Ace filmmaker Kunle Afolayan has said Nollywood producers may leave YouTube as a distribution platform if the Naira strengthens significantly against the U.S. Dollar.
Afolayan argued that the current attraction to YouTube is driven by the exchange rate, as a million views can generate around $10,000, a figure that translates to a considerable sum in local currency given current exchange rates.
A Warning from a Filmmaker
Ace filmmaker Kunle Afolayan has said Nollywood producers may leave YouTube as a distribution platform if the Naira strengthens significantly against the U.S. Dollar.
Afolayan stated this in an interview with former Minister of Finance, Kemi Adeosun, on the Nidacity Podcast, while discussing the increasing migration of Nollywood filmmakers to digital platforms.
According to him, most filmmakers who have migrated to YouTube will abandon the platform if the exchange rate were to fall significantly.
He argued that the financial incentive was a major reason filmmakers are moving their productions to the platform.
YouTube as a Starting Point
The filmmaker said although YouTube offered filmmakers greater flexibility and accessibility, 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,” he said.
“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.
The Exchange Rate Factor
He said filmmakers currently earning substantial revenue from high viewership on YouTube could lose interest in the platform if the naira strengthened 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,” he said.
“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 added.
A Suitable Starting Point
Afolayan also described YouTube as a suitable starting point for filmmakers who lacked the resources or bargaining power to secure deals with major streaming platforms.
The filmmaker said such producers could independently upload their films to YouTube and earn revenue based on viewership, making the platform accessible to a wider range of filmmakers.
A Lesson for Nigeria
Kunle Afolayan’s warning is a reminder that Nigeria’s creative economy is deeply tied to the value of the naira.
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For Nigeria, the lesson is clear: economic stability is essential for creative growth. The same leaders who fail to stabilise the currency will never allow their own children to be victims of economic volatility.
Demand economic stability. Support local content. And never forget that a weak currency is not a blessing — it is a reflection of a weak economy.
