Asides from the local films, it also plans to produce 29 local dramas within the next 12 months.
Multichoice said its Showmax and DStv Now user numbers has doubled the past financial year, so those services combined are now considerably bigger than Netflix in South Africa.
DStv Now and Showmax are free services offered to all top-tier DStv subscribers, while Netflix requires paid subscriptions.
“Our growth is exceptionally pleasing, especially in the current economic climate, and a clear indication that our strategy is working,” Calvo Mawela, MultiChoice CEO, said.
According to Business Insider, Multichoice said Showmax will likely increase its sports offering in an apparent attempt to differentiate it from Netflix.
Overall, Multichoice, which listed separately from its parent company Naspers in February, posted a profit of R7 billion on revenue of R50.1 billion.
In South Africa, it saw subscriber growth of 8%, or 500,000, to 7.4 million. Premier subscribers, however, declined by 7%, or 100,000, to 1.5 million.