Talent10 Holdings, a venture capital firm and the Industrial Development Corp (IDC) have recently pledged US$100 million towards developing new entertainment and gaming franchises in South Africa. The announcement was made during the premiere screening of “Boy Kills World,” a movie that was entirely funded, filmed and produced in South Africa.
Talent10 CEO Wayne Fitzjohn said that the decision to invest in the entertainment and gaming industries was based on their potential to create sustainable revenue streams while utilizing the strengths of local skills. This move follows Talent10’s successful venture into the technology space as a funder of IoT.nxt, an internet-of-things specialist firm sold to Vodacom Group in 2019.
Fitzjohn believes that this expansion into gaming and entertainment will take advantage of the projected growth in the industry, South Africa’s reputation as a choice filming destination, and the opportunity to develop intellectual property locally while exploiting larger international markets.
The goal is to build a universe that intertwines the film with gaming through a title called Super Dragon Punch Force, a fighting game created by Talent Digital Art, Talent10’s gaming subsidiary. Super Dragon Punch Force 3 was launched at the Cape Town Comicon event on 27 April. Talent10 believes South Africa offers “exceptional” value for money compared to US dollar-based production costs while maintaining high quality.
“South Africa is open to the international film industry. Boy Kills World is anticipated to perform well at the box office, which could significantly boost South Africa’s entertainment industry. A successful film release would attract further investment and attention to the country’s film production capabilities,” said Fitzjohn.
South Africans have a reputation for ideation, and Fitzjohn hopes to leverage this strength to create a larger IP space. He added that South Africa is already a popular destination for films, but unfortunately, none of the big stuff originates from the country, nor is it owned locally.
Anthony Silverston, creative director at Cape Town-based Triggerfish Animation, believes that South Africa has made a significant impact on the animation industry internationally. He added that people globally have great respect for the local industry and see the quality of work produced, which excites them.
