Angel Studios, the distribution company behind the record-breaking series “The Chosen,” has garnered nearly $50 million in investments to help transform the entertainment industry.
In hopes of bringing control of the entertainment industry back to consumers and creators, Gigafund, the venture capital firm behind Elon Musk‘s company SpaceX, has led in the financing of this ambitious venture.
Neal and Jeffrey Harmon, founders of Angel Studios, have seen over $100 million in annual revenue in just one year after Disney and Warner Bros. hit the brothers with a copyright infringement lawsuit over their entertainment platform, VidAngel. Launched in 2013, VidAngel was created to help families filter out language, nudity, violence and other content from movies and TV series.
Gigafund invested the largest amount of money in Angel Studios‘ latest venture. Others helping to support Angels Studios are original seed investors Alta Ventures and Kickstart Fund, while $5 million came directly from Angel Studios fans. These entities believe the distribution company is transforming the entertainment industry.
CEO Neal Harmon is at the helm of this next season as Angel gears up to distribute 300 titles. Everything produced over the next few years promises to be of the same quality as “The Chosen.”