When Netflix and Amazon quietly exited Nigeria, filmmakers woke up to abrupt contract cancellations, no warnings, no negotiations. Now, director Niyi Akinmolayan points to one culprit: the naira’s freefall. As streaming revenue vanishes, Nollywood faces its toughest production crisis in years.
- Silent Exit: Global platforms like Netflix and Amazon withdrew licensing deals via "sudden emails," blindsiding filmmakers.
- Naira’s Role: Currency devaluation made Nigeria "unprofitable" for streamers paying dollar-denominated fees.
- Govt Shortfalls: No intervention or dialogue to retain $100M+ industry investments.
- Domino Effect: Filmmakers now struggle to fund projects without streaming advances.
When exchange rates dictate culture, art pays the price. "Should the government protect creative industries from economic shocks, or should Nollywood adapt independently?"
