December 16, (THEWILL) – Renowned comedian and filmmaker, Ayo Makun, popularly known as AY, has addressed recent speculations about Netflix’s alleged withdrawal from funding Nigerian original movies.
AY clarified that the global streaming platform is not exiting the Nigerian market but is likely re-evaluating its business strategy due to financial concerns.
The controversy began when acclaimed filmmaker Kunle Afolayan disclosed that Netflix had stopped commissioning Nigerian originals, sparking widespread concern about the company’s commitment to the Nigerian creative industry.
Speaking on the issue, AY stated that Netflix’s challenges in the Nigerian market stem from low subscription rates and widespread subscription sharing.
He noted that with a population of over 200 million people, Netflix’s subscriber base in Nigeria is estimated at just 300,000—a figure that highlights significant market leakages.
According to AY, Netflix has been spending more in the Nigerian market than it earns, prompting a necessary reassessment of its business model.
He said, “There’s no way Netflix is leaving the Nigerian market the way people are speculating.
“If you’re running a business in a particular region and spending much more than you’re earning, it’s only natural to re-strategize. That’s what is happening with their system and structure.”
He added that the issue isn’t solely about the filmmakers but also about how Nigerians engage with the platform.
“For example, in a country with over 200 million people, Netflix has only about 300,000 subscribers. Many Nigerians access Netflix content through shared subscriptions rather than purchasing individual ones, and that’s a major challenge,” he explained.
AY also revealed that his recent meeting with Netflix contradicted the claims of a market exit.
“At our last meeting, there was no mention of Netflix leaving Nigeria. We even discussed my next project and how they can be involved,” he said.
He maintained that the platform remains committed to the Nigerian market but must adjust its strategy to address profitability concerns.
AY urged Nigerians to support Netflix and other platforms by subscribing individually rather than sharing accounts. He stressed that such practices directly affect the platform’s ability to thrive in the market and continue supporting local filmmakers.
“The problem isn’t just with filmmakers. It’s a systemic issue that involves all of us as Nigerians. If we want platforms like Netflix to continue investing in our creative industry, we must change how we engage with their services,” he concluded.
Ivory Ukonu is a versatile journalist with many years of experience, with entertainment and society reporting as her area of core competence.
