Business

Moses Babatope to launch new media company after departure from FilmOne Group

Published

1 week ago

April 24, 2024

The co-founder of Filmhouse Group and former Managing Director of FilmOne, Moses Babatope, is set to launch a new media and entertainment company.

News of the media and entertainment company launch was disclosed in a statement as seen by Nairametrics on Wednesday. While the public launch of his new company is still pending, Babatope addressed speculations regarding a non-compete agreement with Filmhouse Group.

“There are rumors of a non-compete with FilmOne and Filmhouse, but that is untrue,” Babatope said, debunking the circulating misinformation. “The plan is bigger than Moses Babatope; it’s not just another entertainment venture. The plan is to grow the industry ten times bigger. We’re innovating, disrupting, and creating new revenue lines for the industry,” he added.

Here’s what we know

Babatope’s new venture is focusing on film production, distribution, and cinema, following his departure from FilmHouse Group. People familiar with the matter suggested that internal tensions between co-founders Moses Babatope and Kene Okwuosa may have prompted the departure.

The issue stemmed from differences in vision and leadership style between the two co-founders, which had long been a point of contention within the organization.

Babatope’s hands-on approach and emphasis on innovation were both admired and met with concern, especially as his accomplishments, such as expanding FilmOne Entertainment and securing major distribution deals. On the other hand, Kene Okwuosa’s leadership style and vision were purportedly at odds with Babatope’s, leading to friction between them.

Insider sources, speaking anonymously, explained that recent discussions surrounding Babatope’s role within the company were influenced by these frictions. Thus, an announcement made to over 100 staff members on Monday, March 11, 2024, hinted at the possibility of one of the managing directors stepping down.

When Nairametrics sought comments from FilmHouse Group, they denied the occurrence of any of such events within the company. However, inside sources claimed that there was a strict no-press policy in place regarding the matter at the time.

Subsequently, Moses Babatope resigned as Managing Director, paving the way for his new company’s establishment.

What you should know

FilmHouse was initially established in 2012 by Kenechukwu Mkparu, alongside co-founders Moses Babatope and Kene Okwuosa, with the aim of addressing gaps in the cinema market.

Babatope’s journey in the film industry spans over two decades, marked by his expertise in cinema operations and management. As a co-founder of FilmHouse Group and the pioneering Managing Director of FilmOne Entertainment, his leadership has been instrumental in the production and executive production of over 40 of Nollywood’s most notable titles. These include successful ventures like “Wedding Party” (grossing N452 million) and Funke Akindele’s “A Tribe Called Judah” (earning N1.4 billion), among others.

Under his stewardship, FilmOne Entertainment forged significant partnerships with major Hollywood entities such as Disney, Warner Brothers, Sony, Netflix, Prime Video, and Warner Brothers.

Furthermore, Babatope played a key role in pioneering corporate financing for films through the establishment of the West African Film Fund. This innovative initiative involved partnerships with Huahua Media of China and Empire Entertainment of South Africa to fully finance or co-finance 15 film projects, marking a significant milestone in the industry.