Sunday, March 26, 2023
Account
Write for us
USA Wire
  • News
    • Politics
    • Sports
    • World
  • Business
    • Entrepreneurship
    • Finance
    • Marketing
  • Culture
    • Lifestyle
    • Celebrity
    • Travel
  • Entertainment
    • Gaming
  • Sports
  • Health
    • Food
    • Fitness
  • Crypto
  • Technology
No Result
View All Result
  • News
    • Politics
    • Sports
    • World
  • Business
    • Entrepreneurship
    • Finance
    • Marketing
  • Culture
    • Lifestyle
    • Celebrity
    • Travel
  • Entertainment
    • Gaming
  • Sports
  • Health
    • Food
    • Fitness
  • Crypto
  • Technology
No Result
View All Result
USA Wire
No Result
View All Result
Home Business

Elon Musk VC Backs Angel Studios

USA Wire Staff<span class="bp-verified-badge"></span> by USA Wire Staff
January 5, 2022
in Business
Reading Time: 3 mins read
Elon Musk VC Backs Angel Studios
12
SHARES
84
VIEWS
Share on FacebookShare on Twitter

Angel Studios, Streaming Platform Behind “The Chosen”, Raises $47 Million Investment Led by Gigafund to Give Hollywood a Remake

(Provo, UT—January 5, 2021, 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.

RecommendedReads

How to Use Influencers to Boost Social Media Followers

Advantages of Having a Steel Construction

Dronedek Awarded Best Product in Products That Count Awards

“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 Co-founder 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.” 

Tags: Angel StudiosElon MuskGigafundHollywoodRemakeStreaming Platform
Share5Tweet3Share1
Previous Post

Evmux Is Set To Launch Compelling Live Streaming Solution For Creators

Next Post

What’s behind the popularity of mobile payments in Africa?

USA Wire Staff<span class="bp-verified-badge"></span>

USA Wire Staff

USA Wire is a millennial-focused news publication that provides content in a way that relates to the modern world. USA Wire strives to provide unbiased and accurate coverage of current events, highlighting both the good and bad.

Related Posts

edit post
Marketing Momentum
Marketing

What is Marketing Momentum?

March 24, 2023
edit post
Workplace
Business

Workplace Bullying is a Global Epidemic: How Leaders Can Navigate It

March 24, 2023
edit post
5 Creative Ideas Insurance Agents Can Use To Build A Customer Base
Business

5 Creative Ideas Insurance Agents Can Use To Build A Customer Base

March 22, 2023
Next Post
edit post
What’s behind the popularity of mobile payments in Africa?

What’s behind the popularity of mobile payments in Africa?

edit post
Top 5 Things to do in Branson Includes an Upside-Down Adventure

Top 5 Things to do in Branson Includes an Upside-Down Adventure

edit post
America’s Best Cities for Singles This Cuffing Season

America’s Best Cities for Singles This Cuffing Season

Discussion about this post

Follow us

Recommended

edit post
Finding a Car Accident Attorney to Help You

Finding a Car Accident Attorney to Help You

7 months ago
edit post
DJ Smiles is Next Up

DJ Smiles is Next Up

6 months ago
edit post
risk

Is Walking Alone Enough to lower the risk of disease?

5 months ago
edit post
King Gorilla & T Eazy New Hit Single – “Whippin”

King Gorilla & T Eazy New Hit Single – “Whippin”

5 months ago

Categories

  • Business
  • Celebrity
  • Construction
  • Crypto
  • Culture
  • Electrical
  • Entertainment
  • Entrepreneurship
  • Finance
  • Fitness
  • Food
  • Gaming
  • Health
  • Home Improvement
  • Lifestyle
  • Marketing
  • Medicine
  • Movies
  • Music
  • News
  • Opinion
  • Politics
  • Sports
  • Technology
  • Travel
  • Uncategorized
  • World

Topics

2018 FIFA World Cup (9) 2018 League (12) Alcatraz East (8) America (10) Asian Games 2018 (17) Balinese Culture (10) Bali United (9) book (8) Budget Travel (17) Business (17) celebrity (15) Chopper Bike (11) clothing (8) dadsrc (9) Digital (8) Entrepreneur (10) family (9) Featured (8) fitness (11) food (11) fun (11) future (10) Health (29) healthcare (8) home (16) Idenfy (9) impact (8) Istana Negara (17) life (9) Market Stories (22) museum (8) music (11) National Exam (13) New (9) nightclub (9) pandemic (11) partnership (10) Paws of War (13) performance (10) podcast (11) summer (14) technology (8) tips (16) Visit Bali (16) WonderWorks (19)
USA Wire

© 2021 USA Wire

Navigate Site

  • Write For Us
  • Contact
  • My Account

Follow Us

No Result
View All Result
  • Thought Leader Council
  • Politics
  • News
  • Business
  • Culture
  • Sports
  • Lifestyle
  • Travel

© 2021 USA Wire

Go to mobile version