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Rank	Producer	Tech startup
1	Gbenga Agboola	Flutterwave
2	Kola Aina	Ventures Partner
3	Olumide Soyombo	Voltron Capital
4	Ezra Olubi	Paystack
5	Odunayo Oweniyi, Somtochukwu Ifezue, Joshua Chibueze, and Somto Ifezue	Piggy Vest
6	Adesunbomi Plumptre	Volition Cap
7	Prosper Otemuyiwa, Nadayar Enegesi	Eden Life
8	Kola Oyenenyin	Opportunik Global Fund

Netflix to invest $2.5bn in new South Korea films and TV shows

Seoul: Netflix will invest $2.5 billion in South Korean content over the next four years, the streaming giant’s CEO Ted Sarandos announced after meeting with the country’s President Yoon Suk Yeol in Washington.

South Korea has cemented its status as a global cultural powerhouse in recent years, thanks in part to the explosive success of the Oscar-winning film “Parasite” and the hit Netflix series “Squid Game”.

“Netflix is delighted to confirm that we will invest USD 2.5 billion in Korea including the creation of Korean series, films, and unscripted shows over the next four years,” Sarandos said in a statement given to AFP Tuesday.

“This investment plan is twice the total amount Netflix has invested in the Korean market since we started our service in Korea in 2016.”

Sarandos said that Netflix had “great confidence” that South Korea’s creative industry would continue to tell great stories, pointing to the recent success of global hits such as “The Glory” and the reality show “Physical 100”.

“It is incredible that the love towards Korean shows has led to a wider interest in Korea, thanks to the Korean creators’ compelling stories. Their stories are now at the heart of the global cultural zeitgeist,” he added.

Over the last few years, South Korean content has taken the world by storm, with over 60 percent of Netflix viewers watching a show from the East Asian country in 2022, company data showed.

Netflix, which spent more than 1 trillion won ($750 million) developing Korean content from 2015 to 2021, had previously said it would be expanding its South Korean show output, without giving details of spending plans.

Yoon, who arrived in Washington Monday for a six-day state visit, hailed what he described as a “very meaningful” meeting with Sarandos, according to a transcript shared with AFP by the president’s office.

Yoon said the new investment “will be a great opportunity for the Korean content industry, creators, and Netflix. We sincerely welcome Netflix’s exceptional investment decision.”

Yoon’s is set to meet US President Joe Biden Wednesday, with his visit coming as the allies move to bulk up military cooperation over North Korea’s expanding nuclear threats.

Pyongyang has conducted another record-breaking string of sanctions-defying launches this year, including test-firing North Korea’s first solid-fuel ballistic missile this month — a key technical breakthrough for its military.

In response, Yoon has pulled South Korea closer to long-standing ally Washington, and the trip has a packed schedule including the summit with Biden, where the pair will celebrate 70 years of ties.

Yoon was also accompanied by more than 120 South Korean business leaders, including Samsung chairman Lee Jae-yong, and the visit could address their concerns over Biden’s Inflation Reduction Act.

Analysts have said that the trip going well is particularly important for Yoon, who is eager to boost his low domestic approval ratings especially in the realm of foreign policy.

April 25, 2023

The Growing Influence of Netflix on Nigeria’s Film industry

$23.6M Investment

283 Titles, 3 Originals.

Netflix has published a report outlining its significant socio-economic involvement on the African continent just six years after entering the African entertainment sector. The performance of Netflix in its three primary markets, South Africa, Nigeria, and Kenya, was highlighted in the study.

Also, it stated that between 2016 and 2022, Netflix invested $175 million in these markets or around $29 million each year of operation. Most of this investment ($125 million), which went toward 173 licensed films and 16 unique productions, went to South Africa.

Netflix invested $23.6 million in Nigeria to license 283 titles and commissioned three originals. The remaining $26.4 million is presumed to have been spent on licensing content from the rest of the continent, including two originals in Kenya, supporting various capacity-building initiatives, and on other operational or overhead costs for their Africa operations.

According to the report, Netflix’s presence and activities in the Sub-Saharan African region considerably affect four socioeconomic impact pillars. including funding economic activity that produced over 44 million dollars in tax revenue, over 12,000 new employment, 218 million dollars added to the GDP, and 200 million dollars more in higher household income.

The Nigerian Nollywood industry getting a new facelift

With a projected annual growth rate of 8.6% and a compound annual growth rate (CAGR) of 19.3% from 2018–2023, according to PwC Global Entertainment and Media Outlook for 2020–2024, Nigeria’s media and entertainment industry has the potential to become the nation’s largest export. However, in its early stages, the industry was very different from what we see today.

In the late 1990s and the early 2000s, the movie business still had trouble attracting devoted viewers. Without a doubt, the industry was already established, but it took a few years for it to experience a significant increase in social interaction due to the strong resurgence of cinemas, the introduction of televisions, and the production of films on VCD (video compact discs).

Given that they were located in well-known and busy malls, these theatres offered consumers a modified form of entertainment beyond watching movies and social connection. Fast-forward to the late 2000s, when technology came through, phones became widely used, and internet usage began to rise. The entertainment industry, like other sectors, wanted a piece of the technical gains that these developments brought. Of course, these have helped industries upgrade immensely.

