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Overview
We founded Legion M because we saw a once-in-a-lifetime opportunity to create an entertainment company OWNED by fans.
Why? Because no matter where you sit in the value chain, a built-in audience can be one of the most valuable assets in entertainment. By uniting fans as shareholders, we’re attempting to create a company with a built-in audience for every project it makes.
Legion M’s logo is the Roman numeral for 1 million. That's because our long-term goal is to unite 1 million fans as shareholders of the company. Our mission is to create a massive grassroots audience — a Legion of fans — that we believe could make Legion M one of the most influential companies in Hollywood.
TEAM
Co-founders Paul Scanlan and Jeff Annison are Emmy-winning serial entrepreneurs and digital pioneers. In 1999, the duo (along with one other cofounder) started MobiTV, the first company in the U.S. to launch live streaming television on mobile phones. From 2003 to 2009, the trio grew the company into a worldwide leader in streaming media with 300+ employees, more than $100 million of VC investment, and an Emmy Award for innovation in television.
In addition, Legion M has attracted a top-tier advisory board that includes legendary actor William Shatner, billion-dollar producer Dean Devlin, author/entrepreneur Eric Ries (author of “The Lean Startup"), and current/former executives from Netflix, Sony, Lucasfilm, Epic Games, and MGM.
Traction
HOW WE MAKE MONEY
Like many early stage companies, Legion M is not focused on short-term revenue, but on building what we believe will become long-term competitive advantages for the company. We're willing to sacrifice short-term revenue for long-term strategic gain because we know the bets we make as a Legion of 35,000 pale in comparison to the bets we'll be able to make as a Legion of 1,000,000.
That said, Legion M has already demonstrated an ability to generate revenue from a diverse array of both traditional and non-traditional revenue streams, including:
Since Legion M was founded in 2016, the company has successfully closed 8 rounds of fundraising and built one of the largest shareholder communities in JOBS Act history.
why invest
PROJECTS
Since Legion M was founded in 2016, we’ve developed a slate of projects diversified across genre, medium, business model, and risk profile. We’ve demonstrated an ability to work with top tier partners, from billion-dollar producers like Dean Devlin (Independence Day, Stargate, Leverage, The Librarians) and Michael Uslan (Batman, The Dark Knight, Joker) to renowned creators like Stan Lee (creator of the Marvel Universe) and Kevin Smith (Clerks, Dogma, Mallrats) and top-shelf distribution partners including NEON (Parasite, I Tonya), Bleecker Street (The Assistant, Beasts of No Nation), Searchlight (JoJo Rabbit, The Shape of Water), SpectreVision (No Man of God, Color out of Space) and Nederlander Worldwide Productions (Hamilton, Wicked, The Lion King).
the problem
Entertainment can be extremely lucrative, but is also unpredictable. Consumer trends, technologies, and distribution models are constantly changing. Movies and TV shows are expensive bets, with budgets that can reach the tens or hundreds of millions of dollars. Every project has potential to be a breakout hit...but even the biggest names in the business sometimes strike out.
How can you improve your odds of success?
the solution
While technologies and trends will come and go, there’s been one constant in entertainment since the earliest days of silent film: the importance of the audience. It's the audience (or lack thereof) that determines success or failure, and the audience that’s responsible for every penny in ticket sales, subscription fees, and advertising revenue.
That's why a company owned by fans is such a powerful idea. When we pool our collective power, we have potential to:
We believe that by harnessing the power of fans, Legion M can create sustainable long-term competitive advantages that could potentially make Legion M one of the most influential companies in Hollywood.
Opening the gates of hollywood
Most companies view investors simply as a source of capital. For Legion M, they are the foundation of our business. We are a community as well as a corporation, and our job is to create value for this community with things like:
The wonderful thing about a fan-owned company is that financial ROI and fun are not necessarily mutually exclusive. The more engaged and excited our audience is, the more buzz and value we can create for the project, which in turn increases the project’s chances of success to the benefit of the company and all its shareholders.
AN OFFERING STATEMENT REGARDING THIS OFFERING HAS BEEN FILED WITH THE SEC. THE SEC HAS QUALIFIED THAT OFFERING STATEMENT, WHICH ONLY MEANS THAT THE COMPANY MAY MAKE SALES OF THE SECURITIES DESCRIBED BY THE OFFERING STATEMENT. IT DOES NOT MEAN THAT THE SEC HAS APPROVED, PASSED UPON THE MERITS OR PASSED UPON THE ACCURACY OR COMPLETENESS OF THE INFORMATION IN THE OFFERING STATEMENT.
THE OFFERING CIRCULAR THAT IS PART OF THAT OFFERING STATEMENT CAN BE FOUND HERE.
CROWDCHECK VERIFIED REPORT CAN BE FOUND HERE.
