According to industry analyses, Amazon Prime Video is battling Netflix for Nigeria’s Film Market.
Netflix has always been the streaming site most Nigerians are aware of, hence the phrase “Netflix n Chill”. Its services launched in Nigeria in 2016, but Amazon recently launched its Prime Video service in the country, which is in direct competition with Netflix.
With the Prime Video service launched in Nigeria three months ago, BMA understands that Nigerians no longer need a Virtual Private Network (VPN) to access the platform and no longer have to pay the fees in USD but in Naira.
Amazon launched in Nigeria in August 2022 after a series of planning and investment. The platform would showcase Nigerian movies (Nollywood content) while incorporating Prime Video content from foreign countries. It currently has over 20,000 pieces of content, such as original movies and TV shows.
Since then, it has competed with the global streaming giant Netflix, which arrived in 2016 when it first became available to Nigeria and 129 other countries worldwide. The streaming giant swiftly began to acquire rights to local films, mainly through licensing, enabling Nigerian filmmakers to resurrect their films which had previously been released in theatres.
According to the report, the arrival of these streaming platforms has helped some Nollywood filmmakers gain from their works. For many years, the Nigerian film business relied on home video distribution, plagued by piracy issues that made filmmakers unable to draw in even 5 per cent of moviegoers.
Films like Ayo Makun’s ’30 Days in Atlanta’ (2014), its sequel, ‘A Trip to Jamaica’ (2016), and Kemi Adetiba’s ‘The Wedding Party (2016) launched on Netflix and ushered in a new genre of Nigerian blockbusters, which paved the way for filmmakers to confidently debut more films to the cinemas. From 2014 to 2019, the process became simple, from the production of the movies to nationwide distribution to heavy marketing.
Due to the rapid expansion of the film industry, this formula created a demand for accurate box office revenue collection, which started in 2018. ‘King of Boys’ (2018, US$521 917), ‘Chief Daddy’ (2018, US$872 865), ‘Merry Men 2’ (2019, US$526 873), ‘Sugar Rush’ (2019, US$646 483), and ‘Living in Bondage – Breaking Free’ (2018, US$380 231) are a few examples of previous blockbusters that performed well financially.
Prime Video Nigeria attests that subscription costs are as low as US$5.18 per month after a 7-day trial. This low subscription rate will likely draw Nigerians to Prime Video Nigeria. Unlike Netflix, whose Standard Subscription Plan costs US$13 per month.
Netflix said that the standard subscription plan, unlike the basic subscription plan, allows customers to view Videos on several screens. “One of the best advantages this subscription plan has is that it supports High Definition (HD), allowing you to elevate your viewing experience,” Netflix added.