Nollywood Secures Landmark $50 Million Deal with Netflix for Original Content
In a major boost for Nigeria’s film industry, Netflix has announced a groundbreaking $50 million deal with the Nollywood sector for the production of original content over the next two years. The agreement, unveiled at a star-studded event in Lagos yesterday, marks the streaming giant’s largest investment in African content to date.
The deal will fund the creation of at least 10 original series and 5 feature films, all to be produced by Nigerian filmmakers and production companies. Netflix executives emphasized their commitment to showcasing authentic Nigerian stories to a global audience.
Dorothy Ghettuba, Netflix’s Head of African Originals, stated, “Nollywood’s creativity and storytelling prowess have captivated audiences across Africa for decades. With this partnership, we aim to bring these compelling narratives to our global viewership of over 230 million subscribers.”
Key points of the deal include:
1. A focus on diverse genres, from drama and comedy to thriller and historical epics.
2. Opportunities for both established and emerging Nigerian talent, both in front of and behind the camera.
3. Investment in state-of-the-art production facilities in Lagos and Abuja.
4. Training programs to nurture the next generation of Nigerian filmmakers.
Renowned Nollywood director Kemi Adetiba, whose “King of Boys” series was a hit on Netflix, expressed her excitement: “This deal opens up unprecedented opportunities for us to tell our stories on a global stage. It’s a new dawn for Nollywood.”
The Nigerian Film Corporation has hailed the deal as a “game-changer” for the industry. Its Executive Director, Dr. Chidia Maduekwe, commented, “This investment will not only boost our local film economy but also showcase Nigerian culture and talent to the world.”
Industry analysts predict that this deal could spark a new era of growth for Nollywood, potentially attracting further international investments and collaborations. It’s also expected to create thousands of jobs in the Nigerian creative sector.
As part of the announcement, Netflix previewed several upcoming projects, including an adaptation of Chimamanda Ngozi Adichie’s novel “Americanah” and a high-budget series about the ancient Benin Kingdom.
With this landmark deal, Nollywood is poised to expand its global footprint, bringing Nigerian stories and talent to screens around the world like never before.
