New startup offers movie investing to wealthy
Thursday, March 27, 2014
NEW YORK (AP) — A new startup is offering wealthy investors a chance to finance movies starring Tom Hanks, Kate Winslet and Casey Affleck.
The San Francisco-based Junction launched Wednesday. It's a twist on the crowdfunding that has helped movies like "Veronica Mars" get made. It's open only to those who make $200,000 a year or have a net worth of more than $1 million.
Junction investors share in potential profits, like normal film financiers. Contributors to projects on crowdfunding sites like Kickstarter receive rewards, like a copy of the script or a signed movie poster.
Junction films are already fully funded, but open to adding more investors.
Among the first projects are the John Hillcoat-directed "Triple Nine," with Affleck and Winslet, and the Dave Eggers adaptation "A Hologram for the King," starring Hanks.
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