Nigerian comedian cum actor, Ayo Makun, better known as AY, has shared his thoughts on the recent controversy surrounding Netflix’s alleged halt in funding Nigerian original movies.
Naija News recalls that Nigerian filmmaker, Kunle Afolayan, recently revealed that Netflix has stopped commissioning Nigerian content, which sparked concerns about the streaming giant’s commitment to the Nigerian market.
However, in an interview with Nollywood on Radio, AY clarified that Netflix is not exiting the Nigerian market, revealing the struggles of the streaming platform.
The filmmaker said Netflix is likely re-strategizing its approach due to financial concerns, stressing that its spending on the Nigerian market has exceeded its earnings.
According to AY, Netflix’s struggles in Nigeria are due to the widespread practice of subscription sharing and low subscription rates.
He argued that with a population of over 200 million, Nigeria has a relatively small number of Netflix subscribers, estimated to be around 300,000.
The thespian said the discrepancy suggests that many Nigerians are accessing Netflix content through shared subscriptions, rather than purchasing individual subscriptions.
He said, “I had a meeting with Netflix recently, and it was never mentioned to me that they are opting out of business in this part of the world.
“At the last meeting, we discussed my next project and how they can be a part of it. I also do not want to believe strongly that they are leaving Nigeria.
“There is no way they would leave just the way people are saying it. The truth is if you are doing business in a particular region and you are not making money but spending much more than you making, you would want to re-strategise. That is what is going on with their system and structure.
“…Most of these things do not really deal with the filmmakers alone, it has to do with us as Nigerians. For example, the subscription basis for Netflix in a country that has a population of over 200 million people is just about 300,000 so there is a leakage somewhere that needs to be corrected.
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