THE OFFERING MATERIALS MAY CONTAIN FORWARD-LOOKING STATEMENTS AND INFORMATION RELATING TO, AMONG OTHER THINGS, THE COMPANY, ITS BUSINESS PLAN AND STRATEGY, AND ITS INDUSTRY. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON THE BELIEFS OF, ASSUMPTIONS MADE BY, AND INFORMATION CURRENTLY AVAILABLE TO THE COMPANY’S MANAGEMENT. WHEN USED IN THE OFFERING MATERIALS, THE WORDS “ESTIMATE,” “PROJECT,” “BELIEVE,” “ANTICIPATE,” “INTEND,” “EXPECT” AND SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS, WHICH CONSTITUTE FORWARD LOOKING STATEMENTS. THESE STATEMENTS REFLECT MANAGEMENT’S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE THE COMPANY’S ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE CONTAINED IN THE FORWARD-LOOKING STATEMENTS. INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON THESE FORWARD-LOOKING STATEMENTS, WHICH SPEAK ONLY AS OF THE DATE ON WHICH THEY ARE MADE. THE COMPANY DOES NOT UNDERTAKE ANY OBLIGATION TO REVISE OR UPDATE THESE FORWARD-LOOKING STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER SUCH DATE OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS.
Legion M is the first entertainment company built to be owned by fans. Enabled by disruptive new securities laws, we're giving you a seat at the table -- and a stake in the outcome -- as we unite fans to shape the future of Film and Television!
Paul Scanlan
Cofounder & CEO
Jeff Annison
Cofounder & President
Terri Lubaroff
COO | Head of Content
Mandy Bardisbanian
Consumer Products and Licensing
David Baxter
V.P. of Development
Taylor Gledhill
Creative Director
Prophetess Branchcomb
Director of Finance & Accounting
Michelle P. Carter
Creative Executive
Eric Lam
Business Operations
Chris Cooper
Marketing/Growth Hacking
Tyler Harmon
Marketing/Growth Hacking
Clare Bateman-King
Worldwide Events and Business Development
Brandi Plants
Media Response Team
Terri Piñon
Community Management
Ramona Snyder
Volunteer Coordinator
Maximum Number of Shares Offered subject to adjustment for bonus shares
03.23.23
Legion M is excited to partner with Fathom Events, Warner Bros., and Lost Odyssey to bring a special 20th anniversary screening of The Extended Edition of The Lord Of The Rings: The Return Of The King to a theater near you. See the triumphant conclusion to Peter Jackson's trilogy -- winner of 11 Academy Awards including Best Director and Best Picture -- the way it was meant to be seen: ON THE BIG SCREEN.
The film will be playing at over 1,000 participating theaters across the US at 7PM local time on Thursday April 13th and Wed April 19th. Theaters in Canada will be showing the film at 7:00 PM local time on Thursday April 20.
Legion M is proud to be a part of this 20th anniversary celebration, and excited to work with Fathom Events, Warner Brothers, and Lost Odyssey. Our deal involves both the element of risk (we're fronting some of the costs for this special engagement) and reward (we get a percentage of the ticket sales). Our hope is that Legion M can make a meaningful difference in ticket sales, and help drive some revenue for the company.
More importantly, we see this as an important prototype for Legion M. Theatrical distribution is in a state of significant flux right now as the combined pressures of (a) at home streaming, (b) COVID, and (c) supply chain issues caused by COVID (i.e. the pipeline of new films) are causing many companies to rethink release strategies.
While this sort of disruption can wreak havoc on large entrenched players, it creates opportunities for smaller, innovative companies like Legion M. We're eager to see what we can do for not just this release, but other potential releases in the future. We're very interested to explore opportunities to work with Fathom, as well as studios like Warner Brothers, for the benefit of all.
Finally, it's worth noting that as a company Legion M LOVES getting people out to theaters. Movies are better with friends, and The Return of the King is a classic that deserves to be experienced on the big screen -- hopefully in a packed theater.
So gear up, grab your allies, and meet us at the gates of Minas Tirith as we unite to battle the forces of evil.
A day may come when the courage of Men fails, when we forsake our friends and break all bonds of fellowship, but it is not this day. An hour of wolves and shattered shields when the Age of Men comes crashing down, but it is not this day! This day we fight!
Onward and upward!
-The Legion M Team
Read the Offering Circular and risks related to Legion M’s Round 9 Offering before investing in that offering. This Reg A+ offering is made available through StartEngine Primary, LLC, member FINRA/SIPC. These investments are speculative, illiquid, and involve a high degree of risk, including the possible loss of your entire investment. You should never invest more than you can afford to lose in Legion M (or any equity crowdfunding offering).
03.22.23
Last Thursday we celebrated the World Premiere of our William Shatner Documentary, You Can Call Me Bill at SXSW. And it was EPIC!
