In a surprising move, global streaming giant Netflix has announced its withdrawal from the Nigerian market. The company has not yet disclosed the reasons for this decision.
This development comes amidst growing competition in the streaming industry and the evolving media landscape in Africa. Netflix, which launched in Nigeria in 2016, had made significant investments in local content production, partnering with Nollywood to deliver original Nigerian films and series.
Industry analysts speculate that challenges such as regulatory hurdles, market saturation, or profitability concerns may have contributed to the decision.
The announcement has sparked reactions from Nigerian filmmakers and subscribers, many of whom have expressed disappointment at the company’s exit.
Netflix is expected to release a detailed statement addressing its decision in the coming days.