I’m an avid fan of Dragon’s Den. I watch it the same way I watch TV shows based on true events, like Narcos. How? Well, when watching Narcos, I’m constantly pausing to run to Google: Was Rodrigo Lara really assassinated? Was that really the Los Extraditables logo? Was Pablo Escobar really disgraced in Congress, and did he partner with M19 to burn down the Court?
I feed my Dragon’s Den addiction on YouTube, where each business pitch is uploaded as a standalone video, unlike the BBC One broadcast where multiple pitches make an episode. And after consuming a video, I dash to Google. I want to see how the pitched businesses are performing. Like Rob Law’s suitcase in 2006: told the company was worthless, it sold for £12 million in 2023. Did Sara Davies’ dad really get 5% of Redcoat Leisure? These nuggets fascinate me.
I’d estimate there have been about 1,000 pitches on Dragon’s Den since its inception in 2005, and I’ve watched about 800 of them. I wonder why I love it so much; maybe I just like business. But then, why am I not so into Shark Tank? Probably because those are “sharks”. Dragons are a bit more conservative in their ask, apart from that one time in 2011 when Duncan Bannatyne invested £59k for 79% equity in RKA Records, which was owned by teenagers. Some have argued that Bannatyne bought the company (which he later changed to Bannatyne Records) for his own entertainment. Maybe they are right: Despite several name changes, it has produced only one music video in its lifetime.
When Ultima Studios secured the rights to produce Lion’s Den, the Nigerian adaptation of Dragon’s Den, I knew I’d be one of the first to tune in. But aside from Adenike Ogunlesi, the “Lions” were new to me. So I did the “Narcos thing”. On Google, I found an account of how Paul Onwuanibe scoured Lagos in a helicopter to choose a space for Landmark beach. That was interesting.
Recently, I’ve also been following Oya! Pitch, a new format that feels inspired by the Dragon’s Den spirit. I’ve watched every episode, and I’m fascinated by how they’ve localised elements of the show. Instead of the standard “I’m out” you hear on Dragon’s Den, they use “This one pass me“.
Why Dragons’ Den works
But after watching some of the newly uploaded videos, I wasn’t feeling it. I had to stop and ask myself: what’s different? The format hasn’t changed, so what has? It made me go back to understand what made the previous episodes work so magnificently.
First, it’s emotional. From Levi Roots’ popular Reggae Reggae Sauce success story to Craig Hill’s tragic story, or the mom who had invested £250,000 of her own money in her 15-year-old son’s Boot Buddy idea before they entered the den, these are touching stories.
It’s a business show, but it hits all the right notes without relying on cheap “sob stories”. Kirsty Henshaw’s episode, for example, resonated with me. She was authentic. I felt for her because she was just doing what she could with what she had. When Theo Paphitis said she was amazing and she sobbed, muttering “not really”, you could see the years of hustle behind those tears. Based on her comment on the YouTube video, she bought her shares back from Peter Jones and Duncan Bannatyne. She rebranded as Kirsty’s—I wonder if her boyfriend proposed to her—and it’s inspiring to know her company is now worth over £7 million.
I’m inspired more when I see Nigerian entrepreneurs in the Den. Whether it’s MKO Abiola’s daughter or Chika getting five offers for the snacks of my childhood, I feel some pride seeing our stories on the platform. Then there’s the episode with mother-son duo Sade and Matthew, a total rollercoaster. It starts with them in traditional outfits, singing a song I sang every morning in devotion as a child and a lot of “Nigerian mother” interactions that only Touker, himself from an immigrant family, could relate to. Even though it ended in tears (literally) and they didn’t get an investment, I loved them.
Secondly, it’s an entertaining crash course on entrepreneurship. There are decades of experience weighted in the questions the Dragons ask. You see confident entrepreneurs start to wobble when Deborah Meaden asks for the patent application or a specific contract. It’s intense and educative.
Thirdly, it’s entertaining. Perhaps, this should have been my first point. It’s high stakes and you can feel it through the screen. Like the Dragons, I guess what the pitch is when I see what’s on display and I’m eager to hear the pitch. The entrepreneur’s interrogation is like a game of ping-pong. Sometimes the Dragons bash an idea just to make others opt out, only to make an offer when they are the only ones left standing. It’s also interesting to see people go to the “wall” for advice. And British humour? It’s my favorite kind. Listening to Touker Suleyman say he doesn’t get out of bed for 1%, only to get the epic reply, “but you’re already out of bed”, from Helen Guillaume was brilliant television.
The “New” Den: What’s Different?
So, what is missing in the new episodes on YouTube? I noticed a few jarring changes:
- The Cold Open: I miss the uncertainty of the elevator doors opening. I understand that YouTube algorithm demands a “hook” in the first five seconds to capture attention immediately, but it feels like there’s no foreplay anymore. Everyone just wants to get … you know what I mean. I guess it’s the world we live in now. Hollywood trailers are now cut to start with a cold open, usually a high action sequence for a few seconds before you see the intro text: “Trailer Starts Now”. Evolve or die, sadly.
- The Cue Cards: In a recent episode, Gulshen Bano reads her pitch off cue cards. Watching entrepreneurs stumble and recover is part of the Dragons’ Den thrill; seeing them read takes away the “high-stakes” feel. But maybe this is a one-off.
- The Color Grading: The new episodes are much more colorful. But I prefer the dinginess of the earlier seasons; it added a layer of intensity. Now, the Den feels too welcoming.
- The Length: I wonder how much entertainment value is sacrificed to keep the new episodes under 10 minutes on YouTube. Older episodes captured the exchange between the show’s personalities better. I rarely wondered how long entrepreneurs spend in the den. Now I do.
- Guest Dragons: Normally when there’s a guest judge, we have six dragons. But now, it seems guest judges take the place of possibly my favorite dragon, Sara Davies. I assume the show’s producers have their reasons, but it changes the chemistry of the room. That said, I am not not a fan of guest judges.
I know that changes always happen. Even looking through past episodes, I see that the show always made subtle changes—like cutting out Evan Davis. So, even as I lament these changes on YouTube, Dragons’ Den remains a fave. It’s one of global TV’s most re-watchable formats.
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Lani Aisida is a Nigerian screenwriter and producer who has worked on TV for over a decade
