The Co-production Review 1997-2009 report released by the National Film and Video Foundation(NFVF) reveals that the first 12 years of official co-production activity have proved to be a relative success.

The report indicates that the level of growth has been an astounding one, with an annualized growth rate of 40.87% per annum and an average production rate of just under 5 projects a year.

The report is an analysis of the co-production projects that have been completed since 1997 until December 2009. It looks at the following indicators: production budgets, frequency of and the level of collaboration between SA producers and co-producing partners, number and value of projects made per format.

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Since 1997, South Africa has entered into four co-production agreements with Italy, Germany, Canada and the United Kingdom. Of all the four co-production treaties South Africa has signed since 1997, the SA/Canada treaty has demonstrated to be the most financially liquid. Until the end of 2009 a total of 49 co-production projects were completed totalling R2.7 billion.

South Africa has contributed 40.9% of this budget while the remaining 59.1% was sourced from the participating countries. Snapshots of the report: more than R21.6 million has been disbursed for the South African cast, extras talent, over R42.6 million was spent on wages of the principal crew and creatives, a further R66.3 million was spent on travel and living, transportation and shooting location while and excess of R10.5 million was spent on the South African wardrobe and make-up and hair.

The Industrial Development Corporation (IDC) has been the major source of funding from South Africa with a contribution of 38% followed by private funders with a contributing 33% towards the budgets.