($300,000).
The gesture is part of a memorandum of understanding signed between Netflix and the ICT ministry to improve skill capacity and support the local film industry.
It has been involved in initiatives that aim to expand its content and add customers through new subscriber signups outside places where streaming demand is flattening like US.
“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, Dorothy Ghettuba.
Ghettuba who is Netflix’s Director of Series in Africa also added that the investment in local content and creatives is part of the company’s approach to expand its customer base.
Netflix lost 200,000 subscribers between January and March due to stiff competition from Disney, Apple TV and HBO Max. There was also suppression on password sharing and Russia-Ukraine wars.
“We welcome this partnership with Netflix because Kenya has many stories to tell the world and all the initiatives with the various partners will help us ensure we have the ability to create quality stories,” said ICT Secretary Mr Joe Mucheru.
The move comes when the company has been hit with a shareholder lawsuit in a U.S. court in California where it is accused of misleading the market about its ability to keep adding subscribers in recent months.
The case filed in San Francisco federal court on Tuesday is seeking compensation for declines in Netflix’s share price this year after it failed to hit its subscriber growth estimates.
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