Constantine Rousouli’s Instagram is your typical Broadway showman’s feed: career updates, European vacation snaps, talk show clips. But in January, the co-writer and co-star of Titanique posted something that definitely stood out: an invitation to invest in his upcoming Broadway show.
“FINAL CALL!” the Instagram story read. “A very limited opportunity to get involved with TITANIQUE on Broadway as a Co-Producer/Investor. Few slots left — DM me. Serious inquiries only.”
That’s language more commonly used to unload credenzas on Facebook Marketplace than to solicit Broadway backers. It’s also potentially problematic. The LLC behind Titanique‘s fundraising — the gloriously named Kooky Krazy Broadway Ltd. Liability Co. — had filed for a Rule 506(b) exemption, which allows companies to raise money from private investors without registering with the SEC, but only if the offering stays private. No advertising, no public solicitation. Posting on Instagram — one of the most public platforms on earth — is pretty much the opposite of that.
Rousouli didn’t respond to Rambling’s request for an interview, but a spokesperson for Titanique concedes that his social media pitch was an unfortunate misstep, insisting that the producers “take compliance seriously” and “did not issue, approve or authorize the post,” which has since been taken down.
The desperation play makes sense. Titanique, a musical sendup of James Cameron’s seafaring opus, is heading to Broadway’s St. James Theatre with Jim Parsons and Frankie Grande — but even with a budget well below the $25 million some productions require, finding backers is a grind in the current climate. Investors have grown choosier, and shows are struggling to hit even their minimum capitalizations.
Whether Rousouli’s Instagram appeal helped fill the coffers (and whether the production would be allowed to keep the proceeds) before he took it down remains unclear.
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This story appeared in the March 11 issue of The Hollywood Reporter magazine. Click here to subscribe.