Popular Nigerian comedian and actor Ayo Makun, also known as AY, has addressed the controversy surrounding Netflix’s alleged decision to stop funding Nigerian original movies.

Recall that Nigerian filmmaker Kunle Afolayan recently revealed Netflix had stopped commissioning local content, raising concerns about the streaming giant’s commitment to Nigeria.

Speaking in an interview with Nollywood on Radio, AY clarified that Netflix is not leaving the Nigerian market but is likely re-strategizing due to financial challenges. He explained that Netflix’s investment in Nigeria currently exceeds its earnings, forcing the platform to reconsider its approach.

AY attributed Netflix’s struggles to widespread subscription sharing and low subscription rates. Despite Nigeria’s population of over 200 million, the comedian noted that the number of Netflix subscribers is estimated to be only around 300,000.

He said this discrepancy indicates that many Nigerians access Netflix content through shared accounts rather than purchasing individual subscriptions.

“I had a meeting with Netflix recently, and it was never mentioned to me that they are opting out of business in this part of the world. At the last meeting, we discussed my next project and how they can be a part of it,” AY said.

He added, “If you are doing business in a particular region and you are not making money but spending more than you earn, you would want to re-strategize. That is what is going on with their system and structure.

“Netflix’s issues are not just about filmmakers; they also involve Nigerians. In a country with over 200 million people, only about 300,000 have subscriptions, meaning there’s a leakage somewhere that needs to be corrected. You would see one person sharing a subscription with several others—that’s the real problem.”