Despite reports from three publications suggesting that Netflix is exiting the Nigerian market, the global streaming giant has firmly denied these claims. Netflix insists it will continue to invest in Nigerian content. Speculation about Netflix’s plans intensified following comments from Nigerian filmmaker Kunle Afolayan, who spoke at the 2024 Zuma International Film Festival.
Afolayan mentioned that Netflix had canceled several films it had previously commissioned from unnamed filmmakers. “Three years ago, when we signed the three-film deal with Netflix, it was incredibly exciting,” Afolayan said. He further noted that although the movies performed exceptionally well globally, Netflix seemed unimpressed with their returns in Nigeria. “Thank goodness we had completed seasons two and three of Anikulapo, because all the other filmmakers commissioned with us at the same time had their projects canceled.”
However, Afolayan did not explicitly state that Netflix is exiting the Nigerian market, although his remarks naturally prompt speculation about a possible retreat. This speculation gained some credibility as Amazon Prime, another major streaming service, exited Nigeria in January 2024, just a year after launching a large marketing campaign and original Nigerian productions.
In a statement to reporters on Wednesday, a Netflix spokesperson 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.”
While the spokesperson did not directly address Afolayan’s claims about canceled projects, the ongoing discussions and social media reactions reflect growing uncertainty about Netflix’s long-term strategy in Nigeria. Rising inflation and currency devaluation have impacted consumer spending power, adding to concerns.
Netflix has struggled to capture a significant share of Nigeria’s competitive streaming market, which is dominated by the more affordable Showmax, operated by Multichoice. With Netflix currently priced at ₦7,000 ($4) per month, it remains a luxury for many Nigerians, especially as inflation and naira devaluation continue to erode purchasing power.
As local services continue to outperform in pricing, Netflix may face increasing challenges in maintaining its position in the region.
Netflix’s relationship with Nigeria began in 2016 when it started licensing high-profile local films. Since then, it has invested over $23 million in Nigeria’s film industry, supporting more than 250 locally licensed titles, co-productions, and original commissions. Notable titles include Lionheart, The Wedding Party 2, and King of Boys. In 2020, the streaming service signed multi-title deals with prominent Nigerian producers, such as Mo Abudu’s EbonyLife Productions, and in 2021, it expanded its partnership with Kunle Afolayan by signing a deal for three films, including an adaptation of Sefi Atta’s *Swallow*.