At 92, we're astounded by Bill's energy and his eagerness to engage with the fans. Bill flew in early (he had to get up at 2:30 AM for a 5 AM flight out of LAX) to Austin, TX, for a full day of events, starting with a private brunch where some very lucky Legion M investors mingled with Bill and the filmmakers. Next, Bill was off to deliver the day's keynote interview on the SXSW Stage (moderated by Alamo Drafthouse's Tim League) before a packed audience. After an hour of stories, laughs, and a heartfelt appeal for environmental protection, Bill left the stage to a standing ovation.
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After that Bill gave another interview at the SXSW Studio and answered questions for Legion M investors on a Facebook Live with Co-Founder Jeff Annison.
From there Bill and the filmmakers hosted a meet & greet hangout with investors at The Chive during an investor Happy Hour.
Then — it was SHOWTIME! Bill and the team arrived at Austin's historic Paramount Theatre, SXSW's largest venue, and met the crowd waiting outside.
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Bill and the filmmakers walked the red carpet and made their way to their seats along with other Legion M investors & Shatner fans who turned out for the SXSW premiere.
The theater was electric as director Alexandre O. Philippe introduced the film and thanked the investors who made it possible, asking those who had contributed to the film to stand up and be recognized. When the Legion M production credit came up, the whole theater went wild!
By the time the curtain came down at the end of the film, the audience were on their feet in a standing ovation as Bill and the filmmakers took the stage for his Q&A.
“It's impossible to walk away from Philippe’s film and not think that Shatner is a more complex man than entertainment history has given him credit for.” - Brian Tallerico, RogerEbert.com
“'You Can Call Me Bill' cuts engagingly between the wit and wisdom of William Shatner and a wealth of footage from his career...” - Owen Gleiberman, Variety
“There’s a candor and a rawness here that’s inherently compelling.” - Christian Blauvelt, IndieWire
“... Shatner’s body of work is deeper, more considered and possibly just better than anything he’s given credit for.” - Dan Fienberg, The Hollywood Reporter
After the Q&A, Bill, the filmmakers, fans, and investors headed over to The Chive to party the night away with themed cocktails like "The Rocketman." The crowd included the stars of Evil Dead Rise, Bruce Campbell and Lily Sullivan, director Sam Raimi, and no less than FIVE people (including Bill) who have been into space. The giant slide from one floor to another, a feature of the awesome venue, was in use all night.
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Well past midnight, as the incredible day came to a close, Bill said goodbye to the investors and fans, then read the first reviews to come in from Variety, RogerEbert.com, The Hollywood Reporter, Indiewire, and others. The film currently has a Rotten Tomatoes score of 100% after the major publications made their reviews.
We want to say THANK YOU to all the investors in Legion M and directly in the documentary who helped make this film happen. The premiere was the culmination of more than a year of hard work on the part of the filmmakers and to have had such a positive reception from the audience and critics bodes well as we work to find a home for You Can Call Me Bill. This project and all the events at SXSW are testament to the growth our small company has made over the years. Wish us luck as we continue the sales process, and CONGRATULATIONS to us all!
We also want to take a moment to show our appreciation for our sponsors who helped make an incredible night even more memorable!
Onward and Upward! 🥳
Join Over 40,000 Investors In Legion M
Read the Offering Circular and risks related to Legion M’s Round 9 Offering before investing in that offering. The Round 9 Offering is a Reg A+ offering made available through StartEngine Primary, LLC, member FINRA/SIPC. These investments are speculative, illiquid, and involve a high degree of risk, including the possible loss of your entire investment. You should never invest more than you can afford to lose in Legion M or any equity crowdfunding offering.
03.16.23
Cue the music! Tonight is the World Premiere of Legion M's William Shatner documentary You Can Call Me Bill at the SXSW (South By Southwest) Film Festival. We're in Austin, where Bill just finished a SXSW Keynote session and is about to walk into a Happy Hour with Legion M investors. But before that begins we wanted to take a moment to say hi to all the folks that couldn't make it to Austin.
Join us around 3:15 on the Legion M Facebook page to say hi and ask us your questions!
Also, follow @LegionMOfficial on Instagram, Twitter, & Facebook to keep up with updates through the evening!
Onward and Upward!
-The Legion M Team
******
JOIN OVER 40,000 INVESTORS IN LEGION M!
Read the Offering Circular and risks related to Legion M’s Round 9 Offering before investing in that offering. The Round 9 Offering is a Reg A+ offering made available through StartEngine Primary, LLC, member FINRA/SIPC. These investments are speculative, illiquid, and involve a high degree of risk, including the possible loss of your entire investment. You should never invest more than you can afford to lose in Legion M or any equity crowdfunding offering.
03.16.23
Tonight is the world premier of You Can Call Me Bill at the SXSW (South by Southwest) Film Festival. In anticipation, we've worked with renowned poster designer Andrew Bannister to create a special poster to commemorate the occassion. You can see the artwork below, or read the exclusive article on Collider.
Onward and Upward!
-The Legion M Team
******
JOIN OVER 40,000 INVESTORS IN LEGION M!
