Afolayan: YouTube’s Attraction to Nollywood Tied to Exchange Rate

Ace filmmaker Kunle Afolayan has said Nollywood producers could lose interest in YouTube as a distribution platform if the naira strengthens significantly against the U.S. dollar. Afolayan made the remark during an interview with former Minister of Finance, Kemi Adeosun, on the Nidacity Podcast, while discussing the growing movement of Nollywood filmmakers to digital platforms. He said the financial returns from YouTube, particularly when converted from dollars to naira, have become a major attraction for producers. According to him, filmmakers who are currently earning substantial revenue from high viewership could reconsider the platform if the exchange rate changes significantly. He cited the example of producers earning about $10,000 from one million views, arguing that the current exchange rate makes such earnings more attractive when converted into naira.

Afolayan acknowledged that YouTube offers filmmakers flexibility and accessibility, particularly those who lack the resources, connections or bargaining power to negotiate with major streaming platforms. He, however, maintained that platforms such as Netflix and Prime Video offer better opportunities for filmmakers. He described YouTube as a starting point where producers can independently upload their films, reach audiences and earn revenue based on viewership. The filmmaker said the platform’s current appeal is largely connected to the exchange rate and suggested that if the dollar were to fall to about N200 to one dollar, many producers could leave YouTube. He stressed that while YouTube provides an accessible route for filmmakers to distribute their work, its financial attraction for Nollywood producers could change if the naira becomes significantly stronger against the dollar.

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