Netflix Denies Exiting Nigerian Market Amid Speculation

Contrary to speculation fueled by comments from Nigerian filmmaker Kunle Afolayan, Netflix has firmly denied exiting the Nigerian market.

In a statement, 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.”

Afolayan’s comments at the 2024 Zuma International Film Festival had sparked speculation about Netflix’s long-term strategy in Nigeria.

He claimed that Netflix had canceled several films it had previously commissioned from unnamed filmmakers, despite the stellar performance of his own movies globally.

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However, Netflix’s denial has put to rest fears about the company’s exit from the Nigerian market.

The streaming giant has struggled to capture a large share of Nigeria’s competitive streaming market, which is dominated by the more affordable Showmax.

Despite the challenges, Netflix has invested heavily in Nigerian content, pouring over $23 million into the film industry since 2016.

The company has backed over 250 locally licensed titles, co-productions, and original commissions, including notable titles like Lionheart, The Wedding Party 2, and King of Boys.