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Netflix has denied reports it is pulling out of Nigeria but industry insiders told Semafor Africa the streaming giant has been cutting back on original productions.
“We will continue to invest in Nigerian stories,” a Netflix spokesperson wrote in an email. But two filmmakers who have worked with Netflix on Nigerian productions said local filmmakers were told last month that their Netflix original projects were either being put on hold or shelved.
The conversations with filmmakers were said to have come days after Netflix threw a glamorous “Lights, Camera… Naija!” party on Nov. 2 with a raft of Nollywood actors and celebrities at a venue in Lagos.
The devaluation of the naira currency and runaway inflation are said to have made production costs unsustainable in the near term. Filmmakers said they believe Netflix will continue to license Nigerian films, but likely only ones which already had some traction at local cinemas or elsewhere rather than investing in production.
