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Netflix Re-affirms Commitment to Nigerian Market, Denies Exit Report

December 6, 2024
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Netflix re-commits to Nigerian market

American subscription video on-demand over-the-top streaming service company, Netflix, has thrashed a report that it has concluded plans to exit Nigeria due to sky- rocketing inflation in the country.

“We are not exiting Nigeria,” wrote a Netflix spokesperson in an email.”We will continue to invest in Nigerian stories to delight our members.”

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Netflix signalled its Nigeria ambitions with the acquisition of Lionheart, a film produced in 2018 by industry veteran, Genevieve Nnaji, as its first original in the country. The streamer has since commissioned and co-produced multiple original series and films afterwards.

The entrants of the streaming giants into the Nigeria film cum movie industry has provided ample opportunity for Nigerian producers and film makers to bring to reality stories that would have died at imagination levels.

To state that Netflix has become a major player in the Nigerian entertainment industry is to put it mildly, as several productions like Blood Sisters, Anikulapo, and Shanty Town have showcased the country’s storytelling prowess to an international audience.

The assurances given by Netflix to continue the romance with Nigerian producers and artists is an indication that productions still in the pipeline and their producers have received lifeline again to continue from where they stopped while fans gear up to new films.

READ ALSO: Kunle Afolayan Laments Netflix Exit, Confirms Project Cancellation

Despite assurance of re-commitment, Primebusiness.africa however gathered that the company’s resolve to cut down production is still intact. The company we understand will still be committed but will be  “picking and choosing local content investment or titles they want to keep licensing in Nigeria.” Netflix is said to have over 247 million paid subscribers in over 190 countries, thus making it one of the biggest avenues of showcasing beautiful story lines to millions of viewers across the globe.

Netflix’s relationship with Nigeria dates back to 2016 when it began licensing high-profile local films. Since 2016, it has pumped in estimated $23 million into Nigeria’s film industry, backing over 250 locally licensed titles, co-productions, and original commissions.

Lionheart, The Wedding Party 2, and King of Boys are some of its most recognisable titles. In 2020, the streaming service signed multi-title deals with prominent Nigerian producers like Mo Abudu’s EbonyLife Productions. In 2021, it expanded its partnership with Kunle Afolayan, signing a deal for three films, including an adaptation of Sefi Atta’s Swallow and Anikulapo.

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Julius Okorie is Chief Sports and Entertainment Correspondent for Prime Business Africa. He began his journalism career with the Champion Newspaper and Sporting Champion and later moved on to Daily Independent and the Nation Newspapers. Okorie joined Prime Business Africa in 2024 bringing on board 20 years of experience in writing investigative news on Sports and Entertainment. His well researched and highly informative articles on Sports Business and general entertainment are followed by a wide range of audience.

Julius Okorie

Julius Okorie is Chief Sports and Entertainment Correspondent for Prime Business Africa. He began his journalism career with the Champion Newspaper and Sporting Champion and later moved on to Daily Independent and the Nation Newspapers. Okorie joined Prime Business Africa in 2024 bringing on board 20 years of experience in writing investigative news on Sports and Entertainment. His well researched and highly informative articles on Sports Business and general entertainment are followed by a wide range of audience.

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