Dollar rate driving filmmakers to YouTube, says Kunle Afolayan

Dollar rate driving filmmakers to YouTube, says Kunle Afolayan Filmmaker and actor Kunle Afolayan said the current dollar exchange rate is the main reason many Nigerian filmmakers are moving their content to YouTube. Afolayan made the statement during an interview with former Minister of Finance Kemi Adeosun on the Nidacity podcast, released on YouTube on Tuesday, where he discussed distribution options for Nigerian films and the economics behind platform choices. According to him, while YouTube may not offer the same revenue potential as global streaming giants like Netflix and Amazon Prime, it remains the most accessible option for many producers. He described YouTube as a 'starting point' for filmmakers who lack the capacity to negotiate deals with major platforms or lack direct access to them. 'YouTube can never give what Netflix and Prime would give you, but it is the most flexible. It is for everyone. It is like a starting point. If one doesn't have the strength to negotiate or access to the big players, then you fall back to YouTube,' he said. Afolayan explained that the weak naira has made YouTube earnings more attractive. He noted that hitting 1 million views on the platform can generate about $10,000, which translates to significant naira value at the current exchange rate. However, he warned that the rush to YouTube is largely tied to forex conditions. 'The reason filmmakers are rushing to YouTube is because of the dollar exchange rate. 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 added. These comments come amid a surge in Nollywood content on YouTube, as producers increasingly opt for direct-to-YouTube releases to capitalise on ad revenue and audience reach.