Bad Lieutenant: Tokyo, the latest entry in the cult crime film franchise, marks a groundbreaking moment in indie film financing. The project, currently in production in Japan, is not only the first in a new development slate by Pressman Film, but also one of the earliest films to raise development capital through Republic, a platform democratizing investment in entertainment ventures.
Crowdfunded Cinema with Real Returns
Pressman Film raised $2 million from approximately 300 investors—surpassing its $1.5 million goal—via Republic. This success underscores a growing public appetite for alternative investments, especially in independent cinema. The funds went directly into development, including the script, and investors are now receiving their first payouts with a 20% premium.
“Any time that we make a movie from the slate and we make money, our investors will receive money as well,” said producer Sam Pressman. “It’s like each project is its own development asset.”
Investors will receive quarterly disbursements, with the first returns arriving within six months of the campaign’s close—a relatively fast turnaround in the film world.
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Republic’s Growing Entertainment Vertical
The success of Bad Lieutenant: Tokyo has cemented Republic’s film investment model. What began with Pressman Film has grown to include projects from genre heavyweights like Robert Rodriguez and Eli Roth.
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Rodriguez’s Brass Knuckle Films offers investors the chance to pitch film ideas, with one winner chosen for full development.
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Roth’s The Horror Section gives investors shares in his new studio and a percentage of profits from upcoming films, plus perks like merchandise and cameo roles.
Republic’s Head of Film, Marc Iserlis, calls this an emerging asset class:
“It’s proving that there is a good product market fit for this new asset class… and it’s working.”
Unlike traditional models where returns depend on a studio’s long-term valuation or exit strategy, these fan-investment slates distribute profits in real-time as movies reach production and generate revenue.
A Prestige Project in a Cult Franchise
Bad Lieutenant: Tokyo is co-produced with Nippon TV and directed by iconic Japanese filmmaker Takashi Miike. The screenplay is by Daisuke Tengan, known for cult hits like Audition and 13 Assassins. The cast includes Shun Oguri, Lily James, and Liv Morgan.
The film represents the third installment in the Bad Lieutenant franchise, which began with Abel Ferrara’s 1992 original and was reimagined by Werner Herzog in 2009. This latest chapter blends Western crime storytelling with Japanese cinematic flair, appealing to both global and local audiences.
Strategic Partnerships and Global Distribution
The film’s U.S. distribution is handled by Neon, with international sales also under its banner. The producing team includes:
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Jeremy Thomas (Recorded Picture Company)
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Sam Pressman (Pressman Film)
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Naoaki Kitajima (Nippon TV)
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Misako Saka (OLM)
Executive producers include Tom Quinn, Yuzo Kuwahara, Paula Paizes, and others across Japan, Europe, and the U.S.
A Glimpse into the Future of Film Financing
The success of Bad Lieutenant: Tokyo is not just about the film itself—it’s a case study in how independent cinema is evolving. By allowing fans to become stakeholders, studios like Pressman and platforms like Republic are reshaping the economics of filmmaking.
As Pressman put it:
“The development money allows us to keep greater control of the IP and ownership position.”