The cinema industry apparently earned a record-breaking revenue of $1.72 trillion at the end of 2013, according to a report in the Guardian, despite the meagre financial backing that was at the time circulating in the sector. In 2016, Netflix made a tremendous leap of faith to explore the potential of the Nollywood sector.

The development of streaming services like Netflix, which has established itself as a major participant in the international entertainment market, has been one of the main drivers of Nollywood industry expansion up to this point and even beyond the local eyes to attract more global audiences.

However, it is unsure what the subscription numbers in Nigeria are as the company does not reveal its subscribers’ numbers for countries outside the US, but in 2019, TechPoint reported that Nigerian subscribers on the site are less than 50,000. However, according to QZ.com, the number of Netflix subscribers in Africa is projected to grow to 5.6 million by 2026.

Netflix’s contribution to Nollywood

Since entering the Nigerian Nollywood market in 2016, Netflix has committed $23.6 million to more than 250 locally-produced, co-produced, and commissioned video content. Blood Sisters, the first Nigerian Netflix original, achieved a significant milestone when it was ranked as one of the top 10 TV programs in the world by Netflix. According to a Pulse report, the series, which debuted on May 5, climbed to the ninth position with 11 million views in its first week.

Three additional noteworthy Netflix originals that have achieved considerable success and significant media attention are Far From Home, Shanty Town, and King of Boys. This has given the Nollywood industry more exposure and helped it gain a global audience while showcasing local content.

This shows that Netflix’s investment of more than USD 23 million has significantly impacted the Nigerian economy.

This investment has produced USD 2.6 million in tax revenue, USD 34 million in household income, and USD 39 million in GDP through direct, indirect, or expenditure effects on the economy. Overall, the economy helped over 5,140 jobs in the country.

These represent enormous victories for the sector. In addition to these production investments, the major streaming service has, over the years, led numerous initiatives to advance the industry in Nigeria. In 2021 and 2022, it worked closely with the Nigerian Film and Video Censors Board to support the government’s efforts to create efficient legislative and regulatory frameworks appropriate for digital entertainment.

Netflix and its challenges in Nigeria

While these signify growth for the streaming giant and the continent at large, some limitations have been obstacles along this pathway to success.

Lack of talent

If the Sub-Saharan African entertainment business wants to compete confidently in the global market, a vast treasure of talent must be unearthed. The report claims a lack of training and insufficient exposure to global prospects limit talent. However, working on a Netflix series gives regional creatives international visibility.

The financial considerations may prevent many talented people from participating in projects. This has caused the streaming giant to invest in workshops, training, and commitment pledges.

Financial constraint

Speaking of budgetary limitations: it has been reported that the government offers minimal assistance to the entertainment sector. Actor and former National Caretaker Committee Chairman of the Actors Guild of Nigeria (AGN) Steve Eboh bemoaned the lack of government support for Nollywood in an interview from 2019 that the Nigerian Tribune cited.

Although the report further explained that few countries offer financial support to filmmakers and TV producers, private funding is equally limited, diminishing the potential for high-quality productions.

These are some of the challenges that limit the industry from evolving even with Netflix’s support.

April 20, 2023

Netflix to Introduce Gaming Services to Television Sets

The streaming giant Netflix Inc is taking steps to incorporate its video-game service into television sets. The service is available on smartphones and tablets, but code hidden within Netflix’s app includes references to TV games, Bloomberg reports.

The move is one of the company’s plans to expand its ambitions. Last year, its gaming chief disclosed that it was “seriously exploring” its cloud gaming service and currently, its mobile games are available on the App Store. The company’s plans for TV gaming are undisclosed, but the code also mentions using phones as video game controllers.

As seen by Steve Moser, an app developer, one line in the code reads, “A game on your TV needs a controller to play. Do you want to use this phone as a game controller?” This might denote that there could be an option of using smartphones as controllers if Netflix incorporates games into its television app.

All to know about Netflix’s games

The entertainment service company introduced video games into its offerings two years ago. With over 55 games on its program, it plans to launch 40 new games on mobile devices this year in its bid to expand its foothold in the gaming industry. The company also plans to collaborate with several developers in producing more than 70 games for the platform.

Games on its platform are available on Android devices and IOS. The activation only requires the download and installation by users or interested parties. However, this can only be accessed with an active account subscription. If the test is successful, new and returning subscribers may opt to play more games on the platform, as television sets will offer a more convenient view of the gaming experience.

According to the entertainment industry, it affirmed that the TV gaming experience would be intentional, with Protocol reporting it would be “more than just casual games.” It revealed the creation of a new gaming development studio, with a lot of hard work behind closed doors.

The company said Tuesday, as part of its earnings release, that fourteen of the new games are being built by Netflix’s own studios, adding that the company was going to launch an additional studio in Southern California soon. The studio will be led by Chacko Sonny, who previously served as executive producer for Activision Blizzard’s Overwatch franchise, according to a Netflix spokesperson.

March 31, 2023

Netflix Announces Subscription Reduction for Nigeria and Other Sub-Saharan African

Netflix has announced a reduction in its monthly subscription fees for Nigeria and other countries in the sub-Saharan region of Africa, effective February 21. The streaming giant says the goal is to ensure its customers get greater value for their money.

