Independent film studio Angel Studios has raised over $10 million in just five days through an online investment campaign. The Los Angeles-based company uses an innovative crowdsourced model to decide which films and television shows to support.
At the core of this model is the Angel Guild, an online community of over 360,000 entertainment fans from around the world. Members of this community collectively vote on projects for Angel Studios to produce and distribute. “We believe the crowds have a better sense of what stories people want to see than big movie executives,” said Jeffrey Harmon, co-founder and chief creative officer of the studio.
This approach has already met with commercial success. The film “Sound of Freedom” about human trafficking generated $250 million globally after receiving Guild approval. Other hits include the biblical drama “His Only Son” and faith-based biopic “Cabrini,” though the latter lost money despite earning $20 million on its $50 million budget.
Beyond theaters, Angel Studios content is widely available through digital platforms. The company reports over 45 million downloads of its app on Apple TV, Roku, and smart TVs. Additionally, its comedy brand Dry Bar Comedy has gained 150 million viewers and over 5 billion views on online videos.
With the money raised, Angel Studios plans to expand the Angel Guild to one million members. Harmon believes this scale will establish the Guild as a major “driving force” in entertainment. Reviews also favor the crowdsourced model – Angel Studios averages a 95% positive rating from viewers on review site Rotten Tomatoes, exceeding most traditional studios.
Upcoming titles approved by the Guild include the biopic “Bonhoeffer: Pastor. Spy. Assassin” in 2024 and the post-apocalyptic drama “Homestead.” The full 2025 slate involves around seven movies and seven television series. While unconventional, the model does carry financial risks as seen with “Cabrini.” However, the studio’s ability to attract investment shows significant backing for its alternative approach to the Hollywood system.
