Netflix has denied reports suggesting it is exiting the Nigerian market, reaffirming its commitment to investing in local content.
The speculation arose after comments made by prominent Nigerian filmmaker Kunle Afolayan during the 2024 Zuma International Film Festival.
Afolayan disclosed that Netflix had cancelled several films commissioned from unnamed filmmakers, sparking concerns about the platform’s long-term strategy in Nigeria. “Three years ago, when we signed the three-film deal with Netflix, it was really exciting,” Afolayan said.
He added that despite the global success of those projects, Netflix appeared dissatisfied with their performance 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 cancelled,” he said.
However, Afolayan stopped short of directly stating that Netflix is exiting the country.
The remarks have fueled speculation, particularly given the recent exit of Amazon Prime from Nigeria in January 2024. Amazon withdrew from the market after just one year, despite an ambitious marketing campaign and a slate of Nigerian productions.
In a statement to TechCabal on Wednesday, a Netflix spokesperson dispelled the rumours, stating, “We are not exiting Nigeria. We will continue to invest in Nigerian stories to delight our audience.”
The speculation highlights growing uncertainty about Netflix’s operations in Nigeria, where economic challenges such as rising inflation and currency devaluation are reducing consumer spending power. With a subscription fee of ₦7,000 ($4) per month, Netflix is considered a luxury for many Nigerians, allowing more affordable competitors like Showmax to dominate the market.
Netflix’s entry into Nigeria dates back to 2016 when it began licensing high-profile local films. Since then, it has invested over $23 million in the Nigerian film industry, supporting more than 250 local titles, co-productions, and original productions.
Its catalogue includes critically acclaimed hits such as “Lionheart,” “The Wedding Party 2”, and “King of Boys.” The streaming giant has also partnered with leading Nigerian producers, including Mo Abudu’s EbonyLife Productions and Kunle Afolayan, who signed a multi-film deal in 2021.
Despite these efforts, Netflix faces an uphill battle to maintain its presence in Nigeria’s competitive streaming market. As economic pressures mount and local players strengthen their position with more affordable options, the platform’s long-term success in the region remains uncertain.
