Netflix pulls out of Nigeria after eight years of streaming

Global streaming star Netflix has reportedly pulled out of the Nigerian market, marking the end of an eight-year success story in Africa’s most populous country.

Since its launch, Netflix has revolutionized the way Nigerians consume entertainment, offering a mix of exciting Nollywood originals and Hollywood blockbusters.

The platform became a major player in Nigeria’s creative industry, funding numerous local productions and giving Nollywood a global stage. In recent years, hugely successful Nigerian Netflix originals such as Anikulapo, Blood Sisters, Far From Home, Shanty Town and King of Boys have been added to the Netflix service.

Accordingly Nollywood WireNetflix officially left Nigeria in November 2024, stopping the financial support the company once provided for the creation of Nigerian content.

While the news has been quietly circulating among major Nollywood stakeholders, the platform has yet to make an official statement, leaving many questions unanswered about the reasons behind the decision.

However, the move may not be unrelated to profitability issues. While Netflix reported a downward trend in subscriptions in other markets, the company has been able to sustain this trend so far.

Renowned Nigerian filmmaker Kunle Afolayan, known for his collaborations with Netflix, confirmed at the 2024 Zuma Film Festival that the streaming platform has not commissioned any new Nigerian originals.

Afolayan noted that unlike many of his colleagues, he was lucky to get a third season for his acclaimed series Aníkúlápo before this decision was made.

Netflix’s departure raises concerns about the future of streaming in Nigeria and the support for homegrown content that the platform has championed. As both audiences and makers grapple with this development, it remains to be seen how this will impact Nollywood’s global dynamics.

However, the streaming giant’s influence goes beyond just entertainment and also has significant economic impact. Since entering key countries in Sub-Saharan Africa (SSA), Netflix has been contributing to all economic sector value chains within and alongside the cultural and creative industries and stakeholder ecosystems

According to its impact report, Netflix invested a total of $175 million in content and local creative ecosystems in South Africa, Kenya and Nigeria from 2016 to 2022. In Nigeria, over $23 million has been invested in over 250 local licensed, co-produced and commissioned film content since 2016.

Netflix’s investments contributed $39 million to GDP, $34 million to household income, and $2.6 million to tax revenue. A total of 5,140 jobs were supported across the economy.