On Tuesday, Netflix announced the new prices of subscription plans in Sub-saharan Africa. They stated that their mobile plan would now be about $3, while the Premium plan would cost just under $10.

The statement reads:

“We’re always exploring ways to improve our members’ experience on Netflix. We know members have never had more choices when it comes to entertainment — and we’re more committed than ever to delivering an experience that doesn’t just meet, but exceeds their expectations.

Today, we’re updating the pricing of our plans to Mobile $2.99, Basic $3.99, Standard $7.99 and Premium $9.99 in select Sub-Saharan countries [where Netflix is charged in USD] to deliver all your favourite TV shows and movies at an even better value!

The price update will also apply to Kenya, where Mobile will be Ksh200, Basic Ksh300, Standard Ksh700, and Premium Ksh1 100. Our goal is simple: to offer various quality shows and films curated for you. So whatever your mood or tastes, you can find something right to watch.

New members who sign up will see the new price for the plans immediately starting [date]. The update will roll out to existing members over the coming weeks from their next billing cycle. Existing members will be notified by email, [as well as within the Netflix app 30 days before the new prices are applied to them (this is only for auto-upgrades)]. The exact timing will depend on the specific member’s billing cycle.”

	MOBILE		BASIC		STANDARD		PREMIUM
	OLD	NEW	OLD	NEW	OLD	NEW	OLD	NEW
KENYA	300	200	700	300	1,100	700	1,450	1,100
SUB-SAHARAN AFRICA	3.99	2.99	7.99	3.99	9.99	7.99	11.99	9.99

Netflix’s new pricing for Africa

Video streaming giant Netflix has been exploring strategies to increase subscribers’ numbers over its major competitors like Disney+. Last year, in its October 18 earnings letter to shareholders, Netflix disclosed that it managed to double its growth projections, bringing its total number of users to 223 million.

One of the strategies includes the plan to launch a cheaper, ad-supported plan.

The decision to lower the subscription cost in Sub-Saharan Africa may not be unconnected with that same desire to increase the platform subscribers while also achieving the aim of giving more value to its customers.

The new prices show that Sub-Saharan African subscribers who are subscribed to its mobile plan would be paying $1 less than what they used to, while subscribers to its basic plan would be paying $4 less. Its standard and premium subscribers would be paying $2 less, respectively.

The new pricing in Kenya and Sub-saharan Africa may cause subscriptions to the streaming platform to further increase in the first quarter report, which will be released in the coming months. This strategy may see it beat its competitors, such as Amazon Prime Video, Disney+, HBO/HBO Max and Hulu, who are ramping up their subscriber numbers to give Netflix a run for its money.

How do the new prices compare to other regions?

Comparitech, a data research company that has regularly analyzed the differences in library sizes and monthly costs of Netflix subscriptions worldwide, released detailed data on the disparity in prices of Netflix subscription plans in various countries last month. The report revealed a disparity in the amounts payable by each country.

According to the report, recent months have seen Netflix hit various countries with price hikes, including the US, Canada, the UK, Ireland, Argentina, Turkey, and Denmark (most of which saw similar price increases in 2021, too). In sharp contrast, however, Netflix recently announced it was slashing its prices in India to compete with Disney+ and Prime. And from November 1, 12 countries can now opt for a cheaper subscription with adverts.

This is coupled with the new development in Kenya and Sub-saharan Africa. From the below image, Red depicts an above-average cost or below-average library size, while green depicts a below-average cost or above-average library size.

Netflix Data 2022: Cost per Title by Country & Plan

From the above, countries like Bahrain, Belgium, Bermuda, Bolivia and Andorra pay above the average cost prices for all plans. While countries like Brazil, Chile and Argentina pay below the average cost for all plans. This shows a unique disparity between South American countries and some European countries.

A quick look into the African data shows that subscriptions in countries like Egypt, Morrocco, Libya, Algeria and Tunisia show a disparity in cost. For some of these countries mentioned, the average cost is lower for some plans, while the cost is higher for others. See the full data here.

Netflix Data 2022: Cost per Title by Country & Plan

According to the data, due to their incredibly cheap prices across all three plans (without ads), Pakistan, India, and Turkey are the most cost-effective countries to watch Netflix in. But with their near-average library sizes, Pakistan and India offer the best value for money. With library sizes of 5,974 and 6,086 titles (compared to the average of 6,029 and Turkey’s 5,512), these two countries seem to get more while paying less.

Netflix Data 2022: Cost per Title by Country & Plan

The idea that you get more while paying less was iterated with careful observation of the countries with the biggest library sizes and their cost per month.

The central, eastern, and northern European countries of Slovakia, Bulgaria, Lithuania, Estonia, and Latvia have access to the most titles (over 7,500 titles each) at a cost per month of €7.99, €9.99, and €11.99 for basic, standard, and premium plans. This sees them featuring within the top 20 countries for cost-effectiveness across all three plans.

At the other end of the scale are Liechtenstein, Israel, and Switzerland, where none of their plans is cost-effective.

