Rushing to YouTube Isn’t the Answer, Dollar May Crash’ — Kunle Afolayan Warns

Nigerian filmmaker and actor Kunle Afolayan has cautioned Nollywood producers against rushing to YouTube, arguing that the growing interest in the platform is largely driven by the current value of the dollar against the naira.

According to Ireporter Online, Afolayan made the remarks during a recent conversation with former Minister of Finance, Kemi Adeosun, on the Nidacity Podcast.

The filmmaker argued that while YouTube provides filmmakers with a flexible and accessible platform to distribute their content, it cannot offer the same opportunities available on major streaming platforms such as Netflix and Prime Video.

Afolayan, however, acknowledged that YouTube remains a useful platform for upcoming producers and filmmakers who may not have the resources, connections or negotiating power required to secure deals with major streaming services or cinema operators.

“Nollywood producers rushing to YouTube is not the way to go. YouTube can never give you what Netflix and Prime would give you,” he said.

He explained that the platform remains attractive because it allows virtually anyone to create an account, upload a movie and earn revenue based on viewership.

According to Afolayan, many Nigerian filmmakers are currently attracted to YouTube because earnings in dollars become more valuable when converted to naira.

He said that at an exchange rate of about ₦1,400 to one dollar, a film that generates one million views could earn approximately $10,000, making the platform financially appealing to producers.

However, the filmmaker predicted that the enthusiasm for YouTube could decline significantly if the naira strengthened substantially against the dollar.

“Nigerian filmmakers are rushing to YouTube because of the dollar exchange rate. At ₦1,400 to $1, they celebrate one million views because it can bring in about $10,000. But if the dollar falls to ₦200, everyone will run away from YouTube,” Afolayan said.

The filmmaker added that he hoped the value of the dollar would decline against the naira, stressing that the current exchange rate plays a major role in the financial decisions being made by many Nigerian content producers.