Legion M

Legion M (founded 2016) is the world's first fan-owned entertainment company.[1]

Legion M
Private
Industry
  • Entertainment
FoundedMarch, 2016
Founder
ProductsMotion pictures, television, video games
Websitehttps://legionm.com/

History

Legion M was founded by Paul Scanlan and Jeff Annison in March, 2016.[2] Legion M is the world's first entertainment studio that allows fans to invest in and be part of the creation of new movies, television shows, virtual reality and other pieces of entertainment content.[3] Scanlan and Annison were able to create Legion M after the SEC passed Title IV of the JOBS Act, which allowed non-accredited investors to make investments in small businesses.[4] Legion M is currently partnered with Seth Green, co-creator of Emmy-winning TV series Robot Chicken, Gaston Dominguez of Meltdown Entertainment, and gaming studio Animal Repair Show.[5][6]

Legion M added a unique creative ally to its side by partnering with Alamo Drafthouse Cinema. This partnership adds a distribution component for Legion M as well as strengthening its expertise in film.[7]

On August 14, 2016, Legion M closed its initial funding round, and became the second company utilizing Reg. CF to earn $1,000,000. This record setting offering was completed in just three months with the contributions coming from over 3,000 investors.[8]

Legion M worked with the SEC to launch their 2nd funding round as a Reg A+ in March 2017.[9] A Reg. A+ round allowed for a higher funding threshold ($50,000,000), which provides two benefits to Legion M; the addition of capital, and the possibility of additional individual investors. The latter benefit being especially important as Legion M strives forward toward its goal of 1,000,000 investors.[10] Their Reg. A+ 2nd round was extended through Sept. 2, 2017 to accommodate for the growing demand from fans.[11]

On May 16, 2018, Paul and Jeff rang the opening cowbell on one of their frequent Facebook Live updates to announce the launch of Legion M's round 3 as a Reg. CF.[12] With round 3 closing date right around the corner, they have already oversubscribed again.

On December 12, 2018, Legion M and Chicken Soup for the Soul Entertainment ("CSS Entertainment") announced the formation of a strategic partnership to bring community driven content to television fans. The companies will develop a variety of crowdsourced TV projects, including POSITV, a weekly collection of inspirational news stories submitted by people from around the world; a sketch comedy show called Comedy Royale where viewers play the role of production executive as up-and-coming creators, actors, and others compete for cash, prizes, and opportunities to break into the entertainment industry; a Shark Tank-like show called Up$ide where viewers become venture capitalists as entrepreneurs pitch their ideas on live television; and a weekly music showcase called New York Rock Exchange that puts audience members in a music executive's seat. Another series, titled Legion M, will allow creators and directors to pitch their TV or film concepts to a TV audience who will green light their favorite projects into production.[13]

Projects

Legion M partners with filmmakers to create and/or distribute movies and television shows. Some of Legion M's projects include the following:

