Despite reports from three publications suggesting that Netflix is exiting the Nigerian market, the global streaming giant has firmly denied these claims. The company maintains its commitment to continue investing in Nigerian content, despite growing speculation fueled by recent comments from Nigerian filmmaker Kunle Afolayan.
Afolayan, speaking at the 2024 Zuma International Film Festival, suggested that Netflix had canceled several films it had commissioned from unnamed Nigerian filmmakers. He specifically referenced a three-film deal signed between his production company and Netflix three years ago. While Afolayan acknowledged the global success of the films, he claimed that Netflix appeared unimpressed with their performance in Nigeria, leading to the cancellation of other commissions.
“I’m thankful we shot seasons two and three of Anikulapo, as all the other projects commissioned with us were canceled,” Afolayan shared. Although he did not explicitly state that Netflix was exiting the Nigerian market, his remarks sparked further speculation about the streaming platform’s retreat from the country, especially considering the recent exit of Amazon Prime Video from Nigeria in January 2024.
However, in a statement to TechCabal, a Netflix spokesperson unequivocally denied the market exit rumors, stating, “We are not exiting Nigeria. We will continue to invest in Nigerian stories to delight our audience.” The spokesperson did not directly address Afolayan’s comments about canceled projects, but the growing uncertainty surrounding Netflix’s strategy in Nigeria is evident, especially as inflation and currency devaluation impact consumer spending power.
Netflix has faced increasing competition from local streaming services, notably Showmax, which dominates the Nigerian market with more affordable pricing. At ₦7,000 ($4) per month, Netflix remains a premium option for many Nigerians, especially as inflation and the devaluation of the naira continue to affect purchasing power. As local services continue to offer more competitive pricing, Netflix may face challenges maintaining its position in the region.
Netflix’s engagement with Nigeria dates back to 2016 when it began licensing Nigerian films, investing over $23 million in the industry since then. The platform has supported over 250 locally licensed titles, co-productions, and original commissions. Notable titles include Lionheart, The Wedding Party 2, and King of Boys. In recent years, Netflix has expanded its partnerships with prominent Nigerian producers, including Mo Abudu’s EbonyLife Productions and Kunle Afolayan, further deepening its investment in Nigerian content.
Despite the challenges, Netflix’s statement underscores its ongoing commitment to Nigeria, reaffirming that it will continue to be a key player in the country’s thriving film industry.