new to entertainment. A number of filmmakers have used sites such
as Kickstarter and Indiegogo to finance movies. In return, fans
might get T-shirts or DVDs of the film. With Legion M, however, fans can
buy a stake in the company’s success — or failure — for $7 a share.
Calif., company was recently launched by Jeff Annison and Paul Scanlan,
both Emmy winners with years of experience in the entertainment business.
They previously worked at MobiTV, which supplies video to mobile devices, and
New York Rock Exchange, a service that allows consumers to co-own music with
Although Legion M is not a publicly traded
company, anyone can buy shares in the company. Once purchased, an investor’s
shares are legally locked for a year, after which they can be freely sold. The
shares are expected to be traded on a formal exchange like other stocks though
a central trading platform has yet to be established.