Ace filmmaker Kunle Afolayan has predicted that many Nollywood producers could abandon YouTube as a distribution platform if the naira gains significant value against the US dollar.
Afolayan made the comment during an interview with former Minister of Finance, Kemi Adeosun, on the Nidacity Podcast, where he discussed the growing shift of Nigerian filmmakers towards digital platforms.
According to the filmmaker, the exchange rate is a major factor driving Nollywood’s increasing presence on YouTube, as filmmakers earn revenue in dollars based largely on the number of views their productions attract.
He explained that while YouTube offers greater flexibility and accessibility, major streaming platforms such as Netflix and Prime Video generally provide better commercial opportunities for filmmakers.
“YouTube can never give you what Netflix and Prime will give you, right? Never. But it’s the most flexible. It’s for everyone. It’s like a starting point.”
Afolayan said filmmakers who lack the financial capacity, industry connections or negotiating power to secure deals with major streaming platforms can independently upload their films to YouTube and earn revenue from viewership.
He, however, warned that the platform’s financial appeal could diminish considerably if the naira strengthens against the dollar.
According to him, the current exchange rate makes dollar-denominated YouTube earnings particularly attractive to Nigerian filmmakers.
“The reason why people now will say, ‘I’ve hit a million views, I get $10,000,’ is because of the exchange rate. If dollar drops, everybody will run away from YouTube.”
He suggested that if the exchange rate fell to about N200 to $1, many filmmakers could lose the financial incentive to remain on the platform.
“So the attraction right now is the exchange rate because that’s what’s making it more profitable than it possibly is. So, if dollar comes to, say, N200 to $1, people will leave.”
Afolayan nevertheless acknowledged YouTube’s importance as an entry point for filmmakers who are unable to secure distribution agreements with major streaming companies.
He said the platform allows producers to independently release their films, reach large audiences and generate income based on viewership, making it an accessible option for filmmakers across the industry.
