Netflix cuts funding for Nigerian movies — Kunle Afolayan

Renowned Nigerian filmmaker, Kunle Afolayan, has expressed deep concern over Netflix’s recent decision to reduce funding for Nigerian movies.

This move, according to Afolayan, could significantly impact the burgeoning Nollywood industry.

In a recent interview, Afolayan highlighted “The budget we are being given is tied to what we earn. A week after Aníkúlápó was released, it peaked at number 1 globally, because of that, they commissioned the first series and after the first season they commissioned season two and three. Thank God we’ve shot season 2 and 3 because other people who were commissioned at the same time have had their projects cancelled.”

According to Kunle AFolayan, shooting has wrapped up for seasons 2 and 3 of Aníkúlápó while Mo Abudu’s ‘Blood Sisters 2 is still in process.

This confirms earlier rumours that Netflix has restructured its funding strategy in Africa, cutting off commissioned projects in countries such as Nigeria.

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This is similar to Amazon Prime Video which at the beginning of the year underwent a strategic shift in its international operations, directing its attention towards European original content which led to the platform downsizing and reducing funding and resources allocated to Africa and the Middle East.

Netflix announced last year that it has invested over $23 million in the Nigerian film industry in the last seven years with the investments supporting a total of 5,140 jobs in Nigeria.

Since its launch in Nigeria in 2016 Netflix has commissioned and co-produced many Nigerian films, including, Lionheart: Genevieve Nnaji’s directorial debut and the first Nigerian original film on Netflix, Aníkúlápó and Aníkúlápó series by Kunle Afolayan, Blood Sisters, Shanty Town, King of Boys, Far from Home, ‘Jagun Jagun’, ‘Oloture the journey’, Blood Vessel, Ijogbon, and (Series).

Sources close to Netflix revealed to BusinessDay that the company remains committed to Nigerian stories. However, they said the company is adjusting its investment strategy and more selective process in licencing local content.

“They’re picking and choosing what kind of local content investment or titles they want to keep licencing in Nigeria, They’re still kind of focused on the local stories coming out from Nigeria,” a source said.

Other sources said there are still opportunities in Netflix in terms of licensing.

Efforts to get Netflix official comments proved abortive at the time of filing this report.