Angel Studios, Streaming Platform Behind "The Chosen", Raises $47 Million Investment Led by Gigafund to Give Hollywood a Remake (2024)

PROVO, Utah, Jan. 5, 2022 /PRNewswire/ --Angel Studios, the streaming platform behind the most successful crowdfunded shows of all time, has raised $47 million to bring control of the entertainment industry back to consumers and creators. The round caps off a major comeback year for cofounders Neal and Jeffrey Harmon, who led Angel Studios to over $100 million in annual revenue just one year after Disney and Warner Bros. tried to shut the studio down in court.

The financing was led by Gigafund, a venture capital firm backing the world's most ambitious and transformative entrepreneurs, and Bain-backed Uncorrelated Ventures, which invests in infrastructure software. Gigafund is known for being one of the largest investors in SpaceX, as well as other game-changing companies in industries ranging from education and energy to healthcare and housing. Original seed investors Alta Ventures and Kickstart Fund also participated. In addition to the venture backing, five million of the investment round was crowdsourced directly from Angel Studios fans.

"Angel Studios helps creators build a direct relationship with their fans and produce meaningful and compelling content for hundreds of millions of people who have been underserved by the entertainment industry," said Stephen Oskoui, Managing Partner of Gigafund. "We believe that Angel is on track to rewrite the rules of the media business and have a significant impact on culture."

Today's movie business is a $280-billion industry almost totally controlled by five major Hollywood studios. Studio executives decide what content to produce in boardrooms behind closed doors, with little to no input from consumers. As a result, almost 80% of the films that Hollywood thinks audiences want to see fail to break even every year, while real audiences rarely get the chance to enjoy the stories that matter most to them. Studios rely on a few major hits to maintain the status quo.

Angel Studios is a community-driven movie studio that empowers audiences to decide what content gets produced and distributed, while creating communities around each project. Creators pitch projects on the Angel platform, and "Angel investors" fund the ones they're most excited to see (via the Angel Funding Portal). Post-production, content is delivered directly to viewers and goes viral as fans share it with others.

"On Angel's community and streaming platform, artists answer to audiences, not to a Hollywood studio," said Angel Cofounder and CEO Neal Harmon, "As our creators invert Hollywood's abysmal 80 percent failure rate, audiences will win."

The Angel model has already produced three of the most successful crowdfunded shows of all time, including:

  • The Chosen, the #1 crowdfunded media project in history, viewed over 300 million times to date, with a special in theaters this Christmas.
  • Dry Bar Comedy, the #1 family-friendly stand-up comedy channel, currently on its eighth season with one billion views a year.
  • The Wingfeather Saga, the world's #1 crowdfunded animated kids show, currently in production.

With this latest funding round, Angel plans to continue improving its streaming platform, market to new audiences, and develop its content pipeline for 2022 and beyond.

"This raise gives us more than funding; it gives us key strategic partners," said Harmon. "Gigafund and Uncorrelated will help us realize our long-term mission of remaking the entertainment industry and freeing both creators and their fans to enjoy the content that they find most important."

About Angel Studios
Angel Studios' mission is to be the home of stories that amplify light. Angel's crowdfunded studio platform serves audiences that have been overlooked by Hollywood and other media conglomerates. At Angel Studios, "Angel" investors choose which titles will be created, funded, and distributed. Launched by the original founders of VidAngel, fans can learn more at Angel.com

About Gigafund
Gigafund is a venture capital firm backing the world's most ambitious and transformative entrepreneurs. Gigafund was founded by former Founders Fund partners Stephen Oskoui and Luke Nosek and has over $2B in assets under management. Gigafund's investments include SpaceX, Cover, Luminous Computing, the Boring Company, Veryable, Last Energy, and Sana Benefits. More information can be found at Gigafund.com.

About Uncorrelated Ventures
Uncorrelated Ventureswas founded by Salil Deshpande with Bain's backing to focus on infrastructure software, both traditional and decentralized. Deshpande was on the Forbes Midas List of the 100 best-performing venture investors worldwide in 2013, 2014, 2015, 2016, 2017, 2018, and 2019, and 9th on the 2021 Business Insider Seed 100 list of best all-time seed investors. Deshpande has invested in several successful marketplace models including Lending Club, Upgrade, Pipe, Lyte, AngelList India, and now Angel Studios. More at Uncorrelated.com.

