Netflix has shut down rumors that it plans to leave Nigeria, emphasizing its dedication to the country’s thriving creative industry.

Earlier today, December 4, 2024, social media buzzed with claims that the global streaming giant was packing up after eight years in Nigeria and four years since launching the popular Netflix Naija.

The speculation began after comments by acclaimed filmmaker Kunle Afolayan at the 2024 Zuma International Film Festival.

Afolayan revealed that Netflix had canceled several commissioned projects, sparking concerns about the platform’s future in Nollywood.

He recounted his own three-film deal with Netflix, describing the initial excitement and global success of his works. However, he noted Netflix appeared dissatisfied with returns in Nigeria.

“Thank God we had shot seasons two and three of Anikulapo,” Afolayan said, hinting that other filmmakers weren’t so lucky.

In response, Netflix quickly cleared the air. “We are not exiting Nigeria,” a spokesperson said. “We will continue to invest in Nigerian stories to delight our audience.”

Netflix has played a pivotal role in showcasing Nigerian talent since 2016.

Its first collaboration was acquiring distribution rights for popular Nollywood films, leading to its groundbreaking original production, Lionheart by Genevieve Nnaji, the platform’s first Nigerian original.

Despite this success, a recent report by Omdia, a London-based research firm, highlighted challenges in Nigeria. The country accounts for only 10.5% of Netflix’s African subscribers, with South Africa dominating at 73.3%.

Across Africa, Netflix has gained 1.6 million subscribers in six years and expects to hit 2.2 million in the next five years.

Although Netflix’s African expansion is slower than in other regions, the platform remains optimistic about Nigeria’s potential.

Its focus on creating local stories that resonate globally is part of its strategy to tap into the rich talent pool Nollywood offers.

For now, Nigerian subscribers can relax. Netflix isn’t going anywhere. In fact, it’s gearing up to bring more compelling Nigerian stories to screens worldwide.