Angel Studios’s newest initiative that allows audience members to invest in the entertainment studio’s overall work has raised more than $10 million in its first five days.
The studio uses an audience-driven funding model that allows potential audience members, called the Angel Guild, the opportunity to invest and provide feedback in the making of projects. The newest initiative, called Regulation A+, began Aug. 30 and expanded the Angel Guild with means for investments to fund the overall studio and reach beyond individual projects.
As of Wednesday evening, the studio has seen $11.5 million raised since its launch.
Angel Studios Chief Content Officer Jeffrey Harmon told the Washington Examiner the response indicates a strong desire to “replace the Hollywood gatekeepers.”
“I was in awe as I watched over 8,000 fans turn up to invest over Labor Day weekend. During this same weekend we had record membership growth to the Angel Guild,” Harmon said. “We are now at over 360k Guild members. This movement is on a rocket ship. Together we are building the studio and culture we all want to exist for our kids and grandkids.”
“In the Hollywood gatekeeper system, a handful of elites in an LA boardroom make decisions on what everyone in the world watches. At Angel Studios, we don’t believe that there is a group of elites who are smarter than the viewers,” Harmon also said. “That’s why as executives at Angel Studios, we can’t even consider a film unless the Guild first green-lights the movie or TV show, since that decision power is vested to the Angel Guild.”
Harmon noted that the Angel Guild currently represents more than 150 countries. It has the goal of reaching one million Guild members in order to “reach escape velocity as a movement, making the people’s studio a driving force in the entertainment landscape.”
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Angel Studios’s Regulation A+ investments start at $151.20.
The studio has released several box office hits, including Sound of Freedom, His Only Son, and Cabrini. It is also behind the distribution of popular streaming TV shows Tuttle Twins and Wingfeather Saga.
