In recent news, there were reports suggesting that Netflix might be exiting the Nigerian market. However, Netflix has refuted these claims, emphasizing its commitment to investing in Nigerian content. The speculation arose from comments made by Nigerian filmmaker Kunle Afolayan, who mentioned that some films commissioned by Netflix were canceled. Despite this, Afolayan did not explicitly state that Netflix was leaving Nigeria.
A Netflix spokesperson reassured the public of the company’s dedication to Nigeria, stating that they have no plans to exit the market and will continue to invest in Nigerian stories. The uncertainty around Netflix’s strategy in Nigeria has been a topic of discussion, especially with the competitive streaming market dominated by more affordable services like Showmax. Netflix’s higher pricing, currently at ₦7,000 per month, poses a challenge in a market affected by inflation and currency devaluation.
Since establishing its presence in Nigeria in 2016, Netflix has invested significantly in the local film industry, supporting various titles and collaborations. Despite facing competition from local players with better pricing strategies, Netflix aims to maintain its position in the region.