Netflix, the global streaming giant, has reportedly pulled out of the Nigerian movie market after eight years of operations. Renowned Nigerian filmmaker Kunle Afolayan disclosed this development during his speech at the 2024 Zuma Film Festival. While Netflix has yet to issue an official statement, Afolayan confirmed the platform’s withdrawal, noting that the decision was deliberately kept low-profile.

Since its entry into Nigeria in 2016, Netflix has played a pivotal role in the local film industry, funding and distributing Nigerian content globally. Its partnership with acclaimed filmmakers like Afolayan has elevated Nollywood’s global presence. However, according to Nollywood Wire, Netflix officially ceased its operations in the Nigerian market in November 2024.

Reports suggest that the platform has informed its frequent collaborators of its decision to reduce acquisitions of Nigerian content. Despite this confirmation, Netflix has not provided reasons for its withdrawal or made any public declarations about the move.

The exit of Netflix signifies a significant change for Nigeria’s film industry, which has benefited from the platform’s financial support and its ability to showcase Nollywood productions on the international stage. The decision could reshape the landscape of Nigerian filmmaking, leaving room for new strategies and partnerships to fill the void left by Netflix’s departure.