LAGOS, Nigeria(VOICE OF NAIJA)- Nigerian filmmaker Kunle Afolayan has shed light on the growing move by local filmmakers to YouTube as an alternative platform for releasing their movies.
Afolayan linked the trend to the value of the naira against the US dollar, stating that the current naira-dollar exchange rate has made the video sharing platform financially attractive.
He argued that filmmakers can make significant returns when their content attracts a large number of views.
Speaking during a recent interview, the filmmaker explained that with a dollar exchanging at roughly N1,400, a movie or video that reaches one million views could generate around $10,000.
“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,” he said.
Although earnings may vary based on several factors, Afolayan said the possibility of earning dollar-based revenue is one of the major reasons filmmakers are increasingly choosing YouTube to distribute their productions.
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He, however, noted that the situation could change if the naira strengthens significantly against the dollar.
“If the dollar falls to N200, everyone will run away from YouTube,” Afolayan added.
The filmmaker added that the appeal of the platform is largely driven by the money filmmakers can make from international advertising revenue.
Afolayan has previously been outspoken about the financial side of Nigeria’s movie industry.
Earlier this year, he questioned the value of box-office figures when the filmmakers behind successful movies do not receive a substantial share of the revenue.
He maintained that he would not be interested if his movie breaks the billion-dollar threshold at the box office if his personal earnings from the project carried a less significant amount.