Read the Offering Circular and risks related to Legion M’s Round 9 Offering before investing in that offering. The Round 9 Offering is a Reg A+ offering made available through StartEngine Primary, LLC, member FINRA/SIPC. These investments are speculative, illiquid, and involve a high degree of risk, including the possible loss of your entire investment. You should never invest more than you can afford to lose in Legion M or any equity crowdfunding offering.
03.10.23
SXSW opens tonight, which means that many sites have been publishing their list of “must see” films. It’s been exciting to see how many of them have included our William Shatner documentary, You Can Call Me Bill.
This is a great sign. There are many different metrics for evaluating the success of a film, but “how many people want to see it” is obviously one of the most important factors when it comes to a movie’s commercial prospects.
The fact that the outlets below looked at ALL the films/shows playing at the festival (over 120 in all!) and put ours on their shortlist is an honor. Especially when you consider the caliber of the competition – the odds of getting into a major film festival like SXSW are about the same as getting into an Ivy League school. It’s like our movie got into Harvard–and now has made the dean's list!
The next huge test will come Thursday when the film premieres. That will be the first time we see how the movie is received by a live audience in a real theater. We’re looking forward to that -- a premiere is one of the most exciting (and also harrowing!) nights in the release of a film!
In the meantime, we believe everyone at Legion M – both team and investors alike – can be proud of what we’ve accomplished together, and bask a bit in the glow of what we’ve already achieved.
Onward and upward!
ROLLING STONE
20 Movies and TV Shows We Can’t Wait to See at SXSW 2023
VARIETY
THE CHIVE
The film and TV premieres we’re hoping to catch at SXSW 2023
LA TIMES (Print Edition)
From the Buzzy to the Offbeat at SXSW
THE CRITERION COLLECTION
AUSTIN AMERICAN-STATESMAN
What star-studded movies, TV shows, documentaries to see at SXSW 2023 in Austin
SCREEN ANARCHY
03.04.23
The next couple weeks have the potential to be some of the most impactful in the history of Legion M. That’s because our film, You Can Call Me Bill, will be premiering at the South By Southwest (SXSW) Film Festival and starting the sales process. This has ramifications for all investors in Legion M, as well as those that invested directly in the film.
If you aren’t familiar, one of the things that makes You Can Call Me Bill unique amongst Legion M projects is the fact it was entirely financed by fans. This was the first time we ever offered fans the ability to invest directly in a Legion M title, and participate in any revenue generated by the film right alongside Legion M (and William Shatner).
When you invest in Legion M, you are investing in the company. Your ROI is based on how the company does over time -- if we succeed you can win, if we fail you lose. The ROI of an investment in You Can Call Me Bill is solely based on the success of the film -- if it does well investors can win, if it flops they can lose.
Investors were given a chance to invest directly in "You Can Call Me Bill"
We created the offering with fan-first financing terms intended to provide transparency and simplicity for investors. Hollywood has a reputation for complex accounting that can lead to sucker bets and bum deals. As a company OWNED BY FANS, we’re trying to change with terms that put fans first, and are designed to let you know exactly where you stand.
Like most things Legion M attempts for the first time, we treated this as an experiment. So far, the results have been a resounding success – the $750,000 offering was fully subscribed in less than 4 days. It was fully subscribed before we even got a chance to issue our press release, announce the film was accepted into SXSW, or have Bill tweet it to his 2.5MM Twitter followers.
While the financing of the film was an unequivocal success, the REAL TEST comes as we go through the sales process. This kicks-off next week when buyers (i.e. streamers, distributors, etc.) have a chance to see the film for the very first time. Director Alexandre O. Philippe, Producer Kerry Deignan Roy, and the Exhibit A team have been working around the clock to put on all the finishing touches - the final package was just turned over a day or two ago for mastering of the final DCP (“Digital Cinema Package”) that will play at the premiere Austin for South By Southwest.
The goal of the sales process is to find a good home for the film with one or more distributors around the world. The results of these sales will determine how much money, if any, the film makes, which in turn will determine the ROI for all the individual investors who financed the film, along with how much money Legion M makes as the producer of the film.
To assist with the sale we’ve partnered with XYZ Films as our sales agent for You Can Call Me Bill. If you aren’t familiar with what a sales agent is, they are kind of like a real-estate agent. They help us sell the film and earn a commission on the sales price. Here's what Pip Ngo, Senior Vice President of Sales & Acquisitions at XYZ Films, had to say about this project:
"William Shatner is an icon and a legend, and XYZ Films couldn't be more thrilled to partner with Legion M on this special film that celebrates his exceptional life and career. The support of Legion M's community will be crucial to the success of this movie and we're excited to bring this to audiences together."
