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Netflix earmarks US$1m as it looks to up subscriber numbers in Africa

By , Sub Saharan Africa Business, Tech, News and Development Journalist
Africa , 28 Jan 2022

Netflix has earmarked US$1-million to support African content providers via the Creative Equity Scholarship Fund (CESF) as it looks to bolster subscriber growth in the EMEA and Sub-Saharan Africa regions.

The CESF was established to provide content developers with access to quality tertiary education in film and TV-focused disciplines.

While total subscriber numbers for Netflix topped 222 million as at the end of December 2021, subscriber growth within the Europe, Middle East and Africa (EMEA) region slowed down, with 3.54 million additions compared to 4.46 million a year earlier.

Analysts are expecting subdued growth in new subscribers in Q1 2022.

According to Laura Hoy, equity analyst at Hargreaves Lansdown, Netflix does not “break out any of the Africa-specific data” as it is bundled together under its Europe, Middle East & Africa numbers.

“However, there’s no denying the importance of emerging markets in Africa as a driver for growth moving forward,” Hoy told ITWeb Africa, adding “… emerging markets such as Africa will be a key part of their strategy moving forward as Netflix looks to rope in new subscribers, engage them, and eventually push prices higher.”

Netflix has also been procuring content from African countries such as Tanzania and South Africa as it looks to attract subscribers.

Ben Amadasun, Netflix director of content for Africa, said: “There are great stories to be told from Africa and the company hence the company wants to play its part in supporting students who are passionate about the film and TV industry so they too, can ultimately contribute to the creative ecosystem.”

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