Film Production Company Videovision Entertainment Details Its R7.5 Billion Investment In Durban Film Studios
Film Production Company Videovision Entertainment Details Its R7.5 Billion Investment In Durban Film Studios. Videovision Entertainment and their partners made a significant investment commitment at the 4th South Africa Investment Conference hosted by President Ramaphosa in Johannesburg, announcing an investment of R7.5 billion for the development of film and television studios and related sectors in Durban.
During the panel discussion, the CEO of Videovision Entertainment, Anant Singh spoke about the creative industries sharing content in Africa. He used the example of the iconic film, ‘Sarafina!’ which he produced and how he was able to have it distributed in other African countries, and drew a parallel to distribution platforms today. Whilst acknowledging the role streaming services are playing in content distribution, he also warned that content creators should be wary about giving away their Intellectual Property to these organisations which could retain ownership and control, without any future benefit for creators. In his concluding remarks, Singh said, “We have amazing people on this continent. People do amazing things, but we do not celebrate that enough. Potential needs to be harnessed, supported and celebrated.”
President Ramaphosa presented Singh and Videovision Entertainment with an award for developing Cape Town Film Studios which has been the catalyst over the past 12 years for the Western Cape to benefit from the significant multiplier offered by the film industry. These studios have enabled the generation of an estimated R7 billion per year in economic activity, with more than R100 billion being accrued to this region since the studios opened.
Videovision Entertainment is among the leading independent film distributors in South Africa, acquiring more than 3 500 international films for distribution in the country over the last 25 years. Videovision Entertainment has produced more than 80 feature films over the past 30 years in South Africa, the United States, United Kingdom, Canada and Hong Kong.
