23 February, 2016 - 07:58
South Africas growing TV and film industry is adding to employment and the GDP. There is broad consensus the industry could grow phenomenally over the next few years.
South Africas film industry grows, supported by specialist underwriting the Deloitte baseline study conducted in 2012 shows that the industry delivered an economic multiplier of 2.89, ie for every Rand spent another R1.89 was generated within the economy. The City of Cape Town, a metropolis for local and foreign film makers, estimates that film and television production added R5bn and 35,000 new jobs to the province over the three years ending 2014.
Film audiences, who find themselves lost in the magic of the finished product, have little idea of the blood, sweat and tears that goes into creating a 30-minute documentary, let alone a two-hour-long feature film. Aside from finalising the script, auditioning and contracting with actors and securing locations, the average production team must secure enough financing to deliver a finished product. Insurers provide invaluable assistance in getting the job done, says Paul Raleigh, head of Hollard Film Guarantors, a specialist underwriter focused on the entertainment sector.
International film producers are coming to South Africa to take advantage of ideal filming locations, breath-taking scenery, world-class film crews and the favourable exchange rate, among other pluses. As more crews arrive to shoot commercials, television shows and feature films, they create an environment that encourages local talent to get in on the act.
Government departments such as Home Affairs and the dti are making it easier for foreign investors to make movies in South Africa. Home Affairs has relaxed certain of its visa requirements to assist production houses in securing the necessary paperwork for foreign staff, while the dti has offered a range of rebates and incentives to foreign productions shot on location in South Africa, films that are also post-produced locally and local filmmakers alike. However, there needs to be a public/private partnership that will help alleviate some of the administration and financial challenges faced by the department. Hollard is working with the government to assist in restoring confidence in what was an excellent administration.
There is broad consensus the local film industry can grow exponentially over the next few years. In 2013, it produced 25 films for theatre release, generating 11% of the industry-wide box-office take, or R98m of R879m. In the six months to end-June 2014, a dozen local films accounted for R33m of the R382m box office gross for the period.
The company has a deep passion and understanding of the creative economy. This passion started with our founders and the belief that art, in all its wonderful and varied forms, is a meaningful avenue for positive and enduring change in society, explains Heidi Brauer, chief marketing officer at Hollard. Our involvement in this sector extends beyond sponsorship and CSI initiatives. We are in the business of insuring the creative sector and have specialist expertise.
The division insures movie investors against non-delivery of South African feature films or co-productions with international production houses. It makes sure that films, television series and documentaries are completed and delivered on time and within budget, without calling on the investors to provide additional funding. In addition, it assists producers in managing their cash flows against secured funding.
In the worst case, film guarantors will provide finishing funding, in the event the film runs into budget problems, but for the most part the outfit's prevention-is-better-than-cure' approach ensures that potential problems are swiftly remedied. The production process, from script to screen, is managed to reduce both the chance and quantum of claims, says Raleigh.
This insurance differs significantly from typical customer insurance in that it protects investors against process risks rather than loss due to accident or damage. Cover for sets, props, wardrobe, equipment, illness of nominated crew or cast is covered under the producer's indemnity insurance that must be taken out with an insurer that specialises in this type of business.
Hollard has been a main sponsor of the Jozi Film Festival for more than three years. It is also the headline sponsor of the Annual Business Day BASA awards, which celebrates the partnership between Business and the Arts, awarding companies that have made the biggest contribution towards the development of the South African art environment.
The Film Guarantee division sponsors the Production Merit Award and the Durban International Film Festival.
www.bizcommunity.com
Film Finance
Africa South Africa
Most recent headlines
09/11/2025
Dalet today announced a transformative leap forward for media operations: Agentic Artificial Intelligence (AI) that unifies the Dalet ecosystem under one natura...
23/10/2025
A deadline is looming for a new carriage deal between Verizon's Fios TV and Nexstar, with both Verizon and the pay TV-backed American Television Alliance bl...
23/10/2025
NEW YORK During a high-profile session at NAB Show New York, new survey data was shared that revealed significant public concern over artificial intelligence (A...
23/10/2025
BELLEVUE, Wash. and NEW YORK Fox Weather has tapped T-Mobile has as its preferred communications provider and announced that all Fox Weather reporters are being...
23/10/2025
PBS and Amazon Web Services have announced the network is using generative AI to provide enhanced search results to viewers on the PBS App and PBS LearningMedia...
22/10/2025
Prime Video Inks Deal To Present NFL Black Friday Game Worldwide By SVG Staff
Wednesday, October 22, 2025 - 10:06 am
Print This Story | Subscribe
Story ...
22/10/2025
NBA Tip-Off: ESPN Goes 1080p HDR End-to-End, Flipping HDR Switch on REMI and REM...
22/10/2025
FloSports Empowers Division II, III Athletic Departments With Turnkey Production...
22/10/2025
Wall Street Video Summit Debuts, Bringing Together 200 Financial Enterprise Vide...
22/10/2025
Dueling Pianos: International Chopin Piano Competition Is as Competitive as a Ba...
22/10/2025
In 1995, a young Colombian artist released an album that would change Latin pop ...
22/10/2025
Over the past few months, a photovoltaic system has been installed on a three-he...
