Co-production in filmmaking can offer various advantages; from shared skills, knowledge and equipment to increased financial possibilities. But, as in any joint venture, matters of ownership and profit sharing should be carefully documented in advance

Titanic, the 1997 James Cameron epic romantic film about the sinking of the RMS Titanic on its maiden voyage, is one of the highest grossing films of all time ($2,186,772,302). In its year of release, Titanic won 11 Academy Awards, becoming the second film to win that number of awards, after Ben Hur in 1959.

The Lord of the Rings: The Return of the King, a 2003 fantasy film about Sauron's launch to finally conquer Middle Earth, directed by Peter Jackson, is another high grossing film ($1,119,929,521). In 2004, The Return of the King also won 11 Academy Awards from 11 nominations.

Avatar, another James Cameron film, released in 2009, is a sci-fi about the mining of minerals by humans on the fictional planet of Pandora which threatens the existence of the local tribe of Na'vi. It is actually the highest grossing film of all time ($2,782,275,172). In 2010, Avatar won three Academy Awards.

These films are all co-productions. Titanic and Avatar were co-produced by James Cameron and Jon Landau, and The Lord of the Rings: The Return of the King was co-produced by Peter Jackson, Barrie M. Osborne and Fran Walsh.

Simply put, co-production is the making of a film by two or more people or entities, rather than a single person or entity. The co-producers jointly contribute to the financing of the production and other aspects, based on their skills. And they typically jointly own the rights in the completed production.

Co-production is different from co-financing. The latter is where the involvement of the person or entity is purely financial. The participant's interest in the production is only financial and will be based on return on investment from the exploitation of the film.

Co-production sometimes cuts across borders and is often referred to as international co-production. International co-production involves the collaboration of two or more entities from at least two different countries in a film's production. Examples of such films include Pride and Prejudice (UK and France), The Last King of Scotland (UK and US), Robin Hood (UK and US), Karate Kid (US and China), Half of a Yellow Sun (Nigeria and UK) and Feathered Dreams (Nigeria and Ukraine).

Why might co-production be right for you?

Financing

The ability to pool financial resources. The fact that two or more people or entities co-produce a film means that they are able to share the financial commitments of production, which eases the burden on one person or entity.

Skill and equipment

The co-producers have access to the specialized skills of the other co-producers and also the use of equipment owned by them.

Knowledge

The co-producers are able to learn from each other on the production of films.

Quality of production

The quality of production stands a good chance of being higher where two or more people/entities pull their financial resources, skills, knowledge and equipment together to produce a film.

Marketing and distribution

Each co-producer may have their own marketing or distribution networks. Co-production allows other co-producers to have access to these markets and to expand the distribution of the film.

Access to projects

Co-production sometimes allows a co-producer to have access to the other party's projects. The co-producer does not have to initiate the project/film that is to be produced and can work on the best ideas that are being developed at any given time.

Income realized

Due to the combined efforts of the co-producers, the film is more likely to be more successful, which in turn means higher income for the co-producers.

Co-production in Nigeria

So what about co-production in Nigeria? At the time of writing this article, most Nigerian films are still produced by a single person or entity. The reasons for this include practice and culture; our filmmakers are used to doing everything singlehandedly. A lack of trust due to past experiences and a lack of awareness of the advantages of co-production also play a part.

From biopics on Queen Amina of Zaria, Funmilayo Ransome-Kuti and Ojukwu, to dramas like Things Fall Apart or even Ake there is a wealth of material available for co-productions. With our 150 million+ population, the market for our own stories has been proved over and over again.

Filmmaking in Nigeria is not easy and co-productions do not guarantee awards or the huge sums mentioned earlier. Co-productions can, however, help ease the burdens and challenges. If produced, these films will benefit from two producers pooling their financial resources together; different skills and knowledge will be harnessed; and the quality of the film will be higher because of the joining of resources, skills and knowledge. Also, since the producers have their own markets, the film will benefit from access to these markets, which in turn will lead to higher income from distribution.

Whether it is a co-production by Tunde Kelani and Kunle Afolayan, Chineze Anyaene and Faruk Lasaki, Zeb Ejiro and Tchidi Chikere, Teco Benson and Lancelot Imaseun, or any other co-production involving two or more producers, the Nigerian film industry is ready for such collaborations. Nigeria's filmmakers nationwide, both old and new, are encouraged to consider or re-consider the benefits of co-productions.

A word of advice; in any co-production it is critical that the obligations vis-a-vis production, financing, distribution and matters related to ownership are agreed on in advance. This should be in the form of a written agreement prepared by an expert and signed by both parties. History and experience have shown that such agreements make it clear what has been agreed and ultimately helps to limit disputes.

Olajide Oyewole LLP is a member of the DLA Piper Africa Group, an alliance of leading independent law firms working together in association with DLA Piper across Africa.

This article was reproduced with permission of Olajide Oyewole LLP.