Christian Studio Prepares To Go Public After Massive Success
Angel Studios, renowned for its work in producing, funding, and distributing popular faith-based films and television content, is preparing to go public. The company has announced a strategic partnership with Southport Acquisition Corporation, aiming to list on the New York Stock Exchange or NASDAQ under the ticker symbol “AGSD.” The deal is anticipated to be finalized in the first half of 2025.
In a recent investor presentation filed with the Securities and Exchange Commission, Angel Studios outlined several key benefits of investing in the company. These include its commitment to supporting filmmakers who prioritize audience needs, shaping the future of entertainment, advancing its mission to spread positive narratives, and its strategic asset, Bitcoin, which provides indirect ownership benefits.
The presentation also highlighted the unique role of the Angel Guild, a membership group that has the authority to approve films and shows before their release, thereby providing a steady and growing revenue stream. Angel Studios aims to address the industry’s current challenges where a small group of Hollywood executives make most decisions, often leading to a high failure rate at the box office. The Angel Guild, with its expanding membership base, is seen as a solution by democratizing the decision-making process.
Membership in the Angel Guild, which now exceeds 300,000 members, is available for $20 per month or $179 annually. Members can vote on upcoming projects, participate in exclusive livestreams, enjoy early access to content, receive two movie tickets for each theatrical release, and benefit from a 20% discount on merchandise from the company’s online store.
Angel Studios has achieved significant success with its recent releases, including “Sound of Freedom,” which grossed over $250 million worldwide following its 2023 release. The company was also involved with “The Chosen,” a popular crowdfunded series about the life of Jesus Christ. However, it parted ways with the series earlier this year.
The company’s investor presentation notes that six out of seven of its feature films have earned at least $10 million in revenue, outperforming competitors such as Lionsgate and A24, where fewer films hit this revenue mark. Films produced by Angel Studios in 2023 and 2024 averaged a 95% score on Rotten Tomatoes’ audience meter, surpassing Paramount’s 84% and Disney’s 79%. In comparison, HBO, A24, and Netflix scored lower.
Previously known as VidAngel, Angel Studios rebranded in 2021 after being sold and has continued to build on its reputation in the faith-based entertainment sector.