22/10/2025
The Orion spacecraft for NASA's Artemis II mission is stacked on the Space Launch System (SLS) rocket in High Bay 3 of the Vehicle Assembly Building at Kenn...
22/10/2025
L3Harris' Hybrid SATCOM is resilient by design, offering path diversity that eliminates vulnerabilities by routing data across the best available networks i...
22/10/2025
WASHINGTON, D.C. Organizers of NAB Show New York said they are expecting more than 12,000 registered attendees from about 100 countries along with 260 exhibitor...
22/10/2025
WASHINGTON, D.C The organizers of The 2025 NAB Show New York have announced that they are expecting more than 12,000 registered attendees from about 100 countr...
22/10/2025
Masque Sound, a leading theatrical sound reinforcement, installation and design company, supplied an extensive gear package of professional-grade equipment for ...
22/10/2025
Lightware, a global leader in signal management and AV connectivity solutions, is seeing strong market momentum for the UCX-3x3-TPX-RX20, a compact transmitter-...
22/10/2025
MELVILLE, N.Y. Chyron has released PAINT 10.2, the latest update for its telestration platform, adding support for SMPTE ST 2110 IP workflows, expanding brandin...
22/10/2025
WASHINGTON Run3TV today said NBCUniversal is joining as an investor in the ATSC 3.0 Framework Authority, which develops the Run3TV NextGen TV application platfo...
22/10/2025
ATLANTA swXtch.io will feature two new networking solutions extending the company's reach across more cloud and on-prem workflows at NAB Show New York, set ...
22/10/2025
The Warner Bros. Discoverys HBO Max streaming services has increased prices for all its streaming tiers effectively immediately for new customers. Existing cust...
22/10/2025
LOS ANGELES OpenDrives has signed a new distribution partnership deal with Versatile Distribution Services (VDS) to strengthen its channel and streamline how it...
22/10/2025
WASHINGTON, D.C The organizers of The 2025 NAB Show New York have announced that they are expecting more than 12,000 registered attendees from about 100 countr...
22/10/2025
Samora Pinderhughes Brings Immersive Sound to Berklee's Signature Series The artist and composer, who's worked with Herbie Hancock, Robert Glasper, Co...
22/10/2025
BMI Day at Berklee Celebrates Composer Fil Eisler and Awards Scholarship to Stud...
22/10/2025
October 22nd, 2025 TRIBECA ANNOUNCES STAR-STUDDED LINEUP OF MEMBERSHIP EVENTS F...
22/10/2025
Rohde & Schwarz and TRUMPF cooperate in drone defense Rohde & Schwarz and TRUMPF partner to deliver a comprehensive drone defense solution combining Rohde & S...
22/10/2025
European Broadcaster Upgrades To Grass Valley's NativeIP LDX 135 Cameras And...
22/10/2025
Everyone Gets a Better Deal on Verizon with New FOX One Perk The $15 FOX One streaming service perk is yet another way Verizon continues to add savings for cu...
22/10/2025
First Look Hidden Assets Series 3
Premieres on 9th November 9:30pm on RT One & RT Player
WATCH HERE Promo Link: Hidden Assets Series 3 | RT
The Crimin...
21/10/2025
NAB New York 2025: Although AES Show Is on Its Own, Audio Will Be a Major Part o...
21/10/2025
NAB New York 2025: Business of Broadcast and Media,' Future of Content'...
21/10/2025
SVG All-Stars: Ethan Folz, Senior Director, Digital Operations and Quality of Ex...
21/10/2025
NBA on NBC/Peacock: Livestream Offers Graphic Overlays, Predictive Gaming, Ancil...
21/10/2025
NBA on NBC/Peacock: At the Front Bench With Producer Frank DiGraci and Director ...
21/10/2025
NBA on NBC/Peacock: NBC Sports, NEP Build Ultra-Flexible Production Plan That Se...
21/10/2025
Indigenous storytelling has been at the heart of the work of the Sundance Instit...
21/10/2025
Top L-R: Mysterious Skin, American Dream Second Row L-R: Little Miss Sunshine, D...
21/10/2025
Last week, Spotify and Columbia Records transformed Pier 4 at the Brooklyn Army ...
21/10/2025
SBS Learn's Dharug Ngurra resource empowers classrooms to meaningfully celeb...
21/10/2025
As global operators simplify and evolve their digital platforms, NPS improvement...
21/10/2025
Critical Design Review completion is a key milestone on the path toward Wideband Global Satellite Communications certification for the network in 2026, opening ...
21/10/2025
New Australian undersea training range to implement and improve warfighting tactics, proficiency and safety; enable joint/allied training that contributes to pr...
21/10/2025
eds3_5_jq(document).ready(function($) { $(#eds_sliderM519).chameleonSlider_2_1({...
21/10/2025
September, the beginning of autumn, brought an expected revival to the TV market, largely due to the new fall TV schedules. The time spent in front of the TV sc...
21/10/2025
Broadcast Booms with 20% Uptick vs. August, Achieving Largest Monthly
Increase ...
21/10/2025
During September, streaming's share of TV viewing in Mexico settled at 24.5%, a marginal shift of -0.5 share points from the previous month.
Disclaimer: YU...
21/10/2025
RENNES, France BBright and GlobalM have conducted a technical trial validating Ultra HD interoperability across the entire contribution chain in the cloud, achi...
23 February, 2016 - 07:58
