Long the number one platform in terms of subscriber numbers, Netflix experienced a difficult period in early 2022. For the first time, the VOD giant recorded a slowdown in its activities, losing 200,000 subscribers in the first quarter of 2022. This also led to a $54 billion drop in the company's market value.
There are several reasons for this slowdown. The integration of paid advertising into its model, the ban on account sharing, and fierce competition from the arrival of other platforms such as Disney+, HBOMax, Amazon Prime Video, and the presence of long-standing players such as CANAL+.
To remedy the situation, Netflix has decided to lower its prices in certain countries where it believes it has strong growth prospects but is struggling to attract and retain new users. This is the case in many African countries where Netflix operates.
In recent years, Africa has become the new challenge for the giant Netflix. After officially launching its African series production in 2019 with its first original African creation, Queen Sono, Netflix has strengthened its position in Nigeria, the world's second largest film industry with its Nollywood productions. Having focused on English-speaking Africa until now, Netflix now seems to want to stand out in the production of content dedicated to West Africa in order to attract new subscribers.