•In Nigeria’s Streaming Sites
Just some months ago, rumour has it that Amazon Prime and some other streaming sites were successful in kicking out Netflix as Nigerians’ most streamed movie site. But just as the storm wavered, it came back with loads of bangs.
Netflix as we all know, has always been the streaming site most Nigerians are aware of, hence the phrase “Netflix n Chill”. Its services have been around in Nigeria for a while and irrespective of its challenges from other powerhouse streaming sites like Amazon Prime and Showmax, it has regarded its top spot in the country.
In the dynamic world of Nollywood, Nigeria’s flourishing film industry, the journey of Netflix towards dominance unfolds against a backdrop of triumphs, hurdles, and strategic intricacies. This deep dive explores the multifaceted challenges shaping Netflix’s presence in the heart of African cinema.
Without a doubt, Nollywood which is Africa’s largest movie hub by volume, has been a cinematic force, particularly in the Anglophone West African region. Recent years have seen Nigeria commanding a staggering 97% of box office revenue in this vibrant film ecosystem. In a testament to the global reach of Nollywood, “The Black Book,” a Nigerian film released in September, made history by becoming the most-watched African film on Netflix.
However, amidst these successes, the world’s leading streaming platform, Netflix, finds itself navigating a complex landscape, grappling with challenges to solidify its foothold in this culturally rich and diverse market.
According to Omdia, a London-based research firm, Nigeria’s contribution to Netflix’s African subscriber base stands at a modest 10.5%. South Africa, on the other hand, boasts a significant 73.3% of Netflix’s African subscribers. On a continental scale, Netflix’s growth trajectory appears somewhat restrained, with a reported 1.6 million subscriptions from Africa after six years in the market. Projections suggest a growth to 2.2 million subscribers in the next five years.
Netflix formally entered Nigeria’s film industry in 2020, four years after marking its presence in Sub-Saharan Africa. A closer look reveals strategic nuances in the streaming giant’s approach. Netflix’s socio-economic impact report discloses a substantial investment of $175 million in sub-Saharan Africa between 2016 and 2022. A considerable 71% of this investment flowed into South Africa, eclipsing Nigeria’s share, which amounted to $23 million (13%).
A few days ago, Netflix shared detailed viewer data on 99% of its catalogue for the first time, including the most-watched shows and movies in the first half of this year. This was announced in a conference call with the media by the company’s co-chief executive Ted Sarando. The streaming giant, previously criticised for its lack of transparency, hopes this initiative will provide deeper insights into audience preferences and foster trust within the creative community.
One standout from the data is “The Night Agent,” a political thriller that accumulated 812 million hours of viewing, making it the most-watched show globally in the first six months of 2023. This release of comprehensive viewing figures is a response to the industry’s demand for greater transparency, a central issue in Hollywood strikes earlier this year. With nearly 250 million subscribers globally, Netflix remains the world’s largest streaming service.
The company clarified that success on Netflix is not solely determined by hours viewed, emphasising audience satisfaction and the size of the viewership relative to the title’s economics.
Just last month, their new movie, ‘The Origin: Madam Koi Koi’ Became Nigeria’s Most-Watched Netflix Series, and since then, has maintained its position as Nigeria’s most-watched show. The film’s director, Jay Franklyn Jituboh, praised the actors and crew in a tweet, revealing that the production had remained at the top for three weeks running.
The first installment premiered on October 31, 2023, followed by the second installment on November 7, 2023. The Origin follows in the footsteps of The Black Book, Ijogbon, and Jagun Jagun, all of which have topped the Netflix charts this year.
It was recalled that it invested nine billion naira in the Nigerian Film Industry in 2022. Ms Shola Sanni, Director of Public Policy for Sub-Saharan Africa, Netflix, made this known at the second Nigeria Digital Content Regulation Conference held in Lagos. The two-day event had in attendance stakeholders in the local and international streaming services, independent producers, Free-To-Air, Pay TV Operators, Telcos, Content Creators, and other operators in the Film Industry.
Sanni stated that this was done through converting local film titles, capacity building, and infrastructure development in the industry. She noted that Netflix had invested in over 200 local licensed titles, and co-produced and commissioned original film content.
With all being said, it seems the streaming giant is here to stand and give no space for takeover with all the hit movies they are dropping week in and week out.
By Benprince Ezeh
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