Just Go Grind Podcast: How Legion M Created the First Fan-Owned Entertainment Company

Just Go Grind Podcast: How Legion M Created the First Fan-Owned Entertainment Company

On this week's episode of Just Go Grind, hear from Jeff Annison and Paul Scanlan, co-founders of Legion M, an entertainment company that partners with top Hollywood creators to produce movies, TV and digital content. The startup allows fans to invest in its productions for as little as a $100, leveraging new equity crowdfunding laws.



Key Takeaways:

  • Legion M exists and was inspired by the Jobs Act, which changed equity crowdfunding laws and allowed everyday people to directly invest in startups. The company believes ownership by fans gives them a fundamental competitive advantage over entertainment companies owned by an individual or a corporate conglomerate.
  • Legion M raised $1 million for "Colossal" — a movie starring Anne Hathaway it helped produce — by initially crowdfunding money from 3,500 fans. It's an unimpressive amount of money for Hollywood. But the fact that thousands of investors were baked-in fans "fundamentally changed the calculus" and got Hollywood makers interested in partnering with Legion M.
  • The company believes that involving investors in productions creates a virtuous cycle. Director, producers and investors all win.
"This is this is a moonshot. Our goal is to unite one million entertainment fans, to co-own the company alongside of us and then take over Hollywood." -- Paul Scanlan, Legion M co-founder and CEO

Want to hear more episodes of Just Go Grind? Listen on Apple Podcasts, Stitcher, Spotify, Google Podcasts — or wherever you get your podcasts.

Subscribe to our newsletter to catch every headline.

TikTok competitor Triller is in advanced talks with at least three blank-check companies to go public at a valuation between $3 billion and $6 billion, according to sources familiar with the matter.

That range is broad because the L.A.-based viral video app is seeking to acquire one of its strategic partners, a U.S. subsidiary of a foreign-listed company, before merging with a special purpose acquisition company or SPAC, those sources said. The target company is a tech business that Triller already works with to help monetize its app. If that acquisition goes through, one source said, Triller's revenues would increase from around $100 million to $300 million, and its valuation could be on the higher end of the reported range.

Read more Show less
RELATEDTRENDING