SOURCE Angel Studios

Angel Studios, Streaming Platform Behind "The Chosen", Raises $47 Million Investment Led by Gigafund to Give Hollywood a Remake (2)

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Angel Studios, Streaming Platform Behind "The Chosen", Raises $47 Million Investment Led by Gigafund to Give Hollywood a Remake (2024)

FAQs

What are Angel Studio platforms? ›

For the best experience use the Angel Studios app available on Roku, Fire TV, Apple TV, and Google TV.

Is VidAngel and Angel Studios the same company? ›

The main focus for VidAngel is to filter content and ours is to distribute content. Because Angel Studios and VidAngel are separate companies, your login credentials for the Angel App probably won't be the same as for VidAngel.

How can I watch Angel Studios on my TV? ›

How to Download the Angel TV App (Google TV)
  1. On the home screen, select "Apps" and scroll down on the menu to the "search" option:
  2. Click on the search button and type in "Angel Studios".
  3. Click on "Angel Studios" in the available options and select "Install" to add the TV app. (
Jun 13, 2023

Did Angel Studios buy The Chosen? ›

Yes! The Chosen was one of the first shows to partner with Angel Studios on our groundbreaking Pay It Forward model. All seasons and episodes can be watched on Angel Studios.

Is Angel platform legit? ›

Angel One is one of the largest stock brokers. They are in the business since 1987. They are a member of BSE, NSE and MCX. They are regulated by SEBI regulations.

What is the stock symbol for Angel Studios? ›

AGLTD: Angel Telecom Corp Stock Price Quote - Bloomberg.

Is VidAngel a Mormon company? ›

Then of course, VidAngel's owned by 8,000 Americans of all different faiths. But the two founders, we are faithful members of the Church of Jesus Christ of Latter Day Saints.

What does VidAngel block? ›

VidAngel is an American streaming video company that allows the user to skip what objectionable content based on user preferences regarding profanity, nudity, sexual situations, and graphic violence.

Why was VidAngel removed from Roku? ›

Re: Roku no longer supporting VidAngel

Each time, Roku has declined to approve our channel without clarifying their position. That's why users have had to “sideload” our app onto their Roku device rather than downloading it from the official store."

How much does Angel TV cost? ›

Our shows are 100 percent free to stream. The fans own the shows. Our content is free of Hollywood's influence. We tell stories that make you laugh, make you cry, and leave you wanting more.

Is the Angel TV app free? ›

Is the Angel Studios app free? All episodes and movies on Angel.com can be streamed for free.

Do you have to pay for Angel Studios? ›

Angel Studios' shows are free for viewers around the world, and we intend to keep it that way.

What religion is the creator of The Chosen? ›

The Chosen is an American Christian historical drama television series created, directed and co-written by filmmaker Dallas Jenkins. It is the first multi-season series about the life and ministry of Jesus of Nazareth.

What happened between Angel Studios and The Chosen? ›

The new agreement between The Chosen and Angel Studios allows for worldwide sublicensing of The Chosen to be handled by a 3rd party. Lionsgate will now represent sublicensing worldwide outside of the global exclusive release window in the Angel Studios app and The Chosen app.

What religion is Angel Studios? ›

Angel Studios was co-founded by brothers Neal and Jeffrey Harmon, both whom belong to The Church of Jesus Christ of Latter-Day Saints (LDS), which has caused confusion for some fans of the show.

Is Angel One safe to invest? ›

Is Angel One Safe or not? Angel One is a SEBI-registered stock brokerage firm and a trading member of BSE, NSE, and MCX. All the transactions placed through the broker are regulated by SEBI regulations which make Angel One a safe broker for trading & investment.

How long does angel payout take? ›

Funds & Account Balance
DayPayout CycleFunds Credited to Client A/c (approximate time)
7:00 am9:30 am
Monday – Friday5:30 pm9:30 pm
7:00 am9:30 am
1st, 3rd & 5th Saturdays1:00 pm3:00 pm
1 more row

How much money can I withdraw from Angel One? ›

You can use only 80% of the amount to trade on T day (i.e. the day the transaction was executed), and you can withdraw the same on T+2 day. You can use the remaining 20% for trading or withdraw it only on T+2 day. For example – You have a ₹1000 delivery sell transaction on Monday. You can withdraw these on Wednesday.

How much money do you need to angel invest? ›

How much do angel investors usually invest? A typical investment is between $15,000 and $250,000, although it can vary significantly. Usually angel investors contribute a relatively small amount of capital into a startup company. Angel investors are often friends or family members.