With its library size being just below average (5,982) and its cost per month being well above average, Liechtenstein is the least cost-effective for basic, standard, and premium plans. Its cost per title is $0.00203, $0.00162, and $0.00106, making it around double the average cost. Switzerland shares the same price as Liechtenstein, but its above-average library size of 6,759 titles makes it slightly better on a cost-per-title basis.

Other reviews by Netflix

Last year, Netflix launched its advertising-supported streaming plan dubbed “Basic with Ads” at $7 monthly.

The subscription tier costs $6.99 per month, $3 cheaper than Netflix’s $9.99 most Basic plan and is set to include 4 to 5 minutes of ads per hour. The plan came with some limitations as viewers won’t be able to download shows for later viewing, Netflix said.

The company also stated that a “limited number” of movies and TV episodes would not be accessible on the ad-supported tier, blaming licensing limitations and stating that it was “working on” the problem.

Also, some weeks ago, the streaming platform launched two new features – spatial audio and more download devices- for users already on the Premium plan. or looking to sign up/upgrade. These features come with no additional cost for these members.

In a statement from Rishu Arora, Netflix’s Director of Product Management, the streaming giants explained that the viewing experience of premium users had been optimised with 4k HDR resolution. She said,

Today, we’re excited to announce new features at no additional cost for members who are already on the Premium plan, choose to upgrade, or are signing up for the first time.

ishu Arora, Netflix’s Director of Product Management made the announcement via a company blog post.

Queen Charlotte: A Bridgerton Story, Young, Famous & African season 2, Luther: The Fallen Sun, Murder Mystery 2, Extraction 2, as well as recently released titles like Glass Onion: Knives Out, Wednesday, Roald Dahl’s Matilda the Musical, Wednesday, Emily in Paris, Guillermo del Toro’s Pinocchio, The Witcher, are among the fantastic upcoming TV and film offerings on Netflix in the coming months.

February 22, 2023

Netflix Limits Account Sharing in Four More Countries

Netflix has announced it is introducing limits on password sharing in four more countries: Canada, New Zealand, Portugal and Spain.

Customers in those countries are being asked to pay an extra fee if they want friends and family who don’t live with them to share their subscription.

The move follows a crackdown on password sharing in South America.

The media giant estimates 100 million people around the world use shared accounts.

The hit to revenues from the shared accounts was affecting Netflix’s ability to invest in new programming content, the firm said. It has said it is planning to extend the new approach to more countries in coming months.

“Over the last year, we’ve been exploring different approaches to address this issue in Latin America, and we’re now ready to roll them out more broadly in the coming months, starting today in Canada, New Zealand, Portugal and Spain,” it said in a blog post on Wednesday.

Up until now it has been easy for subscribers to share their login and password with friends outside their home.

Back in 2017 Netflix even appeared to be sanctioning the practice when it tweeted “Love is sharing a password”.

But growing competition in the streaming market, and customers cutting back on subscriptions due to the rising cost of living, have prompted Netflix to focus on shoring up its revenues.

The firm said that allowing accounts to be used by several people within households had “created confusion” about when and how people could share.

It said members in Canada, New Zealand, Spain and Portugal would now be asked to set up a “primary location” for their account and manage who has access to it.

Members would still be able to watch Netflix when they travelled, both on personal devices and logging in in other places, for example in a hotel, it said.

For CAD$7.99 (£4.92) Canadian subscribers can add up an extra member as a “sub account” the blog said, with a maximum of two sub accounts per subscription.

The fee would be similar in New Zealand at NZ$7.99 (£4.17). There would be a price difference for sub accounts between Portugal at €3.99 (£3.54) and Spain at €5.99 (£5.32).

Netflix chief operating officer Gregory Peters last month acknowledged that the changes would not be “universally popular” and warned investors to expect some cancellations.

He said the firm expected to eventually make up those losses.

In the first half of 2022, Netflix saw its subscriber numbers fall sharply. It cut hundreds of jobs and put up prices to cover rising costs.

In November, it introduced a cheaper ad-supported option in 12 countries, including most of Europe, the UK and the US.

February 9, 2023

Netflix founder Reed Hastings steps down as co-CEO

Netflix founder and co-CEO Reed Hastings announced Thursday that he would step down after more than two decades at the company.

While news of his departure comes as a shock, Hastings noted that Netflix has planned its next era of leadership “for many years” in the announcement, which was shared on the company’s blog.

In 202, Netflix named Ted Sarandos who has long led content efforts at the company, as co-CEO alongside Hastings. At the time, Netflix characterized the change as formalizing the way that the company was already operating.

Netflix will maintain the co-CEO structure in Hastings’ absence, promoting COO Greg Peters to the tandem role with Sarandos.

“It was a baptism by fire, given COVID and recent challenges within our business,” Hastings said of Sarandos and Peters taking the reins.

“But they’ve both managed incredibly well, ensuring Netflix continues to improve and developing a clear path to reaccelerate our revenue and earnings growth. So the board and I believe it’s the right time to complete my succession.”

Hastings will stay involved with the company as executive chairman of the board, following a precedent shared by other prominent major tech company founders, including Amazon’s Jeff Bezos and Microsoft’s Bill Gates.