-Pip Ngo, XYZ Films
We believe we’ve done everything we possibly can to set the film up for success. XYZ is one of the best in the business. That said, the sale of a film is always a crapshoot. Unlike a realtor selling a house, the value of a movie is HIGHLY subjective (this is art, after all). The fact our film features a worldwide icon and was accepted into a prestigious film festival works heavily in our favor, but at the end of the day the price we receive will depend entirely on how this film fits into the worldwide marketplace. This is dictated not just by the quality of the film, but also by macroeconomic factors like supply and demand of similar films, the state of the industry and even the worldwide economy.
This is an exciting time for Legion M. And while we don’t yet know the financial impact of You Can Call Me Bill, we feel like we’ve already won:
We’ve demonstrated that the Legion M community can finance a feature film (by fully subscribing the offering in just 4 days!)
We’ve demonstrated that Legion M can take a film from inception through release (and get into one of the largest film festivals in the world!)
We’ve demonstrated that FAN-FIRST FINANCING can work – especially if we get a good sale. This not only puts us in the driver seat when it comes to choosing new projects, it’s also an extremely capital efficient business model. That, however, is a different topic for a future update…
As we mentioned at the outset, the next few weeks are really important for Legion M and everyone associated with You Can Call Me Bill. So if you have ANY pull when it comes to manifesting destiny – whether it’s crossing your fingers, saying a prayer, or sacrificing a chicken – please do it now. We’ll take all the help we can get!!
Onward and Upward!!
Paul, Jeff, and the Legion M Team
Did you miss the chance to invest directly in this documentary? You can still invest directly in Legion M, and have a stake in ALL our projects. Join us in making history by investing in Round 9 on StartEngine!
Read the Offering Circular and risks related to Legion M’s Round 9 Offering before investing. The Round 9 Offering is a Reg A+ offering made available through StartEngine Primary, LLC, member FINRA/SIPC. These investments are speculative, illiquid, and involve a high degree of risk, including the possible loss of your entire investment. You should never invest more than you can afford to lose in Legion M or any equity crowdfunding offering.
02.16.23
As a company with a stated goal of having 1,000,000 shareholders, people often have questions about how decisions are made at Legion M. They wonder whether it’s a democracy where everyone votes on everything (definitely not) or whether the opinions of our shareholders mean anything at all (absolutely!) The fact is, we’ve put a lot of thought into how decisions should be made at a fan-owned company, and we thought it was worth taking a moment to share those thoughts.
Wisdom of the Crowd
The foundational idea behind Legion M is that a company owned by a large audience of fans can develop competitive advantages. One of the ways we hope to do this is by harnessing the “wisdom of the crowd” when making company decisions.
When it comes to entertainment (or any business, really), it’s remarkable how many REALLY BIG DECISIONS come down to the gut feel of a single executive. Or the collective gut feel (subject to all the personal and corporate politics at play) of a very small group of executives. These people determine what we watch by deciding what makes it to the screen and what never sees the light of day. The results of these decisions can mean the difference between success and failure for an organization.
Whenever possible, Legion M tries to bring our community to bear on these decisions. We believe our community as a whole can be much smarter than we are as individuals. We also believe there is no better resource on the planet for evaluating entertainment projects than a large audience of the very people who buy tickets, pay subscription fees, and decide what to watch. Content may be king, but the audience is the kingmaker, which is why we believe a company OWNED by the audience has such great potential.
We work hard to create fun, gamified tools like M-Pulse and Film Scout that give our community a direct voice in the decision making process. For example, the feedback we received from our army of Film Scouts led directly to Legion M’s involvement with Memory: The Origins of Alien (2019) and Save Yourselves! (2020). The decisions to move forward with many of the projects on our slate were made based on feedback from M-Pulse polls. So were the decisions NOT to move forward with many projects that didn’t poll well within our community.
In addition to M-Pulse and Film Scout, we also gather input informally via surveys, live Q&As, online development meetings, and discussions in our members-only FB group. For example, the idea of developing a feature film about the life of Captain Robert Smalls (Defiant) came directly from our member’s only Facebook group. As a company, we make time for our executives to interact with shareholders, whether it be online via social media or in person at comic-cons, film festivals and other Legion M events. While this adds overhead for Legion M, we believe it’s appropriate – our shareholders are the ones that own the company after all. More importantly, we think harnessing the “wisdom of the crowd” can help us make better decisions that ultimately make the company more successful.
Business Matters
While we believe a large audience of fans is one of the best sources in the world for helping us evaluate projects and creators, we don’t think it’s particularly well suited to negotiating deals or navigating the “business side” of entertainment. That’s because the information needed to make these business decisions is often nuanced and highly confidential. The legal and economic intricacies of the entertainment industry are notoriously complex – which is one of the reasons you hear so many horror stories about investors getting ripped off by bad deals and “Hollywood Accounting”.
Film and TV is one of the most ruthlessly competitive industries on the planet. To build something that can stand the test of time, you need experienced hands on the wheel. For that we’ve got the Legion M team, as well as a deep well of knowledge from an advisory board that has centuries (literally!) of combined experience in everything from modern day streaming strategies to traditional film and television release models.