How profitable is angel investing? ›

It's not uncommon for an angel investor to expect a 30% return on their money. Angel investors will have a ROI expectation in mind as part of their exit strategy. This is the point in time when they sell their equity in the company to make up their initial investment and any profits.

How does angel investment make money? ›

Angel investors make money by backing very early-stage startups they find promising, with investments typically ranging from $5,000 to $150,000. In exchange, they receive an ownership stake in the company and expect returns if the company succeeds.

Is The Chosen part of the Mormon Church? ›

“They happen to be correct in the first sentence…we're not anti-Christian, we're not produced by Mormons,” “The Chosen's” producers wrote. “But we're going to go out on a limb and guess there was a typo; which wouldn't be surprising, as most of our hate comments aren't written by English majors.

Is The Chosen biblical? ›

The Chosen stays true to the details that are in the text of the New Testament. Each episode takes artistic license to fill in the many blanks where the text does not go into detail, but this artistic license is all feasible considering the details that are provided.

Is VidAngel legal now? ›

PROVO, Utah – The Provo-based video filter service, VidAngel, has been quietly returning after its legal battle against popular movie studios. The company reemerged in April 2021 with its new CEO, Bill Aho telling customers they restructured and rebranded from the old company.

Did VidAngel win lawsuit? ›

Utah-based VidAngel settles $62 million copyright lawsuit with Hollywood studios. SALT LAKE CITY — VidAngel, the family-friendly movie filtering service that was the subject of years of copyright litigation, has settled a long-running multi-million dollar lawsuit with major Hollywood studios.

Does Netflix allow VidAngel? ›

Right now, VidAngel connects with your Apple TV+, Amazon, and Netflix subscriptions, but we know that you also want to connect to other services, like Vudu, HBO, Google Play, Peaco*ck, Hulu, Disney+, Plex, and more.

Which is better Roku or Firestick? ›

Key Takeaways: Roku is a better choice overall because it has more features and device options, and it has more channels/apps overall, including free content. However, it only works with Google and Alexa. Firestick is a better choice for Amazon Prime members and those who have Amazon Smart devices.

Is Roku being discontinued? ›

2023 will mark the end for the first 4K streaming player Roku ever made.

Why does Disney hate VidAngel? ›

The studios alleged that the method VidAngel used to filter and stream films to its users was illegal under copyright law because they broke the encryption on DVDs and Blu-rays. VidAngel contended that their method was legal under an exception provided by the Family Movie Act. Disney Enterprises, Inc.

Who owns the Angel Network? ›

However, Angel.com was acquired by Angel Studios for $2 million in a deal brokered by Sedo's Dave Evanson. The purchase, which tied for the sixth-largest publicly disclosed sale of 2021, was confirmed by Angel Studios' co-founder, Jeffrey Harmon.

What is the cheapest way to watch TV? ›

The cheapest live TV services for cord-cutting are the free ones: Pluto TV, Xumo, and Local Now. There are paid ones that cost very little, like Philo, Frndly TV, and Sling (especially the individual Blue or Orange plans).

Does Roku have Angel TV? ›

Angel, a drama series is available to stream now. Watch it on The Roku Channel, BET Plus or Sling TV - Live Sports, News, Shows + Freestream on your Roku device.

Is Angel free on Amazon Prime? ›

While Angel is not available free with Amazon Prime Video, all five seasons are available for purchase.

How much does Angel Studios cost? ›

Angel Studios' shows are free for viewers around the world, and we intend to keep it that way.

What's the difference between The Chosen app and Angel Studios app? ›

The two apps are distinct from each other, cooperative, and only slightly competitive. The Chosen app is more focused on ministry outreach, biblical roundtables, behind-the-scenes, deeper dives, and, we hope, one day direct connections between the show and the scriptures inside the app.

How much is pay it forward on Angel Studios? ›

Price: $15. $50.

What is the problem with The Chosen in the Bible? ›

It is, in fact, expressly unbiblical, blasphemous, and heretical. As can be seen, The Chosen can be charged with breaking the Second Commandment, removing Scripture as the all-sufficient guide for Christian faith and practice, and ignoring multiple texts concerning the addition and deletion of texts of Scripture.

Do Mormons believe Jesus is God? ›

The Book of Mormon establishes clearly that “Jesus is the Christ, the Eternal God, manifesting himself to all nations” (Book of Mormon title page; 2 Nephi 26:12). At the heart of the doctrine restored through Joseph Smith is the doctrine of the Christ.

