Did IrokoTV Fail or Did the Nigerian Market Fail Iroko?

When Jason Njoku, founder of IrokoTV, poured over $100 million into building Nigeria’s most ambitious streaming platform, it was a move backed by global confidence. Investors believed in the potential of Nollywood and in the vision of bringing African stories to African screens through a world-class streaming service. But over a decade later, Njoku openly calls it a mistake.

Now the question is: Was it Iroko that failed, or did the Nigerian market simply make success impossible?

Streaming Was a Bold Gamble

When IrokoTV launched in 2011, it had one goal, to become Africa’s Netflix. With funding from Tiger Global (who had also backed Netflix), and a strong Nollywood library, the dream was alive. But while Netflix had credit cards, fast internet, and a middle-class audience, Iroko was battling:

• Costly data bundles
• Clunky payment systems
• Unreliable infrastructure
• Low per capita income

Nigeria’s GDP per capita at the time was just $2,000. Meanwhile, Iroko was charging $5/month for premium access. That’s a tough sell in a country where most people are hustling for food and transport.

What Jason Got Right

Let’s start with some honesty. Jason Njoku gave IrokoTV everything. He:

• Built an impressive content library.
• Focused on Nigerian stories and Nollywood content.
• Created Android-friendly platforms.
• Opened physical kiosks.
• Tried call centers and peer-to-peer file sharing.
• Launched original series and films.
• Created the highly successful ROK TV, later sold to Canal+.
• He fought hard. He hustled. He believed.

But despite all of this, IrokoTV struggled. Subscribers were few. The cash burned fast. And eventually, the platform pulled out of Nigeria.

So yes—Njoku did a lot right.

But Here’s Where He Got It Wrong

He Overestimated the Nigerian Market

Jason believed Nigeria had the numbers and demand to support a $5/month subscription model. But Nigeria is not Netflix’s America. Back in 2011, our GDP per capita was $2,000 and even now in 2025, it’s not much better.

Streaming is a luxury. When people are choosing between feeding their family and watching movies, movies will lose every time.

He Used a Silicon Valley Playbook in a Nigerian Market

You don’t force Silicon Valley models on African realities. Iroko tried to scale like Netflix, subscriptions, clean UX, investor burn rate thinking—but Nigeria needed a different approach:

• Cheaper data
• Offline options
• Simple, relatable user experience
• Partnerships with telcos and TV stations

The Content Was Good, But Was It Great?

Iroko had lots of Nollywood titles, but many felt recycled. There weren’t enough new, gripping originals. In a world where people can watch free films on YouTube, your content must blow them away. And truth be told, many Iroko films didn’t feel that special.

No Deep Local Strategy

Iroko should have leaned into local communities. Nollywood fans are loyal but they follow faces, not platforms. Imagine if Iroko built community-based access points, regional partnerships, discount data bundles with MTN. He didn’t meet the market where it was.

So What Would Actually Work in Nigeria?

We can’t let Iroko’s crash scare us into giving up on streaming. Nigerians love stories. But we must build a system that fits our lifestyle, our wallets, and our habits.

1. Ad-Supported, Not Subscription-Based

Forget $5/month models. Give us free access with short ads in-between like YouTube. That’s what most Nigerians already accept and it works.

2. Build With Telcos, Not Against Them

Bundle streaming with data plans. For example, MTN Lite Cinema for ₦300/day access. Nigerians are already used to daily and weekly subscriptions.

3. Focus on One Thing: Jaw-Dropping Content

Don’t just dump hundreds of B-movies. Invest in one or two great stories a month. Push quality, not quantity. Get viewers to associate your brand with “the movie that moved me.”

4. Collaborate With YouTube and TikTok Creators

These platforms already have the attention of the youth. Why not partner? Launch web series, special events, or mini-films with their biggest stars.

5. Make Content Shareable and Viral

Don’t just make content to be watched make content to be talked about. Nollywood has crazy stories. Package them well, subtitle them fast, and let the internet do the rest.

Is Streaming Finished for Nigeria?

Not at all.

But the model must change. Nigerians can spend. They do it every day on fashion, weddings, phones, betting, and food. The issue isn’t poverty, it’s value. If people feel they’re not getting value, they won’t spend.

So yes, Jason Njoku was brave, but he didn’t read the room deeply enough.