As an investor in Legion M you have a stake in ARCHENEMY (along with the other projects on our slate!) If you're not an investor yet...what are you waiting for? Round 7 is open now!

Over the last few years, Legion M has built a portfolio of projects that is heavily diversified across both genre and business model. Our slate covers everything from projects we're trying to get off the ground (e.g. "The Emperor's Blades," Girl With No Name, etc) to films that have completed and released (e.g. Mandy, Jay and Silent Bob Reboot, etc). We thought it would be useful to provide some information about Legion M's role in Archenemy, and what it means to you as an investor in the company.

WHAT IS THE DEAL?

While we don't break down our financials on a per-project basis, we can tell you that Archenemy is one of our largest cash investments to date. In addition to the cash we’ve invested, we're also investing time and energy from the Legion M staff to support the film and its release.

Our return on the film falls into 3 categories:

Equity
As an equity financier of the film, we participate in the "waterfall," which is the model that determines how (and in what order) revenue earned by the film is distributed amongst all of the stakeholders. An in-depth discussion of this would be WAY beyond the scope of a blog post like this — if you are interested, there are plenty of books available on Hollywood film financing.

Legion M participates in many different stages of the waterfall. Some of our investment is secured against existing deals that get us our investment back (plus a return) once milestones are met (e.g. completion of the film). Other parts of our investment put us first in line for money associated with specific revenue streams (e.g. foreign sales).

In addition, as an equity financier, Legion M has the potential to participate in every single revenue stream the film creates. This revenue isn't guaranteed — those in the waterfall only participate after those in line before them have received their share — but revenue streams that feed the waterfall can include theater box office, VOD rentals, DVD sales, streaming, merchandise, licensing, television, airlines, special editions, re-releases, soundtrack sales, etc, etc, etc. Globally. In perpetuity.

A lot of folks assume that films are judged by their US box office numbers, but in this day and age, that is simply the tip of the iceberg. Especially given the film was released in the middle of a pandemic, when most theaters are closed.

Merchandise & Media & Licensing
Part of our deal with the film includes merchandise and licensing rights to develop, sell, and license Archenemy merchandise including media (e.g. DVDs, Blu-Rays, etc). Over the past few years, merch and media have become an important part of Legion M’s business. It helps us secure deals for films like Mandy and Archenemy that might not otherwise have merch, and it can also provide valuable revenue streams. And since much (in some cases most) of the merch we sell is to people outside the Legion, it can also be a great way to introduce ourselves to potential new members of our community.

One great thing about merchandise and licensing revenue is that we collect the revenue, keep any profit we earn, and contribute a portion (the royalty payment) INTO the waterfall. This is obviously a more advantageous position than waiting for money to come OUT OF the waterfall. In fact, depending on where things are in the waterfall, some of the royalty we contribute into the waterfall can come back to us down the road.

Soundtrack
A small portion of our investment went into the soundtrack, which allowed the film to use three tracks (including Mercury by Ghostmane) that it wouldn't have otherwise been able to afford. In exchange, we have soundtrack rights and have the ability to monetize the music. Limited edition vinyl, anyone? :)

WHAT DOES ALL THIS MEAN TO ME?

When you invested in Legion M, you bought shares in the company. Your return comes when you sell those shares. In the meantime, anything that grows the overall value of the company is good for you. Your hope (as well as ours and everyone else who owns shares of Legion M) is that Archenemy is a successful movie and can earn back more than our investment. Our wildest dream is that it becomes a smashing success, and maybe even the basis of a new franchise.

Just as importantly, Archenemy has been a valuable stepping stone for Legion M, just as our earlier projects were stepping stones to where we are today. If you look at Legion M's progress over the past few years, you'll see a steady progression of bigger and better deals. That's because each step we take helps grow our experience, our reputation, and the size of our community — all of which contribute to our ability to find and negotiate the best deal possible for our next project.

WHAT CAN I DO TO HELP MY INVESTMENT GROW?

The great thing about Legion M is that, as an owner of the company, you can do more than just sit back and see what happens. You can have a role in helping bring success for yourself (and all of us!). For Archenemy, there are two main things you can do:

1. WATCH IT ASAP! We are all surrounded by content 24/7 and have long lists of things we "plan to watch." IF YOU PLAN TO WATCH ARCHENEMY, PLEASE DO IT ASAP. You can visit this page for links to find it on every major platform. The timing is important — opening weekend is the single most critical time in the release cycle of a film. If everyone from Legion M who plans to watch Archenemy does it opening weekend, we can help springboard it to the top of the charts on iTunes, Amazon, etc, which provides incredibly valuable exposure for the film. If you missed opening weekend, don't fret; just DO IT NOW! Those lists/algorithms are virtuous cycles — the more people who watch the movie, the higher the movie gets on the list. The higher it gets on the list, the more people watch it.
2. SHARE IT WITH YOUR FRIENDS! If you are excited about Archenemy, don't be shy about sharing it with your friends. Even if you don't plan to watch Archenemy yourself (that's OK — everyone has different tastes!), please pass it along to your friends who you think might like it! Don't forget — if you submitted your photo for the Legion M animated credit, you can brag to your friends that you are IN THIS MOVIE (and in the opening credits to boot!). If you are looking for an easy way to share on social media, check out this share page.

Hopefully this provides some background into why we’re so enthusiastic about Archenemy. While it’s too early to tell how all the $$ will work itself out, we’re thrilled with the traction and exposure the film is receiving in the media. We’ve posted some highlights below in case you want to read and pass them along!

ONWARD AND UPWARD!
Jeff, Paul, and the Legion M Team

HIGHLIGHTED PRESS COVERAGE

"Archenemy is one of the most original films of the year and a thrilling cosmic adventure with plenty of violence and a big heart. Definitely one to look out for."
Screen Anarchy

"Archenemy is a gritty superhero movie that puts The Boys to shame."
Inverse

"I will end my rant about how much I love Archenemy now. It’s one of my favorite movies from this hellhole of a year."
Film Threat

"Memories of his superpowered past are depicted via trippy, hyper-stylized animation that calls to mind Pink Floyd's The Wall."
SyFy Wire

“Why Joe Manganiello Didn’t Approach His New Film ‘Archenemy’ Like a Superhero Movie“
Variety

"Archenemy: Glenn Howerton On Menacing Joe Manganiello”
Den of Geek

“Director Adam Egypt Mortimer on Archenemy and Reimagining the Superhero Movie”
The Mary Sue

"Joe Manganiello shines in grounded superhero tale."
Bleeding Cool

"While [Archenemy] has the trappings of a superhero film, Manganiello didn’t approach the role of Max like he was a superhero nor does he think he even played one."
The Hollywood Reporter

"Aesthetically, the neon-soaked scenes of Max’s alien planet and intergalactic adventures are stunning. The stark juxtaposition between ethereal, almost dream-like sequences throughout the movie are punctuated with gritty crime and a seedy underbelly to great effect. Manganiello’s portrayal of Max Fist is the perfect hero for this story, one that’s steeped in tragic realism."
Screen Rant

"Mortimer repackages superhero films of yesteryear into an intellectual and thoroughly modern fare; Archenemy is the perfect punk-rock palette cleanser to the Marvel norm."
The Hollywood News