Why did The Chosen leave Utah? ›

“We had pretty much decided on Malta, Bulgaria, or Utah, and we found out Utah was a no, and that was because of COVID,” Eves said.

What church is behind The Chosen series? ›

Concerns about the show's connections to LDS theology have been ongoing, as “The Chosen” is distributed by Angel Studios, which was co-founded by brothers Neal and Jeffrey Harmon, both of whom belong to The Church of Jesus Christ of Latter-Day Saints (LDS).

What network picked up The Chosen? ›

“The Chosen” will soon be available to watch on TV — The CW Network has acquired broadcasting rights to show the first three seasons of the series.

Where is Angel Studios The Chosen located? ›

Season 1 of The Chosen was filmed at Capernaum Studios, located just west of Fort Worth, Texas. It's a premiere location for TV shows and films set in the first century. Scenes from Season 1 were also filmed at the Jerusalem movie set located in Goshen, Utah.

Is Angel Studios owned by Mormon? ›

“The Chosen” is distributed by partner Angel Studios, a streaming video company that was co-founded by brothers Neal and Jeffrey Harmon, who are Latter-day Saints. Angel Studios raised millions through crowdfunding to fund the multiseason series about the life of Jesus Christ.

What religion is Jesus in The Chosen? ›

Portraying Jesus

As a self-proclaimed born-again Catholic, Jonathan is deeply touched to be playing the role of Jesus in The Chosen. Portraying these stories that help to honor God are meaningful to him and allow him to grow in his relationship.

Is Angel Studios owned by Mormons? ›

“The Chosen” is distributed by partner Angel Studios, a streaming video company that was co-founded by brothers Neal and Jeffrey Harmon, who are Latter-day Saints. Angel Studios raised millions through crowdfunding to fund the multiseason series about the life of Jesus Christ.

What does Angel Studios produce? ›

Angel Studios is a video streaming service and media company that finances its productions through equity crowdfunding. They are a film studio platform that enables creators and viewers to collaborate to produce high-caliber television and film without having to answer to Hollywood.

What is the new Angel Studios app called? ›

The Angel app is the home of record-shattering stories that amplify light. In the Angel app users can watch full episodes, cast to their television, pay-it-forward to fund future seasons of shows they love and buy official merchandise. Download the app below for free.

Why can't i find Angel Studios on Roku? ›

1) On the home screen, select "add channel" and scroll down on the menu to the "search" option: 2) Click on the search button and type in "Angel Studios". 3) Click on "Angel Studios" in the available options and select "Add Channel" to add the TV app.

Is The Chosen made by the LDS Church? ›

“They happen to be correct in the first sentence…we're not anti-Christian, we're not produced by Mormons,” “The Chosen's” producers wrote. “But we're going to go out on a limb and guess there was a typo; which wouldn't be surprising, as most of our hate comments aren't written by English majors.

What religion is behind The Chosen? ›

The Chosen is an American Christian historical drama television series created, directed and co-written by filmmaker Dallas Jenkins. It is the first multi-season series about the life and ministry of Jesus of Nazareth.

What is the next project for Angel Studios? ›

Angel studios also announced the release dates for two of their upcoming movies, SOUND OF FREEDOM (July 4th) and THE SHIFT (January 2024). The studio also revealed that previously announced projects THE TESTAMENT, PHARMA and THE GERMAN KING are going into production this year.

Who owns Angel Studios? ›

Neal Harmon is the Co-founder & CEO at Angel Studios . Additionally, Neal Harmon has had 6 past jobs including Co-founder at VidAngel . Family Literacy Centers,Inc.

Is Angel TV free? ›

ANGEL TV - A free HDTV channel proclaiming the soon coming of Jesus Christ.

How does Angel Studios make money? ›

Angel Studios owns Dry Bar Comedy, but by investing in Angel Studios, your ownership would otherwise only be in the platform that distributes the content from these other shows. Angel Studios' revenue is generated from the distribution of these shows.

How much does the angel app cost per month? ›

The Angel Watch app available on iOS or Android is a functional, secure feature-packed app available for free worldwide. There are no ongoing subscription costs for the app.

Is Angel channel on Roku free? ›

ANGEL TV - A free HDTV channel proclaiming the soon coming of Jesus Christ.

Why did Roku remove VidAngel? ›

Re: Roku no longer supporting VidAngel

Each time, Roku has declined to approve our channel without clarifying their position. That's why users have had to “sideload” our app onto their Roku device rather than downloading it from the official store."

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