Nigerian comedian cum film maker, Ayo Makun aka AY has weighed in on the recent controversy surrounding Netflix’s alleged halt in funding Nigerian original movies.
TheNewsGuru.com(TNG) recalls that prominent Nigerian filmmaker, Kunle Afolayan, recently disclosed that Netflix had stopped commissioning Nigerian content, which sparked concerns about the streaming giant’s commitment to the Nigerian market.
Speaking on the development, AY in a recent interview with Nollywood on Radio, revealed the struggles of the streaming platform, clarifying they were not exiting the Nigerian market.
According to the comic actor, the streaming giant’s spending in the Nigerian market has exceeded its earnings, prompting a reassessment of its business model.
The filmmaker further disclosed that Netflix’s struggles in the country are due to the widespread practice of subscription sharing and low subscription rates.
He argued that with a population of over 200 million, Nigeria has a relatively small number of Netflix subscribers, estimated to be around 300,000.
He said, “I had a meeting with Netflix recently, and it was never mentioned to me that they are opting out of business in this part of the world.
“At the last meeting, we discussed my next project and how they can be a part of it. I also do not want to believe strongly that they are leaving Nigeria.
“There is no way they would leave just the way people are saying it. The truth is if you are doing business in a particular region and you are not making money but spending much more than you making, you would want to re-strategise. That is what is going on with their system and structure.
“…Most of these things do not really deal with the filmmakers alone, it has to do with us as Nigerians. For example, the subscription basis for Netflix in a country that has a population of over 200 million people is just about 300,000 so there is a leakage somewhere that needs to be corrected.
“…You would see a person with a Netflix subscription sharing with several people, so that’s the problem. It is not just about the filmmakers.”