Charles D. King’s MACRO just announced that it has raised an additional $150 million in equity and debt financing to produce and finance four to six film and television projects annually.
The equity includes financing from Emerson Collective, Ford Foundation, the W.K. Kellogg Foundation and The Libra Foundation.
MACRO’s existing investors, in addition to Emerson Collective, include Shanghai/Hong Kong-based MNM Creative, MediaLink, Raymond J. McGuire of Citigroup, Anre D. Williams of American Express and other strategic investors from Wall Street, Silicon Valley and the corporate world. The company also closed a substantial credit facility arranged by Bank of America Merrill Lynch. MACRO’s initial funding in 2015 was an undisclosed eight-figure round.
“With MACRO going into its third year, we have seen the initial seeds we planted come to fruition both commercially and critically. Our success is proof that our slate is striking a chord with audiences globally. This round of financing provides the capital necessary to build a robust slate of content that authentically represents the multi-faceted spectrum of our communities,” said King, MACRO’s founder and CEO.
MACRO’s first major studo feature was 2016’s Fences, starring Denzel Washington and Viola Davis, which grossed over $64M at the box office and received four Oscar nominations. It earned Davis a Golden Globe and an Oscar for Best Supporting Actress.
Two MACRO films will be released next month, the Dee Rees-directed Mudbound on Netflix and the Denzel Washington-starrer, Roman J. Israel, Esq., which are both Oscar contenders for the upcoming awards.
The company also has projects in development with collaborators including Ryan Coogler, Ava DuVernay, Rick Famuyiwa, Van Jones, Eva Longoria, Michael B. Jordan and Justin Simien.
In 2018, Sorry to Bother You, starring Tessa Thompson and Lakeith Stanfield and directed by Boots Riley, will be released.