German fund initiator Ideenkapital is launching its Mediastream IV fund to raise Euros232m from private individuals for investing in the marketing costs of three releases by 20th Century Fox.
The three features are the sci-fi action film I, Robot starring Will Smith, which is scheduled to open in the US on July 11, 2004; Donald Petrie's comedy Welcome To Mooseport, starring Gene Hackman; and writer-director Rawson Marshall Thurber's comedy Underdogs with Ben Stiller and Vince Vaughn.
Unlike the previous three Medienstream funds, this fund placement is focused on financing Fox's marketing campaigns rather than investing in the actual production costs. "With this new concept we are avoiding the debate about what a 'blind pool' is and whether the fund is able to exert any influence on the course of a production", Ideenkapital's Axel Pollheim said.
In addition to fixed licence payments paid by 20th Century Fox to the fund, the investors will have a chance of participating 'on top' in 30% of the films' worldwide revenues, the US major receiving the other 70%.
Mediastream's previous three funds raised Euros76.3m (for The Fast And The Furious), Euros141m (for The Truth About Charlie and Big Fat Liar) and Euros292m (for The League Of Extraordinary Gentlemen, Down With Love, Just Married, The Clearing and Catch That Girl).