‘Filmmakers Are Rushing to YouTube Because of Dollar Rate’ — Kunle Afolayan

Nigerian filmmaker and actor Kunle Afolayan has explained why more Nollywood filmmakers are moving their movies from cinemas and traditional television to YouTube.

Speaking during a recent interview on the Nidacity Builders Podcast, Afolayan attributed the growing shift largely to the exchange rate between the naira and the US dollar.

According to the filmmaker, dollar-denominated earnings from YouTube have made the platform increasingly attractive to Nigerian producers seeking to monetise their films.

“Nigerian filmmakers are rushing to YouTube because of the dollar exchange rate. At N1,400 to $1, they celebrate 1 million views because it can bring in about $10,000. But if the dollar falls to N200, everyone will run away from YouTube,” he stated.

Afolayan argued that the financial incentive could be a bigger factor behind the migration than a long-term preference for YouTube as a distribution platform.

He noted that YouTube does not offer the same opportunities as major streaming platforms such as Netflix and Prime Video but remains more accessible to filmmakers who lack the connections or bargaining power to secure major streaming deals.

“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, if you don’t have access to the big players, then make your film, open an account and put it there. If people watch it, you make your money,” he said.

His comments come amid a growing trend of Nollywood filmmakers releasing movies directly on YouTube, allowing them to reach large audiences while earning from digital advertising and monetisation.

Afolayan’s remarks have also renewed discussions about whether YouTube’s growing popularity in Nollywood is driven mainly by changing audience habits or the financial advantage created by the naira’s weakness against the dollar.