The news came shortly before Netflix reported its fourth-quarter earnings. The company beat expectations in Q4, adding 7.7 million subscribers — well over the 4.5 million it anticipated. The company brought in $7.85 billion during the final quarter of 2022, extending its recent trend of slowing revenue growth.

Netflix credited the popularity of content it released in Q4 for the huge subscriber boost, including the “Addams Family” reboot “Wednesday,” the stand-alone “Knives Out” sequel “Glass Onion” and the royals documentary “Harry & Meghan.”

Like most of tech, Netflix’s stock price has fallen well short of previous pandemic highs over the last year, but the company did recover from its midyear lows of $180 a share, trading at $315 before its Q4 report hit late Thursday.

The company introduced an ad-supported subscription tier in November and Thursday’s report offered the first real glimpse into how that new product might shift the company’s fortunes now that streaming’s early pandemic boom times are over. In the report, Netflix called the launch of its lower-cost ad-supported tier a success for Q4 but noted that it had “much more still to do” around the new product.

At CES earlier this month, a Netflix ad executive noted the range of advertisers that the company has already attracted describing that as a boon for consumers who are eager to offset their monthly costs with a Hulu-like ad-supported subscription.

January 20, 2023

We Invested N9bn in Nigeria Film Industry in 6 years – Netflix

Ms Shola Sanni, Director of Public Policy for Sub-Saharan Africa, Netflix, made this known at the second Nigeria Digital Content Regulation Conference held in Lagos.

The two-day event had in attendance stakeholders in the local and international streaming services, independent producers, Free-To-Air, Pay TV Operators, Telcos, content creators and other operators in the film industry.

Sanni stated that this was done through converting local film titles, capacity building and infrastructure development in the industry.

She noted that Netflix had invested in over 200 local licensed titles, co-produced and commissioned original film content.

According to her, 125 films and TV series are available on Netflix as at November 2022.

The Netflix official said the streaming service was investing heavily to ensure that all subscribers across the world enjoyed the same content at will.

“We love Nigeria and believe in it and that is why we are investing in the Nigeria film industry to entertain Nigerians and the world, with the best-in-class stories from the country.

“We are poised to tell stories that are not only interesting in Nigeria, but in other 189 countries where Netflix is present,” she said.

In his welcome address, Executive Director, National Film And Video Censors Board (NFVCB), Alh. Adedayo Thomas, said the conference was an avenue to discuss regulations in the film industry, with focus on streaming services.

Thomas stated that the conference which started in 2021, was geared toward beginning balance and equity to the ecosystem especially with the disruption of the digital era.

November 12, 2022

Mix Reactions tray Netflix Launch of $7 Per Month Ad-Supported Plan

Internet users have reacted to Netflix’s decision to launch its advertising-supported streaming plan dubbed “Basic with Ads” on Thursday at $7 a month.

The new subscription tier costs $6.99 per month, $3 cheaper than Netflix’s $9.99 most Basic plan and is set to include 4 to 5 minutes of ads per hour. The plan also comes with some limitations as viewers won’t be able to download shows for later viewing, Netflix said.

The company also stated that a “limited number” of movies and TV episodes would not be accessible on the ad-supported tier, blaming licensing limitations and stating that it was “working on” the problem.

Netflix gained over 2 million subscribers in Q3 in the face of competition

The platform recently increased its number of paid subscribers by 2.41 million in the third quarter of the year, which may be considered a massive win for the U.S. streaming giant, which lost over a million subscribers in the first and second quarters.

The program will begin one month before Disney +, a competitor streaming service, introduces its ad-supported streaming tier, going up against other ad-supported platforms like Hulu and Peacock.

We think it is a revenue move by Netflix.

Though Netflix prides itself as the pioneer in the streaming service space, the company faces a huge threat from competitors such as Amazon Prime Video, Disney+, HBO/HBO Max and Hulu. They are ramping up their subscribers and giving Netflix a run for its money.

Recently, Disney+ overtook Netflix in total subscribers after its total subscriptions reached 152.1 million at the end of Q2, exceeding the 147 million mark predicted by analysts. The company also added 14.4 million Disney+ customers, beating the expected 10 million additions in July.

Disney beats Netflix in the streaming war for subscribers. Photo Credit: Multiverso Noticias

Now, the company has a total of 221 million subscribers- combined with Hulu and ESPN+ (Hulu has 46.2 million subscribers and ESPN+, has 22.8 million).

On the other hand, according to a report by Technext, Netflix’s stock price dropped by 35 per cent (%) in April, erasing $50 billion from the company’s value. Earlier, Netflix’s total revenue for the first quarter of 2022 increased nearly 10% to $7.87 billion, falling short of analysts’ expectations of $7.93 billion.

Notwithstanding, the company increased its number of paid subscribers by 2.41 million in the third quarter of the year, in what may be considered a massive win for the U.S. streaming giant which lost over a million subscribers in the first and second quarters.

In its October 18 earnings letter to shareholders, Netflix disclosed that it managed to double its growth projections, bringing its total number of users to 223 million.

That feat may not be unconnected to the company’s decision to introduce the lower-priced ad-supported subscription plan for consumers in partnership with Microsoft.

