CFB Filmmaker Lisa Katselas is producing a horror film called Somewhat Dead but has taken an unusual approach to financing. Looking past Kickstarter, Lisa has crowdfunded her film with I-Bankers Direct, an equity crowdfunding site that operates under Title II of the JOBS Act.
On Thursday November 14, 2013 at 4:00 Eastern Lisa will join CrowdFundBeat for an exclusive interview to discuss her experience raising money for her film through equity crowdfunding.
The following is a press release issued by I-Bankers Direct:
New York, NY (October 30, 2013): I-Bankers Direct (www.ibankersdirect.com) announced today its first film industry offering in partnership with award-winning producer Lisa Katselas(Richard III, Mrs. Dalloway) for the new horror film, Somewhat Dead. This marks the first time a film will be financed using new SEC regulation 506(c), which allows private film producers to advertise private placement financing opportunities for film productions.
“After analyzing the investment potential of a well-made, low budget horror film in this booming genre, we felt it made sense to make this opportunity available to investors on the I-Bankers Direct funding platform,” stated Mike McCrory, CEO and Co-founder of I-Bankers Direct. “Horror films have traditionally performed well at the box office, but so far this year horror films have taken in just shy of $500 million, which is 50% higher than at this point in 2012, which itself was up 20% from 2011.”
“Somewhat Dead is a horror film at heart and is truly scary,” explained Katselas, “but at the same time, the film contains humor, dramatic sophistication and poignancy–meaning that it is an expertly told unique story with characters that the audience will care about. Horror audiences have evolved and expanded in recent years. For a film to genuinely scare today’s audience, viewers have to feel a real connection to the characters–and for me that is the cornerstone of good storytelling.”
The low budget horror genre is currently exploding at the box office. This year’s Insidious: Chapter 2 made $92 million at the box office on a budget of $5M, The Purge made $86 million at the box office on a budget $3M and The Conjuring made $314 million on a budget of $20M. They had bigger opening weekends than many of the huge Hollywood studio summer blockbusters like Pacific Rim, White House Down, The Lone Ranger and After Earth, which all had budgets of $100M or more and major stars in the lead roles. However, this year is not an anomaly with horror films; horror films, much like action-adventure films, have consistently had the best risk/reward ratio in the film industry. Because of the growth in global video-on-demand and streaming services, even horror films that don’t perform well at the box office have a good chance of recouping their modest budgets and go into profit.
Until now, online film investors had no way of connecting with filmmakers other than through websites like Kickstarter and Indiegogo, which are not investment sites, because they accept donations only.
By investing in Somewhat Dead, investors will have an equity stake in the film and a net profit participation for the life of the film. According to the level of investment, investors will also have the opportunity to receive a credit on the film, attend premiers and parties and even a chance to play a role in the film. The film also has franchise potential and merchandizing potential from video games to Halloween masks, all of which the investors will get to share in.
I-Bankers Direct allows accredited investors to invest a minimum of $5,000 in Somewhat Dead. This platform also gives accredited investors 24/7 online access to the film’s offering documents, management conference calls, video presentations, and related materials to assist with their decision-making. To register, visitwww.ibankersdirect.com.
About Lisa Katselas
Lisa is a feature film producer and professor. She is well known for her screenplay development skills and her independent film production knowledge. Lisa produced the film Richard III, which starred Sir Ian McKellen, Robert Downey Jr. and Annette Bening and was directed by Richard Loncraine. The film received 2 US Academy Award nominations and a Golden Globe nomination for Ian McKellen. The film also received 5 British Academy Awards nominations, including Best British Film, Best Screenplay Adaptation, and Best Actor, and won for Best Costume and Best Art Direction. Lisa also produced the film Mrs. Dalloway, which starred Vanessa Redgrave and Natasha McElhone andwas directed by Marleen Gorris. It won the prestigious Evening Standard Award in the UK for Best Adapted Screenplay, and was chosen as the opening night film at the Toronto International Film Festival.
About I-Bankers DirectThe I-Bankers Direct platform provides accredited investors with the ability to evaluate and invest in promising business opportunities, based on their own schedule and from any Internet-connected device. (Accredited investors include individuals who have a net worth, or joint net worth with their spouse, that exceeds $1 million excluding the value of their primary residence, or an individual with annual income exceeding $200,000 in the most recent two years).
Headquartered in Stamford, CT, I-Bankers Direct maintains offices in New York, Palo Alto, and Lugano, Switzerland. Interested accredited investors are invited to visit www.ibankersdirect.com to register as users of the site. Registration is free, quick, and permits investors to receive regular updates regarding investment opportunities as they become available on the platform. Growth-stage companies with an interest in raising capital via the I-Bankers Direct platform can click here to submit a proposal for consideration.