Filmmaker Kunle Afolayan says Nigeria’s exchange rate is making YouTube increasingly attractive to local filmmakers seeking better returns.
Filmmaker Kunle Afolayan has attributed the growing interest of Nigerian filmmakers in YouTube to the naira’s exchange rate against the dollar.
Afolayan made the remarks during an appearance on the Builders Podcast by Nidacity, where he discussed YouTube’s growing role in Nollywood and whether the platform could become a major alternative for actors and filmmakers.
According to the filmmaker, YouTube offers flexibility and provides an entry point for creators who may not have access to major streaming platforms or the negotiating power to secure bigger deals.
“YouTube can never give you what Netflix and Prime will give you. But it’s the most flexible, it’s for everyone. It’s like a starting point,” he said.
He added that filmmakers without access to major industry players could produce their films independently and use YouTube to reach audiences and generate revenue.
“If you don’t have the strength to negotiate, if you don’t have access to the big players, then make your film, open an account and put it there. If people watch it, you make your money,” Afolayan said.
However, Afolayan argued that the financial attraction of YouTube is closely connected to the value of the dollar against the naira, rather than solely to the platform’s creative opportunities.
“The reason why people now would say, ‘Oh, I hit 1 million views, I get $10,000,’ is because of the exchange rate. If dollar drops, what happens? Everyone will run away from YouTube,” he said.
He further suggested that a significant strengthening of the naira could reduce the platform’s appeal to Nigerian filmmakers.
“If dollar comes to say 200 Naira to $1, people will leave YouTube,” he said.
During the podcast, Afolayan also discussed the production challenges faced while filming his 2022 Netflix film, Aníkúlápó.
He said the production team struggled with accommodation for the cast, with some actors having to stay in local homes during filming.
“When we shot Aníkúlápó, we didn’t have accommodation. We were squatting in people’s houses. Sola Sobowale and Bimbo Ademoye even brought their mattresses and freezers from home,” he said.
Afolayan said the experience influenced his decision to establish 100 rooms at his film village, aimed at providing accommodation for cast and crew on future productions.