The new subscription tier launch is also coming when Netflix is preparing to crack down on password sharing on its platform. Next year, Netflix will require users who borrow accounts to create their own. Additionally, users who share passwords can pay an additional fee to add friends and family to their accounts.

Reactions have started trailing the launch of the new subscription plan. Some netizens believe that this development would help the streaming platform increase the number of subscribers.

Some internet users have expressed dissatisfaction that major platforms have begun to insert so many ads into their content lately, going back to the old TV age.

See another reaction

What’s different with the ‘Basic With Ads’ plan?

With 223 million customers, Netflix is still the most popular streaming service in the world, having reversed subscriber losses earlier in the year thanks to a midsummer sign-up boom.

However, Ads have never been a part of the 15-year-old streaming service until the business changed course six months ago following a turbulent start to 2022 that saw viewership decline.

Netflix is betting the lower-priced ad-based service will prove popular at a time when high inflation is pressuring millions of households to curb their spending. The company, which faces mounting competition from Amazon, Apple and Walt Disney Co., has also started adding video games to its lineup at no added cost.

November 5, 2022

Why Anikulapo is Bigger Than Game of Thrones – Kunle Afolayan

According to the Director, Anikulapo was initially conceived to be a series, but was later chopped into a movie following the instruction by Netflix, who also promised to pursue a series if the movie became a success.

Afolayan added that he was convinced the movie would achieve a bigger acclaim than the HBO classic, Game of Thrones.

He made this known in an interview with Guardian UK published on Friday, October 28, 2022, where he also revealed that he has been working on Anikulapo for six years.

The filmmaker said: “I’ve been working on Aníkúlápó for six years. Originally, I wanted to make a series, but I shopped it and kept telling people that this movie would be bigger than Game of Thrones.

“Eventually, Netflix told me to make a movie first since I believed in the project that much, and if it became a success, we’d develop a series.”

Recall that Afolayan recently announced that a spin-off series from the Netflix film will begin pre-production soon.

The filmmaker also expressed surprise over the level of success the movie has achieved, adding that Netflix is now putting pressure on him to start making the series.

Afolayan’s word: “Right now, Netflix is the one urging me to start making the series. I knew we made a great film and that it’d start conversations, but I didn’t know it’d do as well as it has done.”

Set in the ancient Oyo empire, Anikulapo follows an ambitious young man’s quest for fame and fortune. The Netflix original starring Kunle Remi, Bimbo Ademoye, Shola Sobowale and an enviable list of veteran Yoruba-language film stars, debuted on October 1, to instant acclaim from critics and film lovers.

The film also maintained an impressive top 10 spot in over five countries including the United Kingdom, Kenya, Nigeria and the Bahamas.

October 30, 2022

Netflix Stock Jumps 16% in its Q3 Earnings

Netflix shares jumped as much as 16% on Wednesday, after the streaming giant’s third-quarter earnings beat Wall Street’s revenue and profit forecasts. The stock surge added about $17 billion to Netflix’s market capitalization, lifting it to $124 billion.

Netflix shares surged as much as 16% adding $17 billion in market value.

The video-streaming titan beat Wall Street’s forecasts for revenue and profit in the third quarter.

Netflix added 2.4 million subscribers after shedding 1.2 million in the first half of this year.

The company added 2.4 million subscribers globally, it said in its earnings report published after the market close Tuesday. That growth in its base comes after two straight quarters of declines.

Netflix benefited from the release of several popular shows in the period, including “Monster: The Jeffrey Dahmer Story” and the fourth season of “Stranger Things.”

The online-video service posted a 5.9% increase in revenue to $7.9 billion, but higher operating costs meant its net income shrunk by 3.5% to $1.4 billion. Analysts polled by Refinitiv had expected $7.8 billion and $959 million respectively.

Netflix’s quarterly subscriber growth came in more than double its forecast of 1 million, after it lost 1.2 million members in the first half of this year. The company ended the period with 223 million subscribers, and guided towards another 4.5 million subscriber additions this quarter.

“Thank God we’re done with shrinking quarters,” co-CEO Reed Hastings said during Netflix’s earnings call on Tuesday.

The return to growth signals Netflix could be holding its own against Disney Plus, Apple TV, HBO Max, and other rivals. However, questions remain about how successful Netflix’s launch of an ad-supported content tier will be, and whether the company will manage to crack down on password sharing as planned.

Billionaire investor Bill Ackman built a billion-dollar stake in Netflix earlier this year, only to dump it three months later at a $400 million loss.

But the Pershing Square boss has explained he had doubts about the size of Netflix’s potential market, given the number of people using the service without paying. Also, he lost confidence in his estimates of the company’s future cash flows with advertising in the mix.

Netflix shares are still down about 54% this year, representing a roughly $140 billion decline in market value.

October 20, 2022

Nollywood Film, Anikulapo Ranks No.1 Globally on Netflix

Anikulapo, a Netflix original movie produced and directed by veteran actor, Kunle Afolayan, is currently topping the Netflix weekly global chart as the most viewed non-English Netflix original movie.

Since its release just 11 days ago, a weekly top 10 list of the most watched movies by Netflix, showed that Anikulapo had been viewed for 8,730,000 hours between October 3 and October 9, 2022. A statement from Kunle Afolayan Production on Wednesday, confirms.

