In a March 11, 2025 retrospective, iROKOtv founder Jason Njoku looked back on the company’s 15-year journey and asked: “Did the market win?” His answer? Yes—at least when it comes to premium streaming in Nigeria.
Per Njoku, iROKOtv spent over $100M trying to build a streaming business but exited Nigeria by 2023, while its content production arm, ROK Studios, proved more financially viable. Last week, Akoroko Premium subscribers received a newsletter that breaks down why iROKOtv, once seen as the “Netflix of Nollywood,” ultimately failed in Nigeria despite raising millions.
Furthermore, looking at Netflix, Showmax, and YouTube, the newsletter shows that SVOD (subscription-based streaming) has struggled in Nigeria (and Africa broadly), while ad-supported models like YouTube thrive.
The takeaway? Nigeria’s market conditions make standalone premium streaming incredibly difficult, and future success will depend on hybrid or ad-driven models rather than Western-style SVOD models.
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