“Paranormal Activity” producer Jason Blum is teaming with Scott Hanson on a joint-venture film fund to finance the development of studio-friendly film packages.
The duo said the seven-figure fund — dubbed BlumHansonAllen Film Fund — will fill a void by offering off-balance-sheet development financing to studios at a time when the majors and mini-majors are slashing their development budgets. Blum said he and Hanson, prexy of Hanson-Allen Films, raised the money on their own from private equity sources.
On ‘Paranormal Activity,’ we demonstrated how to do more with less,” said Blum, whose Blumhouse banner produced the hit horror pic for $15,000. “(Our fund) expands on this very simple idea. By working with writers and directors to put a creative package together including a script, cast, location, budget and even a sizzle reel, we’re hoping to make it easier to create studio franchises from the ground up.”
Blum is a former on-the-lot producer at Paramount. During his time at the Melrose Avenue site, he never got a project greenlit by the studio. But once on his own, Blum brought Par one of its most profitable films in years in “Paranormal Activity,” which cost the studio $300,000 and has earned $108 million.
Blum and Hanson have raised capital to finance and develop complete creative packages for feature projects, including script, director, cast and original footage that will then be shopped to studios.
These are the first two projects covered under the fund:
– “Inside Out,” a heist film written by “Iron Man” scribes Mark Fergus and Hawk Ostby. The fund will pay for a five-minute short to accompany the project. Marcel Langenegger (“Deception”) is attached to direct. Blum and Hanson are producing, while John Allen and Steven Schneider are exec producing.
– “The Refuge,” based on a pitch by British helmer Corin Hardy and a script by Tom De Ville. Project will be financed and developed with Sam Raimi’s Ghost House Pictures. Package includes a short 3D prologue for the film. Blum is producing alongside Rob Tapert, while Hanson, Allen and Schneider exec produce.
Blum’s upcoming credits include Fox family comedy “The Tooth Fairy” and “Area 51,” which is in production.
The Hanson-Allen shingle produced “Trucker,” which is currently onscreen, and the upcoming Lionsgate release “Tenderness.”