Looking at Kunle Afolayan, one will think since he is a well-known filmmaker, all is well with the finances regarding his films right? But alas, this is not the case.
He revealed in a recent interview with Linda Ikeji’s blog that not only did making his most recent film The CEO cost him several millions of Naira, he took a bank loan from The Bank of Industry and since he hasn’t recouped the money, he doesn’t know how he is going to pay back.
“It costs a fortune; we are talking hundreds of millions of naira. We haven’t recouped the money and am not sure I will recoup that money ‘cos now the economy is bad and I have said this several times and there is really no point saying it again; but part of the funding for CEO, we got from Bank OF Industry (BOI) and that money needs to be paid back, I think I even have about maybe eight months left to pay back and it’s a bit scary, because I don’t know how I am going to pay it.
But I want to believe that somehow, it will get paid.”
Afolayan says his latest film The CEO hasn’t made much money He also explained how the cinemas are a very important source of recouping investment from movies.
“The success of a film is not determined by the number of publicity given to it, or on whether the film is great or not, no; a lot of the factor boils on, how the film is been presented, by the cinemas. For instance, if a film is so good and in a day, they give it four (4) slots showing in the cinema; if the first slot showing is 10: am, 12noon, 2: pm and 4: pm; that film will not make money.
But if the film gets three (3) slots and the 3slots are; 5: pm, 7: pm and 9: pm, then the film will make more money. So a lot of times the fate of an average film is determined by how the cinema positions the film.”
You can read the rest of the interview HERE.