Global streaming giant Netflix has dismissed reports suggesting it is exiting the Nigerian market, reiterating its commitment to investing in Nigerian content. The speculation arose following comments by Nigerian filmmaker Kunle Afolayan at the 2024 Zuma International Film Festival, which some media outlets misconstrued.

Afolayan shared his experience with Netflix, highlighting that some commissioned projects had been cancelled despite his films’ global success. “Three years ago, when we signed the three-film deal with Netflix, it was exciting,” he said. He revealed that while his series Anikulapo was extended to a second and third season, other filmmakers with similar deals faced cancellations.

Although Afolayan’s remarks fueled speculation about Netflix’s future in Nigeria, he did not explicitly state that the company was exiting the market. This uncertainty comes after Amazon Prime’s withdrawal from Nigeria in January 2024, just a year after launching a slate of original Nigerian productions and a high-profile marketing campaign.

A Netflix spokesperson clarified the company’s position in response to the rumours. “We are not exiting Nigeria. We will continue to invest in Nigerian stories to delight our audience,” the spokesperson said in a statement to TechCabal. However, Netflix did not address Afolayan’s claims regarding cancelled projects.

The uncertainty reflects broader challenges for Netflix in Nigeria. The platform has struggled to compete with more affordable services like Showmax, operated by Multichoice, which dominates the market. At ₦7,000 ($4) per month, Netflix’s subscription remains a luxury for many Nigerians, particularly as rising inflation and currency devaluation strain consumer spending power.

Despite these challenges, Netflix has made significant contributions to Nigeria’s film industry since entering the market in 2016. The company has invested over $23 million in the sector, supporting over 250 locally licensed titles, co-productions, and original projects. Notable titles include Lionheart, The Wedding Party 2, and King of Boys. Netflix also signed multi-title deals with prominent Nigerian producers, including Mo Abudu’s EbonyLife Productions and Kunle Afolayan, whose recent projects include an adaptation of Sefi Atta’s Swallow.

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