Local actor/producer Mark Joy said in an interview yesterday that he’s seeking $20 million to finance six films. All of the movies would be filmed and produced in Virginia under the production company Story Teller Pictures. Joy part of the leadership team of the company.
“We’re sitting down with Paradigm in LA and trying to get some commitment from them to attach elements that strengthen the package and closing funds – the last 50% of the funds needed,” Joy said. “So far, we have not been aggressive.”
This is his first experience raising a large sum.
He hasn’t raised any of the money yet, but raised $100,000 in three days to produce Beast of Burden, a 30-minute short film.
Joy said that investors would get their principal plus 15% as soon as the films start bringing in revenue and then 50% of the net profit of the movies after the expenses have been covered.
“Obviously it’s tough right now. Guys are facing losses and waiting for things to turn around. But I still believe money is here – I know money is here.”
Joy said he doesn’t need all of the money right away, although that would be ideal. He said he will start producing whatever film is within the budget as soon as the funds are raised.
But producing a slew of films spreads the risk, Joy said.
You can see the list of movies here
In his acting debut, BizSense Editor Aaron Kremer played a Bedouin in Joseph and the Technicolor Dreamcoat. He was 10. He has not acted since. Please send story ideas to [email protected].