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References
  1. "Legion M Looks To Create The World's First Fan-Owned Entertainment Company". Bleeding Cool Comic Book, Movie, TV News. 2016-03-09. Retrieved 2016-05-01.
  2. Spangler, Todd (2016-03-09). "Startup Legion M Launches Crowdfunded Studio That Lets Fans Buy Piece of Company". Variety. Retrieved 2016-05-01.
  3. Hersko, Tyler. "Legion M, a fan-owned entertainment company, gives viewers a say for $7 a share". latimes.com. Retrieved 2018-05-22.
  4. "Introducing "The World's First Fan-Owned Entertainment Company"". Co.Create. 2016-03-09. Retrieved 2016-05-01.
  5. "Fan-owned Legion M takes on the Hollywood studios". TheStreet. Retrieved 2016-05-01.
  6. "First Fan-Owned Studio Legion M Launches". Animation Magazine. 2016-03-09. Retrieved 2016-05-01.
  7. Lincoln, Ross (May 26, 2016). "Alamo Drafthouse & Legion M Partner On Genre Entertainment Development Stream". www.deadline.com. Penske Business Media, LLC. Retrieved September 2, 2016.
  8. Hurst, Samantha (August 15, 2016). "Legion M Closes Record-Setting $1M Wefunder Crowdfunding Round & Named Itself Most Popular Reg CF Company". www.crowdfundinsider.com. Crowdfund Insider. Retrieved September 2, 2016.
  9. "Legion M Launches SEC Qualified "mini-IPO" With REG A+ Investment Offering". www.prnewswire.com. Retrieved 2018-07-28.
  10. "Legion M's Secret Master Plan". Legion M. Retrieved 2018-07-28.
  11. "Legion M to Close its Reg A+ Offer on Wefunder on September 2nd | Crowdfund Insider". Crowdfund Insider. 2017-08-24. Retrieved 2018-07-28.
  12. "Legion M Launches Its Latest Reg CF Campaign Exactly Two Years After Pioneering Equity Crowdfunding in the U.S." Retrieved 2018-07-28.
  13. Hayes, Dade (2018-12-12). "Legion M And Chicken Soup For The Soul Form Film And TV Partnership". Deadline. Retrieved 2018-12-12.
  14. Vary, Adam B.; Vary, Adam B. (2020-07-24). "Joe Manganiello Is Interdimensional Superhero Max Fist in 'Archenemy' Trailer (EXCLUSIVE)". Variety. Retrieved 2020-07-24.
  15. Boucher, Geoff (2019-12-16). "'The Emperor's Blades': Legion M Acquires Brian Staveley Novels, Weta Workshop On Board". Deadline. Retrieved 2019-12-21.
  16. Haring, Bruce (2019-04-26). "'Memory: The Origins of Alien' Documentary Acquired By Screen Media & Legion M". Deadline. Retrieved 2019-04-26.
  17. Weiss, Josh (2019-04-26). "Exclusive: Alien-centric doc coming to the masses thanks to Legion M and Screen Media". SYFY WIRE. Retrieved 2019-04-26.
  18. McNary, Dave (2019-01-25). "Saban Films Buys Kevin Smith's 'Jay and Silent Bob Reboot'". Variety. Retrieved 2019-01-27.
  19. "'Girl With No Name' Will Bring Feminist Westerns To The Screen, Page". www.hollywoodreporter.com. Retrieved 2018-10-05.
  20. "Nic Cage Crashes the Legion M Sundance Panel for 'Mandy'". Boom Howdy. 2018-01-21. Archived from the original on 2018-07-02. Retrieved 2018-05-14.
  21. "Nicolas Cage Is Embracing Strange Corners of His Career With 'Mandy'". The Hollywood Reporter. Retrieved 2018-07-04.
  22. "'Mandy' Is the Best Movie of 2018 (So Far)". Esquire. 2018-10-01. Retrieved 2018-10-08.
  23. "The surprise theatrical success of Nicolas Cage's new movie, 'Mandy,' has forced its distributor to completely overhaul its release strategy". Business Insider. Retrieved 2018-10-08.
  24. "Nic Cage stars in Mandy, an instant classic for horror fans". Mandatory. 2018-09-18. Retrieved 2018-10-08.
  25. Thompson, Simon. "Dean Devlin Talks 'Bad Samaritan' And Why Legion M Is Shaking Up Hollywood". Forbes. Retrieved 2018-05-14.
  26. "Anne Hathaway's 'Colossal': How Fan-Investors Could Benefit". The Hollywood Reporter. Retrieved 2018-05-14.
  27. "With "Icons," Legion M Is Creating Pop-Culture Time Capsules And Pushing VR's Limits". Fast Company. 2017-03-29. Retrieved 2018-05-14.
  28. Kabasele, Kendra A. (2017-07-19). "Stan Lee on Releasing More Superheroes From Vault: 'Someday I Will'". Variety. Retrieved 2018-05-18.
  29. Erbland, Kate (2017-02-07). "Crowdfunded Horror Anthology 'The Field Guide to Evil' Gets Official Greenlight After Successful Campaign". IndieWire. Retrieved 2018-05-14.
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