In a recent statement, Netflix has firmly denied rumours suggesting that it plans to exit the Nigerian market. This clarification comes in response to widespread speculation fuelled by comments from Nollywood filmmaker Kunle Afolayan, who indicated that Netflix had cancelled several commissioned projects, raising concerns about the streaming giant’s future in Nigeria.
Background of the Rumours
The rumours began circulating after Afolayan, speaking at the 2024 Zuma Film Festival, expressed disappointment over Netflix’s apparent dissatisfaction with the local returns on its investments in Nigerian films. He revealed that while his own projects were spared from cancellation, many of his colleagues faced setbacks due to funding cuts. This revelation ignited fears among fans and industry stakeholders about Netflix’s commitment to the Nigerian creative sector.
Official Response from Netflix
In response to these concerns, Edafe Onoriode, Group Account Director at Hill and Knowlton Strategies—Netflix’s public relations agency—emphasised that the company is not exiting Nigeria. “We are not exiting Nigeria. We will continue to invest in Nigerian stories to delight our members,” Onoriode stated. This reassurance highlights Netflix’s ongoing commitment to enhancing its presence in Nigeria and supporting local filmmakers.
Since its entry into the Nigerian market in 2016, Netflix has established a significant partnership with Nollywood, producing original content and acquiring distribution rights for popular films. The streaming platform has invested approximately $23 million and licensed over 283 Nollywood titles during this period.
Commitment to Nigerian Stories
Netflix’s dedication to showcasing Nigerian narratives is evident in its production of acclaimed titles such as Lionheart, Blood Sisters, and Aníkúlápó. These projects have not only gained popularity within Nigeria but have also attracted international attention, helping to elevate the country’s storytelling prowess on a global stage.
Despite the challenges posed by Nigeria’s economic landscape—where Netflix accounts for only 10.5% of its African subscriber base compared to South Africa’s 73.3%—the company remains optimistic about its growth potential in the region. The streaming giant aims to deepen its connection with local audiences and continue producing compelling content that resonates with viewers.
As Netflix reassures its subscribers and stakeholders of its commitment to Nigeria, the company is poised to navigate the complexities of the local market while fostering creativity within the film industry. The recent rumours may have caused concern, but with a clear focus on investing in Nigerian stories, Netflix is set to play a crucial role in shaping the future of Nollywood and providing audiences with engaging content that reflects their culture and experiences.
By Joseph Johnston,
Youth Editor,
Egogonews Hub
