Comedian and actor AY Makun has addressed the growing concerns regarding Netflix’s alleged decision to halt funding for Nigerian original films, a controversy sparked by filmmaker Kunle Afolayan’s claims. Afolayan had suggested that Netflix had ceased commissioning Nigerian originals, raising questions about its commitment to the Nigerian market.
Speaking during an interview with Nollywood on Radio, Makun dispelled the rumors, asserting that Netflix is not withdrawing from Nigeria but is instead re-evaluating its strategy due to financial challenges. “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,” he said. “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.”
Makun attributed Netflix’s challenges in Nigeria to significant financial losses. “The truth is, if you are doing business in a particular region and you are not making money but spending much more than you’re making, you would want to re-strategize. That is what is going on with their system and structure,” he explained.
He highlighted the disparity between Netflix’s expenditure in Nigeria and its earnings, emphasizing the widespread practice of subscription sharing and low subscription rates as major contributors to the streaming giant’s struggles. “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,” he noted.
Makun elaborated on how shared subscriptions significantly impact Netflix’s revenue. “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,” he concluded.
While Netflix’s official stance on commissioning Nigerian originals remains unclear, Makun’s comments suggest that the platform is more focused on optimizing its operations in Nigeria rather than withdrawing from the market altogether.