Tom Hanks, Casey Affleck films among new crowdfunding site projects

PanARMENIAN.Net - Soon, wealthy movie fans will be able to get more than a digital download and a T shirt for investing in films online, TheWrap said.

The new Junction — which is already raising money for films with Tom Hanks, among others — isn't a Kickstarter-type site that helps movies get made. Instead, it will allow investors to contribute to films that already have financially backing and will be made regardless of whether Junction participants join in.

One of its first projects is “Triple Nine,” a John Hillcoat-directed thriller starring Casey Affleck, Chiwetel Ejiofor, Kate Winslet, Aaron Paul, Gal Gadot, Woody Harrelson and Teresa Palmer. Worldview Entertainment is the financier on board the movie already.

Another is “A Hologram For The King,” the film adaptation of the Dave Eggers’ best-selling novel, with Hanks slated to star and one of his “Cloud Atlas” directors, Tom Tykwer, at the helm. The project is financed by Silver Reel.

Early advisers include prolific film producer Jason Blum and Steve Wynn, the CEO of Wynn Resorts.

Junction is open only to people with annual income over $200,000 a year or net worth of $1 million, not including their primary residence. The early emphasis is on entertainment properties.

Based in San Francisco and led by CEO Adam Kaufman (Goldman Sachs) and president Brian Goldsmith (a former TV producer), the firm will seek to help bolster in-development movies by offering interested parties the chance to invest in them online. The advantage for financiers is that the outside investors will help them recoup some of their initial risk.

Already, financiers such as Silver Reel, Endgame Entertainment, PalmStar, and QED are working with Junction, according to a release put out by the company. Top agency CAA is helping them set up investments.