Nollywood faced another major setback when Netflix announced it would no longer produce Nigerian Originals. According to Nollywood Wire, Netflix withdrew from Nigeria in November 2024, ending the financial backing those streaming platforms provided for Nigerian content production.
It was reported that Netflix discreetly informed their collaborators about the news, saying they would reduce their acquisition of Nigerian content.
Netflix has yet to issue an official statement clarifying its decision, but speculation indicates that factors such as Nigeria’s unstable exchange rates, high inflation, and economic instability—making it increasingly expensive for international companies to operate—may have influenced this choice.
Another potential reason is that Nigeria’s subscriber numbers may not have met Netflix’s expectations. Streaming services need a large audience to thrive, but high subscription costs, limited internet connectivity, and expensive data might have discouraged many Nigerians from signing up.
In January 2024, another major streaming service, Amazon Prime, also halted its local content production in Africa just one year and four months after its launch.
According to Variety, Prime Video, Africa’s third most significant streaming service, is reorganising its business model to concentrate on the European market.
For audiences, Nigerian viewers will lose access to a platform that has introduced a broader range of international content and elevated Nollywood’s visibility on the global stage. While other platforms are available, Netflix possesses a distinct appeal.
For creators, Netflix provided a crucial platform for Nigerian filmmakers, actors, and writers to display their talents to an international audience.
Without Netflix, creators may find fewer chances to enter the global market. For the industry, Netflix established a benchmark for production quality in Nigeria. Their departure could hinder progress toward improved standards and funding in Nollywood.
