I want to thank my friend Dave Tripet for bringing Slated as it was covered in the New York Times to my attention. Today I listened to KCRW as John Horn interviewed Marina Zenovich whose sequel doc on Polanski, Roman Polanski: Odd Man Out, received post-production financing through Slated in 2012. Her first doc in 2008 on Polanski, Roman Polanski: Wanted and Desired, won two Emmys. Roman Polanski: Odd Man Out is represented for international sales by Films Distribution and Gravitas has the U.S. rights. It premiered in Toronto last year and showed at the New York Film Festival as well.
An adaption of Checkov's The Seagull, Days and Nights by Christian Camargo and starring Katie Holmes, Jean Reno, William Hurt, Michael Nyqvist, Mark Rylance, and others, now in post was also funded by Slated.
John Horn on KCRW also interviewed Stephan Paternot, an American internet entrepreneur and film producer, and a South African creative consultant, Duncan Cork, who with two other partners founded Slated. As Mr. Paternot put it, they realized separately that “there’s a fundamental structural problem with how films are financed".
Each film project listed on Slated is packaged for investors. It must have a director, a producer, a writer and principal cast to be considered. The budget requirements for a feature film are $500,000 to $15 million; for a documentary, $250,000 to $2 million. Typically films come in at between $2,000,000 and $5,000,000.
Slated restricts its membership to investors who meet the Securities and Exchange Commission requirements for accreditation — a net worth of $1 million or annual income of at least $200,000 for an individual and $300,000 for a household for the last two years.
The filmmakers and financiers negotiate the terms of the deals on their own, without Slated’s involvement. Since the company’s introduction in January 2012, nine films listed on the site have received financing. According to Mr. Cork and Mr. Paternot, investors in recent projects have committed amounts from $25,000 to several million dollars.
Eventually, Slated will begin charging transaction fees, much the way Kickstarter does.