AY Makun Highlights Netflix’s Challenges in Nigeria: ‘200 Million People, Only 300K Subscriptions’
Nigerian comedian and actor AY Makun has weighed in on the ongoing conversation about Netflix’s position in the Nigerian film industry, addressing claims that the streaming giant may be withdrawing from funding local original content.
The controversy began when renowned Nigerian filmmaker Kunle Afolayan suggested that Netflix had halted commissioning Nigerian original films. This sparked concerns about Netflix’s long-term commitment to the Nigerian entertainment market. However, AY Makun clarified the situation during an interview, as reported by Vanguard News, explaining that Netflix is not leaving Nigeria but is instead rethinking its business strategy due to financial challenges.
“I recently had a meeting with Netflix, and at no point was it mentioned that they were pulling out of Nigeria,” AY stated. “In fact, we discussed my next project and how Netflix could partner with me on it. I don’t believe they are leaving the Nigerian market.”
AY attributed Netflix’s challenges in Nigeria to financial hurdles caused by significant operational expenses and lower-than-expected revenue.
“When you’re running a business in a particular region and spending more than you’re earning, it’s only natural to step back and re-strategize. That’s exactly what Netflix is doing right now,” he explained.
He highlighted the issue of low subscription numbers and widespread subscription sharing as key factors impacting Netflix’s profitability in Nigeria.
“For a country with over 200 million people, the number of Netflix subscriptions is just about 300,000. That clearly points to a leak in the system that needs fixing,” AY revealed.
The comedian further elaborated that many Nigerians are accessing Netflix content through shared accounts, which reduces the platform’s potential revenue. This practice, combined with low subscription rates, has forced Netflix to reconsider its current approach in the Nigerian market.
AY Makun’s comments provide insight into Netflix’s challenges and underline the need for structural changes to ensure the sustainability of streaming platforms in Nigeria. While concerns remain, his statement reassures the entertainment industry that Netflix is still interested in collaborating with Nigerian creators and investing in local content, albeit with a refined strategy.