Award-winning Nigerian filmmaker Kunle Afolayan has suggested that the growing migration of Nollywood producers to YouTube is strongly influenced by the naira-to-dollar exchange rate, warning that filmmakers could lose interest in the platform if the naira appreciates significantly.
Afolayan made the remarks during a conversation on the Builders Podcast, where he discussed changing distribution patterns in Nigeria’s film industry and the increasing popularity of YouTube among filmmakers.
According to the filmmaker, the dollar-denominated revenue available on YouTube becomes particularly attractive when converted into naira at a weak exchange rate.
“Nigerian filmmakers are rushing to YouTube because of the dollar exchange rate,” Afolayan said. He explained that filmmakers currently celebrate reaching one million views because the revenue could amount to about $10,000, depending on monetisation and other factors.
He added: “But if the dollar falls to ₦200, everyone will run away from YouTube.”
Afolayan, however, acknowledged that YouTube offers advantages beyond its revenue potential. He described the platform as accessible and flexible, particularly for producers who lack the bargaining power or industry connections required to secure deals with major streaming platforms such as Netflix and Amazon Prime.
His comments are significant as YouTube has become an increasingly important distribution channel for Nigerian films, particularly for independent producers seeking direct access to large audiences.
The remarks also highlight the impact of foreign exchange movements on Nigeria’s creative economy. Changes in the naira’s value can significantly affect how dollar-based digital earnings translate into local revenue.
Kunle Afolayan is an established Nigerian actor, producer and director known for films including The Figurine, Phone Swap, October 1 and Aníkúlápó. His latest comments add to ongoing discussions about the future of Nollywood distribution, streaming economics and sustainable film production.