Our job as a management team is to balance the "will of our shareholders" with input from our advisors, and use that information to chart the course of the company. But our North Star will always be our community. You own the company after all – we work for you.
Corporate Governance
One of the decisions we had to make early in the formation of Legion M was how to govern a company that could (hopefully!) someday have 1,000,000 investors on its cap table. Traditional publicly traded companies (even those like Disney with lots of retail shareholders) are primarily owned by large institutional investors. Legion M is designed to be the inverse – a company built from the ground up to be owned by a very large number of small, casual investors with very little experience (or interest in) corporate governance.
Our solution was to employ a dual-class stock structure modeled after those used successfully at companies like Facebook, Google, and Berkshire Hathaway. While the financial terms of ALL Legion M shares are identical (i.e. the shares owned by the founders and large investors have the EXACT SAME financial terms as the shares owned by small $40 investors), the founders and seed investors have a 10X voting preference that concentrates decision-making power in their hands. This not only ensures corporate decisions are made by experienced professionals, but also dramatically reduces the chance of a large investor buying blocks of shares in an attempt at a hostile takeover. And because there are no financial preferences (i.e. everyone's stock has the exact same financial terms) we're all in the same boat -- we win together or we lose together.
That said, it’s worth noting that in the company’s entire 6+ year history we’ve only had one decision that needed an official shareholder vote (a proposed stock split). In that case the founders agreed to vote their shares in accordance with the results of the vote by the equity crowdfunding investors. Even though the founders had the power to make the decision themselves, they left it up to the community to decide.
You Don’t Make Great Art By Committee
Finally, one of the questions we’re frequently asked is how much creative input our community has into our film and TV projects. Our answer can be summed up by a simple motto:
You don’t make great art by committee. You make it by empowering great artists…and then staying out of their way.
What this means is that while we lean heavily on our community to determine what artists and projects Legion M backs, when we invest in an artist we are investing in THEIR vision. We’re happy to offer our community as a resource for everything from focus group testing to crowdsourcing ideas, but it’s entirely up to the artist to determine if they do so and how.
When we unite, we can do anything!
At its core, Legion M is about uniting fans to leverage our collective strength. Individually, we have no power, but together we’re responsible for a multi-trillion dollar global industry. Entertainment is home to some of the most valuable companies in the world – but their value comes from the people like us that buy the tickets, pay the subscriptions, and decide what to watch.
And while nobody’s attempted anything quite like Legion M before, we’re dedicated to developing systems and processes that allow us to tap into the true power of community – creating an entirely new type of company that we believe has the power to change the world.
Onward and Upward!
02.09.23
As you’ve no doubt heard by now, our documentary about William Shatner You Can Call Me Bill will premiere at the SXSW Film Festival in Austin, TX. And we want to know… ARE YOU IN??
The premiere will take place at the prestigious Paramount Theatre in Austin, TX, March 16 at 7:30pm CT.
Legion M has a limited allocation of tickets to the premiere (and potentially, an afterparty!) and we're pressing as hard as we can to try and get more. Our goal is to get as many investors as possible the chance to participate in a bucket-list opportunity like this.
While many of the details are still in flux, we wanted to get the word out and gauge interest. If you're available and interested in coming to the premiere (or already have plans to be at SXSW) please visit the link below and answer a few quick questions:
Once the details have been locked down, we'll provide additional information and figure out the fairest way (e.g. a lottery) to allocate the tickets we have. We plan to allocate some tickets for investors in the William Shatner Doc, and some for investors in Legion M. Those who have made investments in both Legion M and the documentary will be eligible for both pools of tickets.
If you have questions feel free to reach out to team@legionm.com.
Hope to see you in Austin!
-The Legion M team
PS - If you can't/don't get to attend this event, don't despair. We're hoping to create additional opportunities like this in the future, though we won't be able to commit until our distribution partner(s) are secured.
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Read the Offering Circular and risks related to Legion M’s Round 9 Offering before investing in that offering. The Round 9 Offering is a Reg A+ offering made available through StartEngine Primary, LLC, member FINRA/SIPC. These investments are speculative, illiquid, and involve a high degree of risk, including the possible loss of your entire investment. You should never invest more than you can afford to lose in Legion M or any equity crowdfunding offering.
02.03.23
This has been one heck of a week for our William Shatner documentary, You Can Call Me Bill. First, we SOLD OUT our equity crowdfunding offering, funding the entire budget of the film in less than 4 days (more on that below). Now, we’re thrilled to pile on the good news:
WE GOT INTO SXSW! The South By Southwest Film Festival (which takes place every March in Austin, TX) is one of the top ranked film festivals in the world. It’s also one of the most fun. Austin is rad. See the film on the schedule here.
We expect to release specific details about the premiere in the coming weeks, and we’re working hard to secure a limited block of tickets to the show so investors in the doc & Legion M can attend. We are also working on some fun plans for a potential after party, so stay tuned for that info as well.
