Netflix, the global streaming giant, has reportedly withdrawn from Nigeria eight years after its launch in 2016. While this significant move has been kept low-key, key Nollywood stakeholders were aware of the development.
According to Nollywood Wire, Netflix ceased operations in Nigeria in November 2024, halting its financial support for the production of local content. The platform also reportedly informed its frequent collaborators about the decision to scale back on acquiring Nigerian content. However, Netflix has yet to issue an official statement explaining its exit.
This shift marks a considerable change, as Netflix had been instrumental in showcasing Nigerian films, such as Kunle Afolayan’s Anikulapo, which gained international recognition.
Kunle Afolayan Confirms Netflix’s Departure
Speaking at the 2024 Zuma Film Festival, veteran filmmaker Kunle Afolayan confirmed that Netflix had stopped commissioning new Nigerian originals. He revealed that while his series Anikulapo had secured a third season before the exit, many other Nollywood projects in development were abruptly canceled.
Afolayan described Netflix’s departure as a significant setback for Nollywood but also emphasized it as a wake-up call for the industry to seek alternative avenues for growth and sustainability.
Impact on Nollywood
The exit of Netflix is seen as a blow to the industry, which had benefitted from the streaming platform’s investment in local productions. The move underscores the need for Nollywood to adapt and diversify its sources of funding and distribution to maintain momentum in the global film landscape.