Netflix has denied reports from three publications suggesting it plans to exit the Nigerian market. The global streaming giant insists it will continue investing in Nigerian stories and content.
Speculation arose following comments by acclaimed Nigerian filmmaker Kunle Afolayan at the 2024 Zuma International Film Festival. Afolayan alleged that Netflix had canceled several films it previously commissioned from unnamed filmmakers.
“Three years ago, when we signed the three-film deal with Netflix, it was really exciting,” Afolayan shared. Despite the global success of his movies, Netflix reportedly appeared unimpressed by their financial 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 said.
While Afolayan stopped short of confirming Netflix’s withdrawal from Nigeria, his remarks have fueled speculation about a potential retreat. The speculation is not without precedent—Amazon Prime exited Nigeria in January 2024, just one year after launching original Nigerian productions and a high-profile marketing campaign.
In response to the rumors, Netflix told TechCabal on Wednesday:
“We are not exiting Nigeria. We will continue to invest in Nigerian stories to delight our audience.”
The spokesperson did not address Afolayan’s claims regarding canceled projects. However, the situation, alongside social media reactions, reflects growing uncertainty about Netflix’s long-term strategy in Nigeria. Rising inflation and currency devaluation have weakened consumer spending, presenting challenges in a competitive streaming market.
Netflix has struggled to gain a substantial foothold in Nigeria’s streaming landscape, where Showmax, operated by Multichoice, dominates due to its affordability. Priced at ₦7,000 ($4) per month, Netflix remains a luxury for many Nigerians grappling with economic pressures.
Despite these challenges, Netflix has a notable history with Nigeria. Since licensing its first local films in 2016, the platform has invested over $23 million in Nigeria’s film industry, supporting over 250 titles, including Lionheart, The Wedding Party 2, and King of Boys. In 2020, it signed multi-title deals with Nigerian producers like Mo Abudu’s EbonyLife Productions and expanded its partnership with Kunle Afolayan in 2021 for projects such as the adaptation of Sefi Atta’s Swallow.
While uncertainty looms, Netflix’s reaffirmation of its commitment signals a continued interest in showcasing Nigerian stories on its global platform.