Stranger Pictures has launched the first equity crowdfunding offering for a film in Southeast Asia according to a note from the issuer. The securities offering is listed on global platform FundedByMe in Malaysia.
Malaysia is the first country in the ASEAN region to regulate securities crowdfunding. A regulated framework by the Securities Commission (SC) Malaysia for equity crowdfunding has been in place since 2015
In a release, Stranger Pictures explained that Malaysian filmmakers face steep challenges like insufficient funding, little opportunity for publicity and a competitive environment. By issuing securities on a crowdfunding platform, the company hopes to raise sufficient capital while engaging with supporters.
“When we talk about the commercialization of film art, the expected outcome does not stop merely at catering the film to the audiences’ taste to achieve a high box office revenue, we aim to introduce the artistic value of films to the public.” said Yim Wai Lup, Executive Producer of Stranger Pictures.
Bronson Wee, Executive Director of Stranger Pictures, explained:
“Realizing the artistic value is never easy, but our core team is a fine blend of talents with art & [a] financial background, therefore we can produce something that is artistically inclined and financially feasible. Our vision is to transform the film and entertainment industry with a decentralised ecosystem.”
Investors in the project will be owners in the company and gain rights to the box office revenue said the company. Shareholders may also expect ownership in future films produced by Stranger Pictures.
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