Fan-Owned Media, Movie-Making and Catching up with Jeff Annison

In this episode of Inside Startup Investing, host Chris Lustrino welcomes back Jeff Annison, co-founder and President of Legion M, a pioneering fan-owned media company. Legion M leverages equity crowdfunding to unite a million fans in revolutionizing the media landscape. Annison discusses the company's journey, its significant milestones, and the future trajectory in democratizing media production.

Highlights include…

• Legion M has raised approximately $20 million for the studio and $24 million including film investments. Over 50,000 investors have participated, making it a significant fan-owned entity. [5:05]
• Shift from small investments to financing and producing their own films. [9:45]
• Fans can invest directly in films and receive a portion of the royalties. Investors get returns before the company or even the talent involved. [10:30]
• Upcoming major films: "The Man in the White Van" releasing in December; a true-crime thriller with Sean Astin and Ali Larter. "My Dead Friend Zoe" featuring Morgan Freeman and Ed Harris; won Audience Award at South by Southwest. [12:56]
• Development of "Defiant: The Story of Robert Smalls," sourced from the Legion M community. Highlights the power of fan engagement in identifying compelling stories. [15:00]
• Owning IP provides long-term revenue streams and monetization opportunities. The company is focusing on creating and owning content outright. [22:03]
• Insight into the economics of production vs. distribution roles. Plans to engage in both to maximize revenue based on market conditions. [25:50]
• The 50,000-strong investor base aids in marketing and amplifying film reach. Community acts as brand ambassadors, driving word-of-mouth promotion. [33:40]
• Attracts top talent and industry partners due to the engaged fan base. Provides leverage in negotiations and unique marketing advantages. [38:35]