Angel Studios
 | |
| Type of business | Private |
|---|---|
Type of site | OTT streaming platform |
| Headquarters | |
| Area served | Worldwide |
| Founder(s) |
|
| Key people | Neal Harmon (CEO) |
| Industry | Entertainment |
| Products | |
| Services |
|
| Employees | 100-250 |
| URL | angel |
| Registration | Optional |
| Launched | March 25, 2021 |
Angel Studios is an American video streaming service and media company. It uses equity crowdfunding to finance its original productions, offering individual investors the opportunity to purchase shares in the company and its titles.[1] Content produced by Angel Studios is distributed for free on their own streaming service.[2] Some titles are also available in other third-party streaming services as distribution deals.[3]
The company is behind several noteworthy crowdfunded titles including The Chosen, Dry Bar Comedy, The Wingfeather Saga, and The Tuttle Twins.[4] The Chosen is the largest crowdfunded entertainment project to date, raising $10.3 million from 16,000 investors.[5] As of May 2022, Angel Studios reports that 50,000 people have invested over $100 million for production of new original content.[6]
Angel Studios emerged as the result a forced bankruptcy reorganization from VidAngel, after a 4 year long lawsuit by four major entertainment studios.[7] A year after bankruptcy, in May 2022, Angel Studios reported a revenue of $123 million.[6]
The streaming service is available worldwide and can be accessed via web browsers or via application software installed on smartphones, tablet computers, and smart TVs.[8]
History and structure
VidAngel was founded in 2014 by the Harmon Brothers who wanted to be able to show movies and TV shows to their families without objectionable content such as graphic violence, nudity, and profanity. VidAngel allows customers to filter out content they deem objectionable. Under the VidAngel umbrella, Angel Studios launched The Chosen, a series about the life of Jesus and his disciples. After a pilot episode was developed, the company raised $10 million in equity crowdfunding to finance the first season.
The company also launched Dry Bar Comedy, a series of stand-up clean comedy shows, in 2017. Much of its content went viral, with Dry Bar Comedy videos receiving two billion views as of 2021.[9] It also developed The Tuttle Twins, a show for children with conservative themes, and raised $4.6 million in equity crowdfunding for its development.[10]
VidAngel was sued by four major studios in 2016, which alleged it broke copyright law. In 2019, VidAngel agreed to a settlement with the studios and emerged from bankruptcy. In 2020, the company sold its filtering business to a new entity known as VidAngel Entertainment, and renamed itself Angel Studios. The new company is focused on developing original content using its equity crowdfunding model. It purchased the domain name Angel.com for $2 million.[11] At Angel.com, investors can vet new content and choose to invest in it.[12]
The Chosen, which was originally distributed through the VidAngel platform, is now its own platform operated by Angel Studios. The show is free to watch and receives revenue from crowdfunding and programming and merchandise purchases.
In 2022, Angel Studios raised $47 million in an investment round led by a venture capital company.[13]
As of 2022, Angel Studios has 50,000 individual investors and had over $100 million worth of original content, including 12 titles, in production.[6]
Original content
| Title | Status |
|---|---|
| The Chosen | Season 3 in production |
| Dry Bar Comedy | Season 10 in production |
| Tuttle Twins | Season 2 in production |
| The Wingfeather Saga | Season 1 release scheduled for December 2022 |
| The Riot and the Dance | Season 2 in production |
| David | Film in production |
The Chosen
The Chosen, a streaming multi-season television series about the life of Jesus, was first produced under the VidAngel umbrella.[14] The series was supported by equity crowdfunding and raised over $10 million, the largest amount ever crowdfunded for a TV show.[14] The series was initially only available on VidAngel before being offered on its own platform. It is currently distributed through its own app and several other entertainment platforms.
Dry Bar Comedy
Dry Bar Comedy was one of the company's first forays into original content, launched in 2017. It began as a series of 52 original stand-up comedy sets filmed in Utah that are generally clean and performed by lesser-known comedians.[15] Dry Bar Comedy has attracted a large social media following, particularly on YouTube. As of 2021, Dry Bar Comedy videos have attracted over 2 billion views.[16]
The Wingfeather Saga
Angel Studios is currently producing an animated TV adaptation of The Wingfeather Saga, a fantasy book series for children and young adults written by Andrew Peterson. Investors poured in $5 million to produce the first season, which is currently in production.[17]
References
- ^ Invest in stories that amplify light Angel Studios.
- ^ Frequently Asked Questions Angel Studios.
- ^ Form 1-K Annual Report 2022 Angel Studios, Inc. SEC.report
- ^ Angel Studios Announces Over $100 Million in New Original Content at Annual “Illuminate” Event Angel Studios (Press Release). May 20, 2022.
- ^ Story about life of Jesus emerges as largest crowdfunded entertainment project in history (Fox News)
- ^ a b c Angel Studios Announces New 2022 Lineup, Representing over $100 Million in Original Content
- ^ VidAngel Rebrands as Angel Studios for Crowdfunding Content
- ^ Angel Studios Supported Devices (Angel Studios)
- ^ Dry Bar Comedy delivers inoffensive humor in a compromised culture
- ^ Libertarian Cartoons Promise to Turn Your Kids Into Little Ayn Rands
- ^ Angel Studios continues to soar after $2 million Angel.com purchase
- ^ Angel Studios Will Try To Replicate ‘The Chosen’s Box Office Miracle
- ^ Gigafund Leads $47 Million Investment in Angel Studios
- ^ a b Largest-Ever Crowdfunding Campaign for a TV Show Issues Equity to Investors (The Hollywood Reporter)
- ^ Herald, Court Mann Daily. "VidAngel switches its focus to 'Dry Bar Comedy' in wake of lawsuit". Daily Herald.
- ^ Dry Bar Comedy delivers inoffensive humor in a compromised culture
- ^ Andrew Peterson’s Wingfeather Saga Raises $5M for TV Series
