🪙 Nollywood does not like money conversations

👋 Good morning. AI is disrupting the world. I mean, this was always expected, but the reality of it just hit me differently. Yesterday, a visualizer for a new Larry Gaaga, Olamide, and Mavo song dropped, made with AI, quite obviously too.

But then, on the writing side, the winner of a Commonwealth prize was accused of using AI to write their story. And this one is dicey for me, because I read the story and genuinely did not think it was AI-written. So if it was, is this what we're doing now? Subjecting new pieces to extreme breakdowns just to prove it's human? And of course, this is a money conversation at its core. These are livelihoods being torn apart here.

This week: we spoke to a creator about her first brand deal, notes on distribution in Nollywood, and a savings hack worth bookmarking. Let’s get right into it.

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What’s that one money experience you have, good or bad, we don’t judge. Reply to this email or reach us here. We're featuring the most relatable ones next week!

THE STACK

Sophia Eguono on almost missing her first brand deal

Most creatives remember their first brand deal as a turning point. The moment everything clicked. But what happens when the money comes in and you don't quite handle it the way you wish you had? For Sophia Eguono, that's exactly what went down.

The deal itself was almost lost before it began; the brand's email sat in her spam folder for a full month. She replied late, apologized, and somehow they were still in. But when the money finally landed, she admits she didn't spend it wisely.

In this conversation, she looks back on that first deal, what she'd do differently, and the one saving rule she now holds onto no matter how tight things get.

Take me back to your first brand deal. How did it come in, and at what point did it feel real to you?

The brand came across my TikTok page and sent me an email, which went to the spam folder, and I saw it like 1 month later. I still texted back to apologize for not responding on time, and they said they were still interested. Thought it was one of those scam messages. 

We agreed on the amount, and they asked for my account details and sent the full money immediately.

What was the very first thing you spent that money on, and why that specifically?

The very first thing I spent my money on was a new tripod cause my tripod broke earlier that week, and I actually needed it.

Was that purchase something you had always imagined making when you “made it,” or was it a spontaneous, in-the-moment decision?

It was an in-the-moment decision.

Looking back, was the amount fair for the work you did, and would you negotiate differently now?

Looking back, the amount wasn’t fair at all, and yes, I would negotiate differently now.

Do you think you spent that money wisely, or did you just need to feel something in that moment?

I didn’t spend the money wisely, just random stuff.

What’s the most valuable saving hack that has helped you?

Always save 20% no matter how bad it gets! You won’t regret it.

Many are already using Pulse’s editorials and socials to grow their businesses and tell their stories to more than 5 million people. Just saying. Oh, and did I mention it only takes you one click?

BAG CHECK

Nollywood does not like talking about money, but here’s what we know

Nollywood just had a big weekend at the box office. In four weekends, Michael (yes, the Michael Jackson biopic) has crossed 500 million naira, after opening at 60.5 million.

But the more interesting story is the just-released Call of My Life, a romcom directed by Dammy Twitch and produced by Blessing Uzzi, which opened at 76.5 million naira and got people asking a question that would have seemed absurd a few years ago: could a Nolly romcom actually overtake a Michael Jackson film?

It got us thinking about how box office money actually moves in Nollywood. The industry doesn't talk about this openly, but film publication Wkmup estimated it: on every 100 naira ticket, 11 goes to government taxes, cinemas take 45, withholding tax accounts for 4, the distributor takes 4, and the producer walks away with 36.

We reached out to a Film One distribution manager for more, and we're still waiting on those answers. In the meantime, we spoke to film journalist Seyi Lasisi about box office numbers, marketing budgets, and how he thinks about commercial films.

When a film announces its box office numbers, how much of that figure can you actually trust? 

As a journalist, there's certain skepticism that I bring to all information, box-office earnings inclusive. There's been hush-hush conversations around bloating up figures for whatever reasons. These conversations mean that figures can be debated.

How does the size of a marketing budget determine a film's fate more than the quality of the film itself?

There's this cliche that a good film will sell itself. There's a little truth in that. Once people watch a good film, they're naturally motivated to inspire, bully, or encourage others to watch it. 

But, this doesn't override the importance of a marketing budget. For a filmmaker, it's important to showcase (market) your film to its possible audience.

How has the profile of the "typical Nigerian filmmaker" changed in the last five years?

There's a gradual change in how one views a typical Nigerian filmmaker. There are art-conscious and commercial-driven filmmakers. Not centering the dichotomy, these filmmakers operate in a largely stifling and destabilising industry.

The typical Nigerian filmmakers are, through various means (international co-productions, partnership with Western companies, festival circuits, local productions, launching of local solutions to industry issues: One Take, Filmmakers Mart, Circuits TV, Kava, EbonyLife Plus, Fusion Intelligence Community Cinemas, and all), trying to not just tell new stories but are keen about solving structural problems.

How does a film's distribution deal shape how many people actually get to see it?

A Nigerian film on a streaming platform, due to how supposedly cheap it is, will get more eyeballs than a cinema film. In recent years, most of the viral Nigerian titles and actors have been from streaming. 

Think the actors from Far From Home, Bucci Franklin and William Benson in To Kill a Monkey, and Uzor Arukwe in Love in Every Word. There's a certainty that these films, series, and actors won't have enjoyed the virality they enjoyed had the film been taken to the cinema. So, yes, a distribution deal affects a film's potential

How do you critique a film that's doing well commercially, but you think is weak 

As a critic who's also a cinephile, my loyalty is to cinema and the films I engage with. The external factors (the filmmakers involved, its earth-shattering commercial success, and popular appeal) are of less importance. 

This has allowed me to regulate my thinking around a commercial project. The commercial success of a film I think, is weak interests me too. It forces me to ask why the audience loves them, the factors involved, curious as to the appeal and all.

#6 Saving hack

Name your savings account after what you're saving for. "Holiday" or "New Laptop" hits differently than "Savings." You'll think twice before touching it.