We Are Not Exiting Nigeria, Netflix Clarifies
Three publications have reported that Netflix is leaving the Nigerian market, but the multinational streaming behemoth has categorically denied these rumors and stated that it will keep funding Nigerian content.
Nigerian filmmaker Kunle Afolayan’s remarks during the 2024 Zuma International Film Festival stoked the rumors. According to Afolayan, Netflix canceled a number of movies it had previously ordered from unidentified producers.
“Three years ago, when we signed the three-film deal with Netflix, it was really exciting,” Afolayan said. The filmmaker went on to share that despite the stellar performance of those movies globally, Netflix seemed unimpressed by their returns in Nigeria.
“Thank God we had shot seasons two and three [of Anikulapo] because all the other people that were commissioned with us at the same time were canceled.”
Afolayan did not specifically say that Netflix was leaving the Nigerian market, but his comments will undoubtedly fuel rumors that the streaming service is pulling out of the nation. Amazon Prime, another well-known streaming service, left Nigeria in January 2024, a year after launching a massive marketing campaign and a slate of original Nigerian productions, so this rumor is not wholly unfounded.
In a statement on Wednesday, a Netflix spokesperson reaffirmed the company’s commitment to Nigeria, saying, “We are not exiting Nigeria. We will continue to invest in Nigerian stories to delight our audience.”
The spokesman did not respond to Afolayan’s allegations of cancelled projects right away. However, the discussion on Wednesday and the responses on social media show that there is increasing skepticism regarding Netflix’s long-term strategy in Nigeria, where consumer spending power has been strained by rising inflation and currency devaluation.
The more reasonably priced Showmax service, run by Multichoice, dominates Nigeria’s competitive streaming market, which Netflix has found difficult to take a sizable chunk of. Many Nigerians still consider Netflix, which costs ₦7,000 ($4) a month, to be a luxury, particularly as inflation and naira devaluation reduce their purchasing power.
Netflix may find it more difficult to hold onto its position in the area if local competitors continue to offer better prices.
When Netflix started licensing well-known local films in 2016, their relationship began.
More than 250 locally licensed films, co-productions, and original commissions have benefited from the more than $23 million it has invested in Nigeria’s film industry since 2016. Among its most recognizable titles are King of Boys, The Wedding Party 2, and Lionheart. The streaming service inked multi-title agreements with well-known Nigerian producers, such as EbonyLife Productions, led by Mo Abudu, in 2020. By agreeing to a deal for three movies in 2021, including an adaptation of Sefi Atta’s Swallow, it deepened its collaboration with Kunle Afolayan.
