Nigerian filmmaker and actor, Kunle Afolayan, has argued that the growing number of Nollywood producers releasing films on YouTube is largely driven by the current dollar-to-naira exchange rate.
Afolayan made the remarks during a recent interview with former Minister of Finance, Kemi Adeosun, on the Nidacity Podcast.
The filmmaker criticised what he described as the rush by Nollywood producers to YouTube, arguing that the platform does not offer the same opportunities and value as major streaming platforms such as Netflix and Prime Video.
According to him, YouTube is, however, a useful entry point for upcoming filmmakers and producers who lack the financial resources, industry leverage or connections required to secure distribution deals with major streaming platforms or cinemas.
“Nollywood producers rushing to YouTube is not the way to go. YouTube can never give you what Netflix and Prime would give you. However, it is the most flexible. It is for everyone. It is like a starting point.”
Afolayan explained that YouTube provides filmmakers with an accessible platform where they can independently upload their productions and potentially earn revenue based on audience engagement.
He further suggested that the current exchange rate is encouraging producers to view YouTube earnings in dollar terms as particularly attractive.
“Nigerian filmmakers are rushing to YouTube because of the dollar exchange rate. At ₦1,400 to $1, they celebrate 1 million views because it can bring in about $10,000.”
He added that the enthusiasm could change if the naira strengthens significantly against the dollar.
“But if the dollar falls to ₦200, everyone will run away from YouTube. I pray the dollar-to-naira exchange rate comes down.”
His comments have reignited conversations around Nollywood’s changing distribution landscape, particularly the growing role of YouTube alongside cinemas and subscription-based streaming platforms.