The movie, which was set in the pre-colonial era of the 17th century old Oyo Empire, tells the story of a sojourner who finds his way to Oyo in search of greener pastures, where he at first finds favor, but later finds love in a forbidden place.

The movie featured A-list actors like Kunle Remi, who played the main character Saro, alongside Bimbo Ademoye, who played the role of Queen Arolake, Sola Sobowale, Mr. Macaroni, Hakeem Kae-Kazim, Taiwo Hassan, Oga Bello among others.

The producers had said the acceptability of the movie was prove that the film resonated with people from diverse cultures all over the world.

The statement read, “While this is being celebrated by Nigerians home and abroad, the acceptability of it from people around the world with different cultural background and beliefs proves beyond words that Anikulapo tells a universal story that every human across the world can relate to.

“It is also noteworthy to state that the movie in a great way creates an inclusiveness of both male and female character traits, bringing to light the fine thin line between lust and love, hate and resentment, illusion etc.”Afolayan, on his Instagram page thanked the movie fans for their referrals and reviews.

He said, “Congratulations to us all and thanks to you guys out there for the reviews and referrals.”

This comes just few days after the Nigeria Oscars selection committee disqualified Anikulapo from the nomination list of the Academy Awards, better known as the Oscars.

October 14, 2022

Google To Close Stadia Cloud Service and Refund Gamers

Google has announced plans to shut down its Stadia cloud gaming service and refund players.

Stadia was touted as Netflix for games when it launched in November 2019, allowing players to stream games online without owning a console.

But the service will now come to an end on 18 January 2023 because of a lack of “traction” with gamers.

Google has promised refunds to players who purchased its Stadia controller, as well as any games or add-on content.

It said it estimates those refunds will be completed by mid-January.

Stadia games run on servers at Google data centres around the world, with the video footage streamed to a TV or mobile device.

Phil Harrison, vice-president and general manager of Stadia, said in a blog post: “A few years ago, we also launched a consumer gaming service, Stadia.

“And while Stadia’s approach to streaming games for consumers was built on a strong technology foundation, it hasn’t gained the traction with users that we expected so we’ve made the difficult decision to begin winding down our Stadia streaming service.”

Google is pretty ruthless about culling products that don’t work out – head to the website Killed by Google and you can immerse yourself in a long list of dearly departed Google brands (many of which you’ve probably never heard of).

Stadia launched to great fanfare in 2019 and was clearly Google’s attempt to muscle in on the lucrative gaming market.

Stadia went beyond simply streaming games and even came with its own bespoke hardware.

But taking on the games giants is tough – even when you’re a giant in your own right. What works for Xbox and PlayStation is difficult to replicate when their customers have already shelled out on consoles and subscriptions – and the firms behind them, Microsoft and Sony, have lucrative deals in place with the world’s biggest games publishers.

It’s perhaps no huge surprise that Phil Harrison said Stadia hadn’t “gained the traction” that Google anticipated – marketing speak for “not enough bums on seats”.

September 29, 2022

Netflix To Unveil Its Own Video Game Studio

Netflix is setting up its own video game studio, as it intensifies its efforts to establish itself in the gaming industry.

Based in Helsinki, Finland, it will be led by former Zynga and Electronic Arts executive Marko Lastikka.

Netflix has previously purchased small gaming companies, such as Oxenfree developer Night School Studio.

But the streaming giant is now going further and creating a studio from scratch.

Lastikka is an established figure in gaming, having co-founded Zynga studio – also in Helsinki – which worked on FarmVille 3 under his leadership.

Amir Rahimi, Netflix VP of Game Studios, announced the “vision to build a world-class games studio” in a blog post.

“[It] will bring a variety of delightful and deeply engaging original games, with no ads and no in-app purchases.”

In April, Netflix announced a loss of 200,000 subscribers, it first quarterly loss since 2011. Its share price dropped by 35%, wiping more than $50bn (£46.5bn) off the firm’s market value.

Netflix then lost almost a million subscribers between April and July 2022, the biggest in its history, though it still has more than 220m subscribers worldwide.

Why Helsinki?

Netflix purchased Helsinki-based Next Games in March 2022. It already had a working relationship with the game developer, which made a mobile game based on the Netflix hit series, Stranger Things.

At the time, Next Games was described as “a core studio in a strategic region and key talent market”, by Netflix VP of Games Michael Verdu.

Gaming researcher Annakaisa Kultima, who lives in Helsinki, told the BBC that this acquisition would have played a part in Netflix’s decision.

“They know how Helsinki works,” she said, “and how the development culture works in Finland.

“There are hundreds of games published on a daily basis on the app stores, so in order to really make it there, you have to have the critical knowledge of how to make it happen.

“We have the reputation of doing pretty well for the past decade or two in the game industry, but games are not labelled where they were made.

“From that perspective, I think that’s the reason, they know that talent is based in Finland – [Clash of Clans developer] Supercell is in Helsinki in the city centre, and [Angry Birds developer] Rovio Entertainment and [Control developer] Remedy Entertainment are in Espoo, which borders the city.”

Just for mobile?

Netflix has had a growing interest in the gaming industry in recent years.

