Bringing high quality media creation to the masses and the markets.
We are aiming to change the way artistic projects are made, starting with film and then branching out into other forms of media. The film business has been a top down world since it’s inception in the 1930’s which allows for the little guy every now and then to make a splash. We want to change that, and allow for the little guy to have more access to cash and power to create the media and art that they want to, not what giant corporations want to be made. It has been prophesied by heavy weights, Steven Spielberg and George Lucas, in the business that the tent pole environment of movie making you see today will come crashing down at some point and has led to a lack of new ideas and stories. We are going to change that with three entities working as one. They are:
- Equity Crowdfunding: The Rudimental
- A new “Media Production Company” model: Rudimental Media
- Film/Media Exchange: Rudimental Exchange
The first part in this three part spoke and wheel business model is an equity crowdfunding website: The Rudimental.com. The JOBS act changes the old way in which projects/companies can be funded, allowing the everyday man to now buy equity in them. This will open up totally new opportunities for artists to create work. The biggest problem right now with “traditional” crowdfunding is no one who puts money in gets any money out. We create the platform where this can take place with members having profiles along with their projects having them too. All information will be kept on Ethereum. Ethereum gives us new tools to be able to comply with all the SEC guidelines that will need to be presented to potential investors in a project because it is a self auditing system, i.e. security. As more people realize the power of equity crowdfunding, bigger names in the business will peel and join us. The biggest push and pull on a set is the director and the producer who has the money and wields a lot of power over the creative path. With equity crowdfunding, an artist can stay true to their vision and have access to financial resources.
A New “Media Production Company” Model
A service that will be optioned onto the funding portal will be Rudimental Media as a production company to the projects. Getting the information about the projects from the portal will allow us to streamline all the hoops you have to jump through when getting a project made and done with Unions and Guilds. We would take care of the backend and list it on the profile of the project on the funding portal for the artist, so investors could see how progress is going on the project. We would also have a database of all crew members who work on films, and based on the information we get from the portal, we can offer and recommend team members to be on the crew for positions that the artists might have missing in the geographical area’s that they are shooting/working. By using our system the project is tokenized. This will allow us to offer new business models, where people working on the project can also own equity in the film, and can sell this off to invest in new or their own projects. This will create a positive feedback loop of media creation and allow artists to do what they do and make the art they want to make.
Another aspect we would offer would be to intern on production sets so people could get their feet wet in the industry. Much of what people learn in film school is learned on a working set, but you end up with huge debt when you leave the place and have to scrounge around for jobs with no safety net unless you know someone who knows someone. There is no centralized database for keeping all your information. In the long run, people would see it would make more sense to come and intern with us where you get on set training, you learn your craft, and instead of showing up with $50,000 — $100,000 in loan debt, you walk away with tokens towards new projects and job prospects. Building out, we could have centers in different cities around the world that offer studio’s for editing, color correction, and sound, along with all the gear needed to make projects. Creating jobs and high quality media creation everywhere.
Investors are not allowed to sell or move their assets in a project for a year, per SEC requirements. Once this time is up, they will need a place to trade their shares. Artist will also be able issue more shares to raise more capital on a project at this time. Equity in projects will go up on the exchange and can be traded accordingly. This will create a film/media exchange, and will turn market forces onto media creation, hopefully allowing for a whole new metric for what type of media and art gets made.
It will be a new business model for media creation by moving the decisions of what get’s made from a small group of people to the masses. They become the tastemakers and can shape the art that is put out into the world. It would bring more value to the Ethereum blockchain, and would be a model of a business totally powered by Ethereum, created through Ethereum, and thriving in the physical world.