Ace filmmaker Kunle Afolayan has said Nollywood producers may abandon YouTube as a distribution platform if the naira strengthens significantly against the U.S. dollar.
Afolayan made the statement during an interview with former Minister of Finance, Kemi Adeosun, on the Nidacity Podcast, while discussing the growing migration of Nollywood filmmakers to digital platforms.
He said the financial incentive created by the exchange rate was a major reason many filmmakers were moving their productions to YouTube.
According to him, filmmakers earning substantial revenue from high viewership on the platform could lose interest if the naira appreciated significantly against the dollar.
“But look, 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.
“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,” he said.
Afolayan acknowledged that YouTube offered filmmakers flexibility and accessibility but said platforms such as Netflix and Prime Video provided better opportunities.
“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.
“If you don’t have the strength to negotiate or if you don’t have access to the big players, then you just make your film, open an account, and put it there.
“If people watch it, you make your money,” he said.
He described YouTube as a suitable starting point for filmmakers who lacked the resources or bargaining power to secure deals with major streaming platforms, allowing them to independently upload their films and earn revenue based on viewership.
