Angel Studios raises $20 million in 11 days in Provo

Angel Studios, based in Provo, Utah, has successfully completed a Regulation A+ offering, raising $20 million in just 11 days. This funding was achieved through the support of over 20,500 investors, reflecting a growing frustration among audiences regarding traditional Hollywood gatekeepers and their choices in film and television production. The studio empowers its audience through the Angel Guild, a community of over 379,000 members from more than 150 countries who actively participate in deciding which projects to greenlight. Neal Harmon, the CEO of Angel Studios, emphasized the importance of audience involvement, noting that the Guild's decisions have proven to be more aligned with viewer preferences than those of conventional industry executives. The studio's unique model allows it to operate based on audience votes, ensuring that only projects with sufficient support move forward to production. The funds raised will be utilized to expand the Angel Guild and support a diverse range of upcoming films and TV series. The competition for project approval is intense, with over 900 submissions received from filmmakers between April 2022 and April 2023, yet only 13 projects were selected for development. This highlights the rigorous selection process that ensures quality and audience alignment. Angel Studios has already made a significant impact in the industry, with its film SOUND OF FREEDOM achieving a remarkable $250 million at the box office. The studio's mission to amplify light through storytelling resonates with its dedicated community, positioning it as a formidable player in the entertainment landscape.