Legion M, a fan-owned entertainment studio, announced on Monday the launch of its Title III equity crowdfunding offering on Wefunder. The company “Tested the Waters” (TTW) under Reg A+ to gauge investor interest in funding their venture that seeks to produce movies, TV shows and more.
The company, which was founded by Paul Scanlan and Jeff Annison, offers an investment opportunity for entertainment fans. Its model is simple: With Legion M, fans own the company, fans get behind the scenes, and when Legion M is successful, fans share the rewards. It works with top tier Hollywood creators and producers to develop and monetize content together with the FANS. Projects are geared towards the entertainment space, including but not limited to feature films, TV series, VR projects, games, web series, etc.
Scanlan previously stated:
“Legion M is opening the gates to Hollywood and giving fans the opportunity to be a part of the creation of new content. We’re building a legion of one million fans to empower creators and change the way content is made. After all, fans are the reason that content exists, and for the first time in history, we are inviting fans into Hollywood’s inner circle.”
“We’re looking [to finance] everything from feature film, network television, and web content to new frontiers like virtual reality, augmented reality and interactive TV. We live in a golden age of content–never before have there been so many ways to reach an audience. We are technologists by nature—at MobiTV we won an Emmy for innovation in television–so the idea of using content to pioneer some of these new frontiers is very exciting.”
Legion M’s offering is looking raise up to $1,000,000 worth of class A common shares at $7 per share with a minimum investment of only $98 (14 shares). It is set to close on August 14th.
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