PIJAlance, relying on the statement of Nigerian filmmaker Kunle Afolayan during the 2024 Zuma International Film Festival, had earlier reported that Netflix is planning to exit Nigeria. Despite this, the global streaming service has categorically denied these assertions, affirming its ongoing commitment to investing in Nigerian content.
Afolayan indicated that Netflix had cancelled several films that had previously been commissioned from unnamed filmmakers.
A report by TechCabal recounted that Afolayan noted, “Three years ago when we signed the three-film deal with Netflix, it was exciting.” He elaborated that, despite the strong global performance of these films, Netflix appeared dissatisfied with their returns in the Nigerian market. He further remarked, “Thank God we had shot seasons two and three [of Anikulapo] because all the other projects commissioned with us at that time were canceled.”
Although Afolayan did not explicitly assert that Netflix is withdrawing from the Nigerian market, his comments are likely to ignite further speculation cancelling the streaming platform’s strategy. This speculation carries some validity, particularly in light of Amazon Prime’s recent exit from Nigeria in January 2024, which followed an extensive marketing campaign and the launch of original Nigerian productions.
In a statement provided to TechCabal on Wednesday, a Netflix spokesperson reiterated the company’s dedication to Nigeria, stating, “We are not exiting Nigeria. We will continue to invest in Nigerian stories to delight our audience.” The spokesperson did not specifically address Afolayan’s claims regarding cancelled projects. Nevertheless, the discourse and responses on social media underscore a growing uncertainty surrounding Netflix’s long-term strategy in Nigeria, particularly as rising inflation and currency devaluation are exerting pressure on consumer purchasing power.
Netflix has encountered challenges in capturing a significant share of Nigeria’s competitive streaming landscape, which is primarily dominated by the more affordable Showmax service, operated by Multichoice. Currently priced at ₦7,000 ($4) per month, Netflix remains a luxury for a considerable number of Nigerians, especially as inflation and naira devaluation continue to erode consumer spending capacity.
With local competitors consistently outperforming in terms of pricing, Netflix may face increasing difficulties in sustaining its market position in the region.
Since its initial engagement with Nigeria in 2016, when it began licensing high-profile local films, Netflix has invested over $23 million in the Nigerian film industry. This investment has supported more than 250 locally licensed titles, co-productions, and original commissions. Notable titles from its portfolio include “Lionheart,” “The Wedding Party 2,” and “King of Boys.” Furthermore, in 2020, Netflix entered into multi-title agreements with prominent Nigerian producers such as Mo Abudu’s EbonyLife Productions. In 2021, it expanded its partnership with Kunle Afolayan by signing a deal for three films, which includes an adaptation of Sefi Atta’s “Swallow.”
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