Real Reason NETFLIX Re-Considered its Approach in Nigerian Market – AY Comedian

Amid concerns over Netflix’s reported restructuring in Nigeria, popular comedian and filmmaker Ayo Makun, widely known as AY, has shed light on the streaming giant’s true stance in the Nigerian market.

The conversation began earlier in December when Victor Ohai, President of the Directors Guild of Nigeria, announced during the Zuma Film Festival in Abuja that Netflix had halted the acquisition of new films and streamlined its investments in Nollywood effective November 2024. This sparked widespread speculation and debate within the film industry.

Fueling the controversy further, comedian Bright ‘Basketmouth’ Okpocha alleged that mismanagement of funds by Nollywood producers contributed to Netflix’s decision to scale back its presence.

However, speaking during an interview on Nollywood on Radio on Sunday, AY clarified that Netflix is not exiting the Nigerian market but rather reassessing its strategy due to financial challenges.

“Netflix Is Re-strategising, Not Leaving”

AY disclosed that he had a recent meeting with Netflix representatives regarding his upcoming project, where no indication was given about the company withdrawing from Nigeria. Instead, he explained that Netflix is restructuring due to issues affecting its profitability in the region.

“There is no way they would leave just because people say it. The truth is, if you are doing business in a particular region and you are not making money but spending much more, you would want to re-strategise,” AY stated.

Low Subscriptions in a Large Market

AY also pointed to Nigeria’s low Netflix subscription numbers as a contributing factor. Despite a population of over 200 million people, Netflix reportedly has only 300,000 active subscriptions in the country. He highlighted the widespread practice of shared accounts as a significant problem.

“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 alone; it has to do with us as Nigerians,” he noted.

AY’s Upcoming Project: ‘The Waiter’

AY also used the platform to discuss his latest film, The Waiter, which premiered over the weekend and is set for release in cinemas across Nigeria, Ghana, and Liberia on December 20.

The action-packed movie follows a waiter who gets caught up in a hotel invasion, leading to an intense and thrilling adventure. The film features an impressive cast, including Shaffy Bello, Regina Daniels, Deyemi Okanlawon, Rahama Sadau, Williams Uchemba, and Toke Makinwa.

As stakeholders continue to weigh in on Netflix’s evolving relationship with Nollywood, AY’s comments provide clarity, emphasising the need for both industry reform and broader accountability within the market.