Popular Nollywood filmmaker Kunle Afolayan has said many Nigerian movie producers may stop using YouTube if the naira gains significant value against the US dollar.
Afolayan made this known during an interview with former Minister of Finance, Kemi Adeosun, on the Nidacity Podcast.
The filmmaker was speaking about the growing number of Nollywood producers who are moving their movies to digital platforms, especially YouTube.
According to Afolayan, the current exchange rate is one of the major reasons filmmakers are attracted to YouTube because they can earn money in dollars while spending most of their production costs in naira.
He explained that although YouTube gives filmmakers easy access to audiences and allows them to distribute their movies without dealing with major streaming companies, platforms such as Netflix and Prime Video offer better financial opportunities.
“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.
“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.
Afolayan said the exchange rate has made YouTube more attractive because filmmakers who get millions of views can earn significant amounts in dollars.
He gave an example of a filmmaker who could earn about $10,000 after getting one million views.
“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.
The filmmaker added that if the dollar falls to about N200, many producers may no longer find YouTube as profitable as it is today.
“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, however, described YouTube as a useful platform for upcoming filmmakers who do not have the financial strength or connections to secure deals with major streaming platforms.
He said such producers can make their films, upload them independently on YouTube and earn money based on the number of people who watch them.
He noted that this makes YouTube an accessible starting point for filmmakers seeking to build an audience and generate income from their productions.
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