Data from Netflix reveals that more than $325 billion was contributed to the global economy over the past decade, creating more than 425,000 jobs in over 50 countries, including Nigeria.
A decade ago, Netflix expanded into almost every country in the world in a single day, and since then, it has been “a champion of local stories”, spotlighting them on a global stage.
Netflix signalled its Nigeria ambitions with the acquisition of Lionheart, a film produced in 2018 by industry veteran, Genevieve Nnaji, as its first original film in the country.
The streamer has since commissioned and co-produced multiple original series and films in the years since.
However, in late 2024, it was reported that Netflix was exiting the Nigerian market; it denied the reports, but has since cut back on original productions.
Viewing of non-English language titles represented less than a tenth of total viewing on Netflix ten years ago, while today it’s more than a third.
Netflix says the data underscores its continued commitment to supporting creative communities everywhere.
In Nigeria, some Netflix-affiliated films have amassed hit followings and series, such as Gingerrr, King of Boys, The Black Book, Anikulapo, Sugar Rush, Hijack ’93, among others.
Speaking on the development, Mr Ted Sarandos, co-CEO of Netflix, commented: “[…] what really matters are the people behind those numbers — the writers, directors, carpenters and electricians, the small business owners and community members and of course, the fans who make everything possible.”
This data is revealed as Netflix launches The Netflix Effect, designed to bring together stories from around the world that explore the economic and cultural impact Netflix has had on the entertainment industry.
“Over the last decade, Netflix shows and movies have consistently shaped what people read, buy, listen to, eat, wear and play. We’ve pushed old songs back up the musical charts, helped niche sports go mainstream, and boosted sales of everything from chess sets to Halloween costumes, to home storage.” Mr Sarandos added.
“Now we have a responsibility to keep that flywheel going. That’s why, while other entertainment companies pull back, we’re leaning in — spending tens of billions of dollars on content every year, investing in production facilities from Spain to New Jersey, and growing the entertainment industry through training programmes that have reached over 90,000 people across more than 75 countries.”