Raven Moon Entertainment, Inc. announced today that according to a story written by Alex Armitage and Mike Weiss of Bloomberg News, and published in the September 24, 2005 issue of the Orlando Sentinel, Walt Disney Co., whose film unit said it will lose money in the fourth quarter, has raised $505 million from investors to reduce the risk of financing movies, the first time it has done so in almost a decade.
According to Robert Iger, who on October 1 succeeds Michael Eisner as chief executive officer, in August said Disney will take a “very hard look” at film expenses. “What we’re seeing should be a wake-up call to the entire industry in terms of expenses,” stated Iger in August.
Using “Disney/Pixar-style” technology, Raven Moon continues to fly under the big-budget radar with its first fully animated low-budget theatrical film called “Gina D & The Transistor Sisters.”®
With a final budget of $3,000,000, Raven Moon Entertainment, Inc. plans to be the general partner of Gina D & The Transistor Sisters The Movie, LLLP, a limited liability limited partnership. Half of the $3,000,000 production budget totaling $1,500,000 has already been committed to by MG Studios, home of GINA D’S KIDS CLUB®, and the balance of $1,500,000 will be available to investors.
Raven Moon writers and producers have already written the full script and produced the music soundtrack. A fully animated distribution trailer will be ready in October and participation in the balance of the LLLP will be on a private one to one basis.
“This low-budget concept is not new. Independent film companies have successful turned low-budget films costing only approximately one to three million dollars such as: ‘The Adventures of Grizzly Adams,’ ‘The Amityville Horror,’ ‘In Search of Noah’s Ark,’ ‘Fahrenheit 911’ and ‘The Blair Witch Project’ into blockbuster profits of $25,000,000 or more,” stated Joey DiFrancesco, Chairman and CEO of Raven Moon Entertainment, Inc.
“The newest G-Rated independent film, ‘March of the Penguins,’ has already taken in a total of $70 Million in box office receipts to date.”
“The difference that gives us a 2005 edge is that we have the 3D technology, the creative team and the ability to produce low-budget animated features in a high demand consumer market,” stated DiFrancesco.