First, Robert Halmi's RHI bankruptcy took out US Bank's entertainment division. Now, this wave of destruction could come crashing right through the front door at JP Morgan's entertainment division. The result for indie producers will be even fewer banks willing to bet on riskier films.
Regardless of whether your considering an individual, a group of dentists, your at home anesthesiologist, or alternative financing models such as crowd funding, tribe funding, "donations", and pre-selling DVDs, etc., (i.e. any non-accredited investor) then you MUST consider Regulation-D of the Securities Act.The following is taken from the Securities and Exchange Commission's website:
The U.S. House overwhelmingly passed its first significant crowdfunding legislation, allowing entrepreneurs to crowdsource up to $2 million per year.
We may live in the era of connectivity, but the Internet is no substitute for real, in person discussion about changes in independent film. Here's our report on Whitewater Film's latest roundtable and their efforts to create an indie community.
You've all heard of the indiscretion that cost Nicholas Chartier of "The Hurt Locker" his Oscar tickets. This first hand account takes an inside financing look at Nic, "The Hurt Locker", and the risky business of indie film finance.