Netflix denies plans to leave Nigeria, promises to invest more in local stories

Global streaming platform, Netflix has denied plan to exit Nigeria, reiterating its commitment to the country’s burgeoning creative industry.

The news of Netflix leaving Nigeria went viral earlier today, Wednesday, December 4th, 2024, with multiple posts claiming the movie/series streaming giant was leaving the country after eight years of expanding its reach to Nigeria since 2016 and four years after launching ‘Netflix Naija,’ a way of announcing its full presence and dedication to the Nigerian market and Nollywood at large.

The speculation was fueled by comments from Nigerian filmmaker Kunle Afolayan, who spoke at the 2024 Zuma International Film Festival. Afolayan claimed Netflix canceled several films it had previously commissioned from unnamed filmmakers.

“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.”

However, a Netflix spokesperson reacting to the speculation 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.”

Netflix has established a significant partnership with Nollywood, enhancing its presence in Nigeria since 2016.

This collaboration began with the acquisition of distribution rights for popular films and culminated in the production of original content, such as Genevieve Nnaji’s Lionheart, the first Nigerian Netflix original.

Last year, London-based research firm Omdia revealed that Nigeria accounts for just 10.5 per cent of Netflix’s African subscriber base, while South Africa dominates with a commanding 73.3 per cent.

Across the continent, Netflix’s expansion has been measured, with the platform reporting 1.6 million subscribers in Africa after six years of operation. Looking ahead, subscriptions are expected to rise to 2.2 million in the next five years, the firm projected.