Reports indicate that Netflix has withdrawn from the Nigerian market, a move coinciding with the country’s deepening economic crisis.
Filmmaker Kunle Afolayan appeared to corroborate this development, revealing that Netflix had cancelled previously commissioned projects in Nigeria. According to sources, Netflix recently scrapped its Nigerian Originals, citing challenges such as film studios lacking electricity and relying on generators during production.
Executives at the streaming platform reportedly told The Gazette on Wednesday, December 4, that Nigeria’s worsening economic situation under President Bola Tinubu’s administration made the decision to exit the market unavoidable.
“We’re exiting the Nigerian market,” an official said under anonymity, pending an official announcement. “We’ve lost too many paying subscribers, and the exchange rate of naira against the American dollar also did not help us in any way.”
The development came barely six years after Netflix entered Africa’s largest economy with the production of Lionheart.
Source: https://www.lindaikejisblog.com
