Olaiya Igwe Drops Bombshell on Funke Akindele’s Billion-Naira Movie: “Producers Get Less Than 50%”
- Nollywood veteran Olaiya Igwe disclosed that Funke Akindele's film Behind the Scenes crossed the billion naira mark at the box office, but the producer received less than half the money
- The actor explained that Femi Adebayo spent millions on Jagun Jagun but made no profit after cinema deductions, exposing the harsh reality behind record-breaking box office figures
- Olaiya Igwe urged Nollywood filmmakers to return to the old distribution methods used by veterans like Hubert Ogunde and Adeyemi Afolayan to make their efforts worthwhile
- In a chat with Legit.ng, music and entertainment analyst Smith Adebimpe reacted to Olaiya Igwe's revelation about the reality of box office earnings for Nollywood producers
Nollywood veteran Ebun Oloyede, better known as Olaiya Igwe or Ololade Mr Money, has stirred conversation in the industry after revealing the financial reality behind blockbuster films.
He disclosed that Funke Akindele’s movie Behind the Scenes crossed the billion-naira mark at the box office, but the producer received less than half of the revenue after cinemas and distributors took their share.
Source: Instagram
According to him, while the public celebrates impressive figures, the actual money that goes to the producer is far smaller because exhibitors and middlemen claim a large portion.
He explained that this system leaves the people who fund and create the projects with far less than the headlines suggest.
Olaiya Igwe also pointed to Femi Adebayo’s Jagun Jagun, saying millions were spent on the production, but no profit was made after deductions by cinemas.
He emphasised that this has been a long-standing challenge, as producers continue to struggle despite record-breaking grosses.
Other filmmakers have raised similar concerns in the past. Kunle Afolayan once noted that he would rather make a modest profit of ten million naira than boast of billions in box office returns that bring little gain.
Olaiya Igwe’s remarks have once again revealed the imbalance in how Nigerian cinemas divide ticket sales.
He urged Nollywood producers to consider the traditional methods used by veterans such as Hubert Ogunde, Adeyemi Afolayan Ade Love, and Adebayo Salami, insisting that filmmakers should find ways to make their efforts worthwhile instead of working for cinemas to drain them.
Watch the video below:
The industry needs a better structure – Adebimpe
In a chat with Legit.ng, music and entertainment analyst Smith Adebimpe shared his thoughts on the box office earnings.
He stated:
"This is not the first time this issue has come up; Kunle Afolayan mentioned the exact same thing a while ago. Our movie industry really needs to find a better structure and alternative platforms so that producers can earn good money from their hard work. It is sad because when the average person sees these massive box office figures, they just assume our filmmakers are cashing out and are very rich, but the reality is that they only get a small cut, just like Olaiya Igwe explained. This poor reward system is a big reason why many of our veteran actors who made our childhood great end up living in poverty. We are in the digital era now, so Nollywood must wake up and create a distribution system that truly pays the creators."
Netizens react to Olaiya Igwe's revelation
Legit.ng compiled the reactions of netizens below:
@dynamoayoo said:
"This is the part people don't understand about '₦1B at the box office.' That number looks massive on the surface, but it's not the producer's money. Cinemas take a big cut, distributors take theirs, marketing has already eaten deep into the budget… by the time everything is settled, the actual filmmaker might be left with little or nothing."
@BashiruQuadir reacted:
"Movie makers make money in different directions.. cinema is a very complex atmosphere where some movie makers like Funke and AFOLAYAN own one directly and Indirectly.. ask yourself why Cinema is very important and revenue is not on ticket sales…"
@martaandmarc commented:
"Box office headlines look sweet, but the backend is where the real story is hiding. Distribution, cinema cuts, marketing, taxes by the time everyone takes their share, the creator is left holding the applause."
@AYANDAREB wrote:
"What then is d essence of cinema? They should put their films on YouTube, Netflix, Prime et al instead then."
Source: Instagram
Olaiya Igwe speaks on Tope Alabi
Earlier, Legit.ng reported that Olaiya Igwe explained why he refused to lend gospel singer Tope Alabi his car for her wedding many years ago.
He said the singer approached him for the vehicle, and although he initially agreed, he had already decided not to release it.
The actor later revealed that robbers had earlier stolen the car before he recovered it, and he feared losing it again, which influenced his decision.
Source: Legit.ng
