Nigerian Entertainment News: Netflix Allegedly Exits Nigerian Market After Six Years
Netflix is reportedly pulling out of Nigeria as the nation’s economy continues to face significant challenges
Prominent filmmaker Kunle Afolayan seemingly confirmed the news, revealing that Netflix has halted previously approved projects in the country.
The streaming platform recently discontinued its Nigerian Originals, with an insider pointing to issues such as unreliable electricity on film sets, forcing studios to depend on generators.
An official from the leading on-demand streaming service told The Gazette on Wednesday, December 4, that the deteriorating economic conditions under President Bola Tinubu’s administration prompted the decision.
“We’re leaving the Nigerian market,” the source disclosed anonymously, ahead of a formal statement. “Subscriber losses and the unfavorable naira-to-dollar exchange rate severely impacted our operations.”
This decision comes just six years after Netflix made its entry into Africa’s largest economy, debuting with the production of Lionheart.
Watch the video announcement below.
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