Approaching £350k Investment
We are approaching £350k investment. This was my update on Crowdcube. I have shamelessly re-published it here. The graphic is a good one as it sums up the business model in one image.
It is amazing to think that Utopia Road, with our star cast of Anjelica Huston, Rebecca Hall and Garrett Hedlund, shoots this Summer. We are approaching £350k and I am excited.
Most of the money we raise on Crowdcube will go into Utopia Road - the debut feature of LA visionary artist Rosson Crow.
The plan is to recycle the money that comes back from Utopia Road and re-invest it into the second movie - Crazy Blue. This is a movie that we are casting (now!). The third project, Cohen & Cohan is being re-written as TV series (now!) and the plan is to take this to a broadcaster. The fourth project is called Bucharest Bluff and we are in the exciting stage of developing it (now!).
There are two further projects we will add to the slate by the end of this year. Both are super commercial, in my opinion. If you want to know what they are, ask me.
We created this graphic that explains the flow of money through the current slate of four projects - which will quickly grow to six projects by December 2018. At each stage, the capital returns back to Movie Collective which is then reinvested into the next project.
We believe this is clever and sustainable and it makes sense to do this. No one is taking a salary or fee to do this. Not me, not Cassian, not Muireann or Evan or Matt Wood.
At each stage, there is an opportunity for a breakout hit. Yes, this is where the risk is. But that risk is offset because there is a slate of projects that are being developed (now!). That risk is offset because the movies are low budget. That risk is offset because Cassian Elwes has the experience to sell movies and get the money back.
We took a conservative view of how this can work. And some prospective investors have not been excited by it. I accept that. But Matt Wood, myself and Cassian Elwes have a duty to paint the blackest of pictures. But the reality is that only 20% of all startups ever get to their fifth birthday. Don't back the idea. Back the people. Those that meet me or Cassian or Matt Wood often invest.
What is really exciting, is this. I will say it again. We don't have to wait for the money to return from Utopia Road in order to get the other projects going. And we are not waiting. Muireann Price and I spent this morning looking at casting suggestions for Crazy Blue. Because we are not EIS, we don't need to have 90% of the controlling and economic rights of "Crazy Blue Ltd" or "Cohen and Cohan Ltd" to get those projects started. I am constantly in conversation with Cassian about the talent that we can attach on the next project. It' s in his interest. He is the major shareholder of Movie Collective.
We are one big movie star saying "Yes" away from instant success - especially on Crazy Blue - which is low budget. This is how the business works. Talent is the currency and in Cassian Elwes we have one of the best producers of his generation. In Crazy Blue, I have written a lead role that would be a perfect star vehicle that doesn't require a big budget.
I met with a couple of our larger investors recently. One is an old friend called Ian - a lawyer and a wonderful documentary filmmaker. Another is a new friend, an accountant called Andrew - who is also a wonderful travel writer.
Both men understand the risks - after all, one is an accountant and the other is a lawyer - but both men also recognise that unless they take a risk, new stories that deserve to be told won't ever see the light of day.
To both those men and every single one of the investors who places their faith in us, we will do everything possible to repay that faith, not just in building a sustainable film business but in putting good movies on the screen.