In case you hadn’t heard, in 2022 we announced that this documentary would be entirely financed by fans, giving those who invested the potential to earn a return based on the revenue generated from the picture. Last Thursday, we launched the offering and notified those on the priority access reservation list. In less than 4 days (before we even got a chance to open it to the public) we sold out the entire offering!
If you missed this opportunity, there’s still time to invest in Legion M as part of our Round 9 Offering on StartEngine. As an investor in Legion M you own stock in the company, which gives you a bit of a stake in all Legion M projects, including the William Shatner documentary.
Onward & Upward,
Paul, Jeff, Terri L, David, Eric, Michelle, Terri P, Mandy, Taylor, Brandi, Greg, Prophetess, Clare, Ramona, Chris, Tyler, Olivia and the rest of the Legion M teamFAQ
What is the difference between investing in Legion M, and investing in this film?
When you invest in Legion M (check out our Round 9 Offering for more information) you are buying stock in the COMPANY, not an individual project. It's like investing in Walt Disney Studios, as opposed to investing in the movie Snow White. Your upside is tied to the long term success of the company and our ability to achieve an IPO or some other exit. If the company succeeds you can win, but if the company goes out of business (which is what happens to most startup companies) you lose.
With this film, we're giving you the opportunity to invest directly in one of our projects (i.e. investing in the movie Snow White). It's more like a profit-sharing arrangement, where you receive a percentage of the Net Picture Revenue right alongside Legion M and William Shatner. In this case, the return on your investment is solely determined by the fate of this film. If it's a hit you can win, if it's a flop you can lose.
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Read the Offering Circular and risks related to Legion M’s Round 9 Offering before investing in that offering. The Round 9 Offering is a Reg A+ offering made available through StartEngine Primary, LLC, member FINRA/SIPC. These investments are speculative, illiquid, and involve a high degree of risk, including the possible loss of your entire investment. You should never invest more than you can afford to lose in Legion M or any equity crowdfunding offering.
01.31.23
It’s honestly stunning what the power of fans, united with a common purpose, can achieve. Like raising the entire budget for our William Shatner documentary You Can Call Me Bill… before we even made a public announcement!
Last summer, Legion M announced a partnership with William Shatner and Exhibit A Pictures (the award winning documentary team behind our project Memory: The Origins of Alien) to produce a documentary about the life of William Shatner. We also announced that we'd agreed with Mr. Shatner (or Bill, as he prefers to be called) to finance the movie entirely with fans via equity crowdfunding, and started taking reservations under a Reg CF "testing the waters" campaign.
Last Thursday (1/26/2023) we launched the documentary offering for reservation holders, giving them priority access until the press release, which went out this AM. However, yesterday afternoon the offering reached its cap – selling out while still in the reservation period. This is great news for the film, and for Legion M!
We'll have more to share about this in the coming days, but for now we want to let everyone know there is still room to join the waitlist. There's no guarantee that folks on the waitlist will get to invest, but there may be a chance if the reservation holders in front of them cancel or are unable to move forward with their investment.
And if you missed this opportunity, there’s still time to invest in Legion M as part of our Round 9 Offering on StartEngine. As an investor in Legion M you own stock in the company, which gives you a bit of a stake in ALL Legion M projects, and will get you first on the list to learn about the next opportunity like this.
Why am I just hearing about this for the first time? It’s already sold out.
We announced this project and started taking reservations last summer, and this news has been included in many Legion M updates and emails since then. We opened the offering last Thursday, and provided reservation holders with 96 hours priority access. Ultimately it sold out during this period – before we even had a chance to make the public announcement.
We’re sorry to everyone who is disappointed they didn’t get to participate, but we had a limited amount of space available and needed to do right by the folks who had already made reservations -- most of them last summer. If you haven’t already, be sure to join Legion M and make sure you are getting our emails so you can be first on the list the next time we announce an opportunity like this.
The William Shatner documentary offering is sold out, but can I still invest?
Even though the offering is SOLD OUT, you can still join the waitlist in case any of the reservation holders back out.
Do I need to be an investor in Legion M to invest in the William Shatner Documentary?
No, you don't need to be an investor in Legion M to invest in the documentary. Or vice versa. The two offerings are completely independent of each other.
As a Legion M investor, don’t I already have a stake in this film?
Yes. Legion M is the production company, and so the company has a stake in the film. This new offering gave people the opportunity to also invest directly in the film.
What is the difference between investing in Legion M, and investing in this film?
When you invest in Legion M (check out our Round 9 Offering for more information) you are buying stock in the COMPANY, not an individual project. It's like investing in Walt Disney Studios, as opposed to investing in the movie Snow White. Your upside is tied to the long term success of the company and our ability to achieve an IPO or some other exit. If the company succeeds you can win, but if the company goes out of business (which is what happens to most startups) you lose.
