Legion M (founded 2016) is a production company that styles itself as the world's first fan-owned entertainment company. Legion M was founded by Paul Scanlan and Jeff Annison in March, 2016. Legion M is the world's first entertainment studio that allows fans to invest in and be part of the creation of new movies, television shows, virtual reality and other pieces of entertainment content. Scanlan and Annison were able to create Legion M after the SEC passed Title IV of the JOBS Act, which allowed non-accredited investors to make investments in small businesses. Legion M is currently partnered with Seth Green, co-creator of Emmy-winning TV series Robot Chicken, Gaston Dominguez of Meltdown Entertainment, and gaming studio Animal Repair Show.
Legion M added a unique creative ally to its side by partnering with Alamo Drafthouse Cinema. This partnership adds a distribution component for Legion M as well as strengthening its expertise in film.
On August 14, 2016, Legion M closed its initial funding round, and became the second company utilizing Reg. CF to earn $1,000,000. This record setting offering was completed in just three months with the contributions coming from over 3,000 investors.
Legion M worked with the SEC to launch their 2nd funding round as a Reg A+ in March 2017. A Reg. A+ round allowed for a higher funding threshold ($50,000,000), which provides two benefits to Legion M; the addition of capital, and the possibility of additional individual investors. The latter benefit being especially important as Legion M strives forward toward its goal of 1,000,000 investors. Their Reg. A+ 2nd round was extended through Sept. 2, 2017 to accommodate for the growing demand from fans.
On May 16, 2018, Paul and Jeff rang the opening cowbell on one of their frequent Facebook Live updates to announce the launch of Legion M's round 3 as a Reg. CF. With round 3 closing date right around the corner, they have already oversubscribed again.
On December 12, 2018, Legion M and Chicken Soup for the Soul Entertainment ("CSS Entertainment") announced the formation of a strategic partnership to bring community driven content to television fans. The companies will develop a variety of crowdsourced TV projects, including POSITV, a weekly collection of inspirational news stories submitted by people from around the world; a sketch comedy show called Comedy Royale where viewers play the role of production executive as up-and-coming creators, actors, and others compete for cash, prizes, and opportunities to break into the entertainment industry; a Shark Tank-like show called Up$ide where viewers become venture capitalists as entrepreneurs pitch their ideas on live television; and a weekly music showcase called New York Rock Exchange that puts audience members in a music executive's seat. Another series, titled Legion M, will allow creators and directors to pitch their TV or film concepts to a TV audience who will green light their favorite projects into production.
