Streaming giant Netflix has dispelled rumors of its departure from Nigeria, emphasizing its dedication to supporting and amplifying local content.
The speculation arose following comments by acclaimed Nigerian filmmaker Kunle Afolayan during the 2024 Zuma Film Festival, where he revealed that several Netflix projects had been canceled.
While Afolayan hinted at concerns over the platform’s returns in the Nigerian market, Netflix was quick to address the claims. In a statement, the company affirmed, “We are not exiting Nigeria. We will continue to invest in Nigerian stories to delight our audience.”
Despite facing challenges such as inflation and stiff competition from affordable streaming platforms like Showmax, Netflix remains steadfast in its commitment to Nollywood.
Since 2016, the company has invested over $23 million in Nigerian productions, delivering acclaimed titles like LION HEART and KING OF BOYS that have garnered global recognition.
Netflix’s reaffirmation underscores its position as a key player in Nigeria’s film industry. By continuing to champion local storytelling, the platform is ensuring that Nigerian content reaches audiences worldwide, cementing its role in the growth and global influence of Nollywood.