Global video streaming giant Netflix has dismissed circulating reports suggesting it plans to exit Nigeria, affirming its dedication to the country’s vibrant creative sector.
In a statement issued to The PUNCH on Wednesday, Edafe Onoriode, Group Account Director at Netflix’s PR agency Hill and Knowlton Strategies, clarified the company’s position:
“We are not exiting Nigeria. We will continue to invest in Nigerian stories to delight our members,” a Netflix spokesperson confirmed.
The rumors gained traction following comments by renowned filmmaker Kunle Afolayan in a viral video, where he revealed Netflix had allegedly canceled several commissioned projects. Afolayan expressed concerns about the platform’s dissatisfaction with local returns despite the global success of some films.
“Three years ago, when we signed a three-film deal with Netflix, it was very exciting,” Afolayan said, adding that other commissioned projects had reportedly been scrapped.
Since entering the Nigerian market in 2016, Netflix has forged strong ties with Nollywood, acquiring distribution rights for popular films and producing original content such as Genevieve Nnaji’s Lionheart, the first Nigerian Netflix original.
According to a 2023 report by research firm Omdia, Nigeria contributes just 10.5% to Netflix’s African subscriber base, with South Africa accounting for a dominant 73.3%. Despite this, Netflix remains optimistic about growth, with the African subscriber base projected to rise from 1.6 million to 2.2 million in the next five years.
Netflix’s reassurance underscores its ongoing investment in Nigerian storytelling, aiming to strengthen its foothold in Africa’s creative landscape.
