Netflix has left Nigeria due to economic situations and numbers of subscribers

Nollywood has been dealt another significant blow as Netflix announced the cancellation of its Nigerian Originals.

According to Nollywood Wire, Netflix exited Nigeria in November 2024, ending the financial support streaming platforms provided for the production of Nigerian content.

Netflix was said to have quietly called their frequent collaborators and told them the sad news that they would be cutting back on acquiring Nigerian content.

Netflix has not yet provided an official statement explaining its actions, but speculation suggests that factors such as Nigeria’s fluctuating exchange rates, high inflation, and economic uncertainty—making business increasingly costly for international companies—could be a contributing factor to its decision.

Another possible factor is that Nigeria’s subscription base may have fallen short of Netflix’s expectations. Streaming platforms rely on large audiences to succeed, but high subscription fees, limited internet access, and expensive data costs could have deterred many Nigerians from subscribing.

Netflix exist followed Prime Video’s depature from Africa

Recall in January 2024, another global streaming platform, Amazon Prime, stopped local content production in Africa, one year and four months after it launched.

According to Variety, Prime Video, the third largest streaming platform in Africa, is restructuring its business model and shifting focus to its European market. In an email to local staff, Barry Furlong, vice president of Prime’s EMEA division, said that the decision was made to help the business shift focus to areas with the highest impact.

“I have carefully evaluated our structure in the region and decided to make some adjustments to our operating model to rebalance and pivot our resources to focus on the areas that drive the highest impact and long-term success.”