Legion M: Where we are now, and where we aim to be.
With the end of Round 10 upon us, we wanted to take a moment to highlight a section from our 2024 annual report that outlines our vision of where Legion M is today…and where we intend to go from here.
At Legion M, our mission is to create long-term value for shareholders by building a company that’s financially successful and culturally significant. And hopefully a lot of fun along the way!
We wanted to take a moment to outline where the company is today, and where we aim to be tomorrow.
EARLY-STAGE COMPANY
Though Legion M has been in business for over 9 years, we’re still “early-stage” when it comes to funding. To date we’ve raised over $22 million. Compared to other equity-crowdfunding companies, that's a lot of money, but for movie studios it’s just a drop in the bucket…our entire existence has cost less than the first 15 minutes of a Marvel movie.
If you compare Legion M to VC-backed companies, the amount of money we’ve raised (and the valuation we’re currently raising at) puts us squarely in the range of a median VC-backed company in the midst of a Series B after having completed a Seed and Series A.
NOTES: Data in this chart is approximated from graphs published by Carta, which are available at the following links: (1,2,3,4). This data has not been verified by Legion M, and we make no representations as to its accuracy. Investors must rely on their own due diligence, including finding and verifying their own data.
THE “CHASM OF INDEPENDENT FILM”
Entertainment is an industry where business models change based on project scale. The economics of micro-budget films differ from “festival darlings”, which differ from major studio releases. Each tier has its own risks and opportunities.
When we started, Legion M was nothing more than a bold idea -- we had no money, no community, and no track record making movies. Over the past 9 years we’ve built one of the largest communities in equity crowdfunding history and grown — step by step — to become an award-winning studio with a demonstrated ability to develop, finance, produce, and distribute critically-acclaimed films.
While we’re proud of how far we’ve come, we still have a long way to go to achieve our goals. The tier we’re currently operating in (producing sub $10 million independent films) is notoriously difficult to make money in. This isn’t the mountaintop – it’s the “chasm of independent film,” just the latest in the series of obstacles we’ll need to get past to reach the mountaintop.
We didn’t create Legion M because we believed 50,000 investors could make a lot of money in independent film -- we built it because we believe 1,000,000 fan-owners could make Legion M one of the most influential forces in Hollywood. This is our North Star – it’s what guides us and drives us forward every day.
ONWARD AND UPWARD!
With that in mind, our single-minded goal is to continue our relentless pursuit of growth. We know that if we can continue to grow our community and our capabilities, we’ll evolve beyond the stage we’re in today to larger films and larger releases where greater potential for profits are possible.
Just as our projects over the past 9 years served as stepping-stones that grew Legion M from “bold idea” to “award winning studio,” we believe our projects of today will serve as stepping-stones to tomorrow – growing step by step until Legion M realizes its full potential.
Onward and Upward!
-Jeff, Paul, and the Legion M team
PS: If you’re considering an investment in Round 10, be sure to do so before the round ends soon!
PPS: Want to join the Paul and I for a live discussion of Legion M? We're hosting a new investor webinar next Wed May 28th at 1PM PT. Register here if you'd like to join us.
RISK VS. REWARD
Early stage investments like Legion M are speculative, illiquid and involve a high degree of risk. Most small businesses fail, so you should never invest more than you can afford to lose (not in Legion M or any startup).
That said...companies that succeed can go on to change the world. If you want to take a swing at making history, we'd love to have you aboard our moonshot!
In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. Legion M has filed a Form C with the Securities and Exchange Commission in connection with its offering, a copy of which may be obtained here: bit.ly/offering-doc