Kunle Afolayan YouTube comments highlight how Nigeria’s exchange rate and economic pressures are driving Nollywood filmmakers towards the platform

Nigerian filmmaker and actor Kunle Afolayan has attributed Nollywood’s growing migration from cinemas and television to YouTube to Nigeria’s exchange rate and wider economic pressures, arguing that the platform’s financial returns have become a powerful incentive for filmmakers.

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Afolayan made the observation during an interview while discussing the gradual shift in how Nigerian filmmakers distribute and monetise their productions.

According to the award-winning filmmaker, the attraction of YouTube is closely tied to the value of the US dollar against the naira.

He suggested that filmmakers who benefit from dollar-denominated advertising revenue may view the platform differently if the exchange rate changes substantially.

“Nigerian filmmakers are rushing to YouTube because of the dollar exchange rate,” Afolayan said.

“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.”

Afolayan’s comments offer a candid explanation for a wider transformation in Nigeria’s entertainment industry, where filmmakers are increasingly exploring digital platforms as alternatives to traditional cinema and television distribution.

YouTube’s global reach allows Nigerian productions to find audiences beyond the country’s borders, while advertising and other digital revenue streams can provide filmmakers with an additional source of income.

For Afolayan, however, the economics behind the migration are particularly important.

His argument suggests that the enthusiasm surrounding YouTube is not solely about technology or changing viewing habits, but also about the financial realities facing Nigerian filmmakers.

The naira’s depreciation has significantly altered the value of dollar-linked earnings when converted into local currency.

This can make international digital revenue more attractive to producers whose production costs are largely denominated in naira.

The shift also reflects changing audience behaviour. Viewers are increasingly consuming films and other entertainment content on smartphones and connected devices, reducing the industry’s reliance on cinemas and conventional television schedules.

Afolayan’s assessment comes as Nollywood continues to adapt to a rapidly changing distribution landscape.

Streaming services, social media and video-sharing platforms have created new routes to audiences, while traditional theatrical releases remain important for major productions.

The filmmaker’s remarks highlight a more pragmatic side of that evolution. Rather than viewing YouTube’s rise simply as a creative or technological trend, Afolayan sees the country’s economic environment as a major force behind filmmakers’ decisions.

His comments also point to the industry’s vulnerability to currency movements.

If the naira were to strengthen considerably against the dollar, the local value of overseas digital earnings could fall, potentially changing the calculation for producers considering where to release their films.

For now, YouTube remains an increasingly important outlet for Nollywood, offering filmmakers access to a vast international audience and an opportunity to monetise content outside traditional distribution channels.

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Afolayan’s warning, however, suggests that the industry’s relationship with the platform may ultimately depend as much on Nigeria‘s economic fortunes as it does on the popularity of online viewing.