Kosoko made the disclosure during an interview, explaining that the project failed to generate sufficient revenue to cover its production and distribution costs, leaving the investors disappointed.
According to the veteran actor, the money used to finance the film came from investors who expected to make returns from the cinema release.
During the interview, the interviewer expressed surprise at the reported production cost, prompting Kosoko to clarify that the funds were not given to him as a personal favour but were part of a business arrangement.
“They did business, and we took the film to the cinema. Different things happened,” he said.
Asked to explain what went wrong, Kosoko disclosed that the film did not earn enough money to recover the amount invested. He added that the limited revenue generated from the project was shared among those involved.
“We didn’t earn our money, and the little we earned was split,” he lamented.
The actor’s comments highlight the financial risks associated with producing and distributing films, particularly when filmmakers depend on cinema releases to recover substantial production budgets.
Kosoko also used humour to describe the disappointment arising from the project’s poor financial performance. He sang about how he could still be seen dancing despite his financial predicament.
“As I am, if you hear someone with debt dancing, it’s me,” he sang during the interview.
However, he subsequently clarified that his situation was not necessarily a straightforward case of owing money, explaining that the major concern was the failure of the film to deliver the financial returns anticipated by its investors.
He noted that the people who worked on the production had been paid for their services, even though the project did not achieve the financial success they had hoped for.
Despite the payments made to the production crew, Kosoko indicated that the outcome remained a source of concern for him, suggesting that he continued to reflect on the losses associated with the project.
When the interviewer sought further clarification about the cinema earnings and the distribution of the revenue, the actor acknowledged the substantial investments made by cinema operators.
“I won’t deceive anyone, but truly, those who own the cinemas have huge investments,” he said.
His remarks suggested that the economics of cinema distribution involve several competing costs and business interests, making it difficult for filmmakers to recover their investments solely through theatrical releases.
Cinema operators invest in facilities, equipment, staffing and other operational expenses, while filmmakers must contend with production costs and the terms under which their films are exhibited.
Kosoko’s experience illustrates the uncertainty involved in committing large sums to film production without a guaranteed return. Even when a movie reaches cinemas, its commercial performance may not be sufficient to cover the money invested.
The veteran actor’s disclosure also draws attention to the importance of financial planning, investment agreements and realistic revenue expectations in Nigeria’s film industry.
Although Kosoko did not provide detailed figures for the film’s total cinema earnings or explain the specific factors responsible for its performance, he made clear that the revenue generated was insufficient to recoup the investment.
His account serves as a reminder that a film’s release in cinemas does not automatically translate into profit, particularly when production costs are high and box-office returns fall below expectations.