It has released several series based on games, such as Arcane (based on League of Legends) and Cyberpunk: Edgerunners (based on Cyberpunk: 2077).

Netflix is also working closely with Ubisoft, which will see both a live-action Assassin’s Creed television series developed, and a Netflix-exclusive mobile game.

It is unclear whether the Netflix studio intends to develop games exclusively for mobile, or if it will also target the home console market.

Eric Seufert, an independent industry analyst, said he thought Netflix is making “pretty substantial investments” into the gaming industry.

“If they want to utilise a lot of the IP that they have, they probably have to build a lot of those games themselves,” he said, “because working with external publishers on IP licencing deals becomes very tedious and complex.

“They have so much data on customer preferences on the video-streaming content side, my sense is they can probably bring some of that to bear.

“I think ultimately what they want to do is utilise these games as part of the product content package, and then funnel into the Netflix universe.”

September 29, 2022

5 Most Rated Nollywood Films on Netflix

Since the expansion of the sugar daddy of streaming services; Netflix, to the Nigerian terrain, there has been a shift in paradigm as the streaming platform created a new wave for video-on-demand platforms in Nigeria.

Netflix Naija is a subsidiary of the larger chasm of the platform and its focus is to serve Nigerians; both home and in diaspora with contents that are Nigerian.

1. Omo Ghetto: The Saga

Being the sequel to the 2010 Omo Ghetto franchise, Omo Ghetto: The Saga opened up to warm reception and we can’t help but understand why. The prequel is amazing and the sequel brings an objectively good dose of premium entertainment.

Omo Ghetto: The Saga landed on Netflix on the 10th of September, 2021 after its theatrical runs in 2020.

Omo Ghetto remained as part of the top 10 for a record breaking 132 days making it Netflix’s most watched Nollywood title of all time with a total streaming 81,435,736.

Apart from being the highest rated Nollywood movie, the movie grossed over 635 million box returns. Making it the highest-grossing Nollywood film in history.

Funke Akindele-Bello plays the dual role of Lefty and Ayomide in 'Omo Ghetto' (The Saga) [Instagram/funkejenifaakindele]

2. Lionheart

Being the first Nigerian film to get on the streaming platform, one can be sure that this movie did something right. Till today Lionheart maintains a rating of 100% on Rotten Tomatoes.

It is also the first Nollywood film to get selected for the Academy Awards in the best international film category. However, it was rejected for the exclusive use of native language.

Tessa Cagie, a top critic on Rotten Tomatoes, while commenting on Lionheart says that: “Lionheart is not only groundbreaking, it’s a lighthearted, feel-good movie about both family values and feminism that’s an enjoyable watch for the whole family”.

3. King of Boy: Return of the King (Mini-Series)

After months of teasing and winding, the highly-anticipated King of Boys: The Return of the King, written and directed by Kemi Adetiba was released on Friday, August 27, 2021.

While we are not talking about mini-series in this article, it is impossible to ignore King of Boys: The Return of the King because of its achievements on the streaming platform. The mini-series continued to find its way to the list of top 10 movies on the platform for 7 consecutive weeks.

King of Boys: The Return of the King teaser poster [Netflix]

4. A Naija Christmas

This is the first Nigerian film that is exclusively about the holiday season. Or maybe it’s just the most prominent one. Directed by Kunle Afolayan, A Naija Christmas is a Romance Comedy with its focus on family and love. A Naija Christmas remained on Netflix’s top 10 movie for a total of 49 days

The late Rachael Oniga passed away during the production of the movie, forcing production to complete her scenes using CGI.

5. Gone

Made in 2018, the movie screened at Calgary Film Festival and some selected cinemas before having its VOD release on Netflix.

This is a story of a boxer in search of greener pastures. He ends up being plagued by unhappiness and returns to find his family after twenty five years

September 26, 2022

Rank	Company	Videos published	Total video views on TikTok	Hashtags
1	Disney	6,151	79,232,246	44,177
2	Netflix	1,384	13,475,808	4,635
3	Amazon	725	5,918,017	17,278
4	Tesla	739	2,015,286	1,898
5	Walmart	297	4,733,581	2,570
6	Costco	333	5,928,615	1,385
7	Microsoft	312	1,950,336	1,944
8	3M	315	1,653,844	2,000
9	Nike	245	1,308,044	1,225
10	Starbucks	165	1,714,216	725

Tag: #netflix

South Africa – $178 million

Nigeria – $39 million

Kenya – $1 million+

$23.6M Investment

283 Titles, 3 Originals.

The Nigerian Nollywood industry getting a new facelift

Netflix’s contribution to Nollywood

Netflix and its challenges in Nigeria

All to know about Netflix’s games

Netflix’s new pricing for Africa

How do the new prices compare to other regions?

Other reviews by Netflix

Ms Shola Sanni, Director of Public Policy for Sub-Saharan Africa, Netflix, made this known at the second Nigeria Digital Content Regulation Conference held in Lagos.

We think it is a revenue move by Netflix.

What’s different with the ‘Basic With Ads’ plan?

Why Helsinki?

Just for mobile?

1. Omo Ghetto: The Saga

2. Lionheart

3. King of Boy: Return of the King (Mini-Series)

4. A Naija Christmas

5. Gone