Comedian Ayo Makun popularly known as AY said he has “lost so much money” to piracy of his movies.
The actor said this while speaking on CNN’s Marketplace Africa, hosted by Zain Asher.
He said the Nigerian film industry is now attracting investors because of its profitability.
“People are now beginning to know that you can make money from our movies. Investors are starting to come in and collaborations between different production outfits are beginning.”
He added that the recession in 2016 affected him while he was shooting his latest movie, “10 Days in Suncity”.
AY said producers refuse to spend money on movies because of the risk of piracy which could lead to huge losses.
“The secret is not for you to just jump in because you think people are making money. You need to do your research. You also need to have an understanding of finance.
“(As) I have other comedy platforms, maybe the proceeds from doing standup will divert into this new line of business, which is movie making… And I’m a risk taker. I do not ask for any sort of funding.
“I have lost so much (money) from (the piracy of) 30 Days to A Trip to Jamaica. This has also affected the industry – some producers believe that if they spend so much and pirates come, they are going to (have a) huge loss.
“But if they spend less and they make a little money before the thieves come, it will be fine. This is affecting the quality [of the films being made].”