With this film, we're giving you the opportunity to invest directly in one of our projects (i.e. investing in the movie Snow White). It's more like a profit-sharing arrangement, where you receive a percentage of the Net Picture Revenue right alongside Legion M and William Shatner. In this case, the return on your investment is solely determined by the fate of this film. If it's a hit you can win, if it's a flop you can lose.
*****
Read the Offering Circular and risks related to Legion M’s Round 9 Offering before investing in that offering. The Round 9 Offering is a Reg A+ offering made available through StartEngine Primary, LLC, member FINRA/SIPC. These investments are speculative, illiquid, and involve a high degree of risk, including the possible loss of your entire investment. You should never invest more than you can afford to lose in Legion M or any equity crowdfunding offering.
01.20.23
We get this question a lot, so we figured we'd publish our standard response. It's a good question -- new investors naturally want to understand what the ROI has been for existing investors. That said, equity crowdfunding is unlike most other investments, so it takes a bit of education to understand how it works.
Here's our response:
What is the ROI for investors in previous rounds?
When you invest in Legion M, you are buying stock in the company. It's not like buying stock in a public company like Disney -- it's like buying stock back when Disney was first starting up, and nobody knew if it would succeed or fail.
Unlike public companies, stock in startups like Legion M is not liquid, which means you generally can't sell it until the company IPOs or has some other sort of listing/exit. This is a huge risk, because if the company fails (and most startups do) the stock will be worth nothing but a tax write-off. Startups are very risky, so you should never invest more than you can afford to lose.
That said, startups that succeed can go on to change the world. If you are lucky enough to get in early on a big one, the returns can be very substantial. This is how venture capitalists make their money. The 1% have been investing like this for generations, but it only became possible for the general public a few years ago with the JOBS Act.
So, the short answer to the question of ROI is "nobody knows yet". It's kind of like asking "did you win your bet?" when the game is only at halftime. Our current share price is over 2X what it was in the beginning, so one could argue our early shareholders have "paper gains". But all that is meaningless until the game is over, as all that really matters is the final score. If Legion M is able to successfully IPO or have some sort of exit, our shareholders can win. If we go out of business, they lose.
One thing worth noting is that all the stock in Legion M (including the shares owned by the founders, the shares owned by large investors who have invested hundreds of thousands of dollars, and the shares owned by small investors who just put in $40) have the EXACT same financial terms. So no matter what happens, we're all in the same boat -- we win together or we lose together.
ONWARD AND UPWARD!
*****
Read the Offering Circular and risks related to this offering before investing. This Reg A+ offering is made available through StartEngine Primary, LLC, member FINRA/SIPC. This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment. You should never invest more than you can afford to lose in Legion M (or any startup).
01.18.23
We wanted to give a SHOUT OUT and THANK YOU to over 7,000 investors who have joined our journey in Round 9. In total we have over 7,600 Round 9 investments, which just surpassed the mark we set in our last round (7,582 total investments), and currently ranks as the 6th largest round (in terms of number of investors) in the history of StartEngine.
These are humbling numbers, but we couldn't be more excited about what the future holds for Legion M, and we can't wait to welcome all our new investors to the team. If you are a Round 9 investor who's investment has closed, you should be hearing from us soon with information on how to log in to see your shares on KoreConX (our transfer agent). We'll also be reaching out with welcome information, gift cards and other rewards. Stay tuned!
Onward and Upward!
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Read the Offering Circular and risks related to this offering before investing. This Reg A+ offering is made available through StartEngine Primary, LLC, member FINRA/SIPC. This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment. You should never invest more than you can afford to lose in Legion M (or any startup).
Tier 1
Invest $40+ and receive 1 code for a free Fandango movie ticket to a Legion M movie.
Tier 2
Invest $100+ and receive a $15 Legion M gift card + 1 code for a free Fandango movie ticket to a Legion M movie.
Tier 3
Invest $150+ and receive a $30 Legion M gift card + 1 code for a free Fandango movie ticket to a Legion M movie.
Tier 4
Invest $250+ and receive 10% bonus shares + a $30 Legion M gift card + 1 code for a free Fandango movie ticket to a Legion M movie.
Tier 5
Invest $500+ and receive 12% bonus shares + a $60 Legion M gift card + 1 code for a free Fandango movie ticket to a Legion M movie.
Tier 6
Invest $1,000+ and receive 14% bonus shares + a $120 Legion M gift card + 1 code for a free Fandango movie ticket to a Legion M movie.
Tier 7
Invest $2,000+ and receive 16% bonus shares + a $240 Legion M gift card + 1 code for a free Fandango movie ticket to a Legion M movie.
Tier 8
Invest $5,000+ and receive 2 tickets to the premiere of a Legion M movie + 18% bonus shares + a $120 Legion M gift card.
Tier 9
Invest $10,000+ and receive 4 tickets to the premiere of a Legion M movie + 20% bonus shares + a $240 Legion M gift card.
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