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Disney, Universal and MGM might reign supreme when it comes to Hollywood financing. But a new initiative looks set to give you a slice of the action from the comfort of your own sofa.
The production company behind cult movies like American Psycho, Wall Street, and The Crow has launched a new independent film funding initiative in a bid to embrace emerging talent in an increasingly crowded industry.
Pressman Film, founded in 1969 by the late legendary film producer Edward R Pressman and now led by his son, Sam, looks to enable investors to have a rare glimpse into the inner workings of film production.
A fundraiser for the programme has raised over $1.5m (£1.1m) by 213 investors already. By enabling public participation in the development of film, the project seeks to dismantle industry barriers. The company hopes to create three feature films by the end of its fundraiser, and up to ten if they can reach a target of $5m (£3.8m).
Supporting emerging directors, writers, and actors, it promises investors they can “play a role in nurturing the next generation of cinematic talent and potentially discovering the next big name in the industry”.
“If we look to the future of what the media landscape is, the connections between the producer and the audience is narrowing in a positive way,” Pressman said.
“By linking with an audience, I think we’ll have an exciting digital future, and one that continues to shape films and be a part of a cultural conversation.”
The film investing initiative allows members of the public to fund “innovative” independent film projects for as little as $200 (£154) with top tiers reaching $250,000 (£192,000), $500,000 (£385,000), and $1m (£771,000).
Investors can expect to receive 15 per cent of Pressman Film’s producer fee and 15 per cent of any rights fee from any successfully produced film in the slate. As well as a cut of the profits, depending on investment, the company is also offering investors exclusive perks, such as producer credits, set visits, and premiere invitations.
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“It is happening. We have had a fantastic response already. Some are armchair investors with a minimum entry of $200 but we also had one investment of $1m,” Pressman said.
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