The Stable crowdfunds £60k for new musical production
Production company the Stable aims to produce its first musical in 2016 after securing £60,000 though a crowdfunding campaign.
The company is developing a number of musicals, including a new show written by Douglas Hodge, called The Wigmaker’s Tale, and another based on Oscar Wilde’s The Happy Prince, directed by Maria Friedman.
Last month, the company launched a crowdfunding campaign offering 6% of the company for £60,000. By investing in the company, rather than a specific show, founder Neil Marcus said the financial risk to people who gave money was spread.
The campaign has now raised the £60,000, meaning the company can produce and tour its first show in 2016.
Marcus could not confirm which show would be staged first, but said: “The campaign was to help with our development programme, because developing four new musicals is a costly beast. This allows us to go on with a fairly aggressive development programme. Our hope is that we will premiere our first show in autumn 2016.”
Marcus also said at least half of the money invested had come from people he did not know, which he said demonstrates that crowdfunding is a “very interesting way of opening up a group of investors”.
“Some people had already been considering investing in the company and I told them to use the crowdfunding platform, so… they made up a chunk. But a bigger chunk was new people I’d not met, and who wanted to invest based on the strength of our proposition,” he said.