Angel Studios, the independent studio behind religious films such as the Sound of Freedom, rose as much as 70% in initial trading after completing its merger with a special purpose acquisition company https://t.co/SgA1TDjct0 ...

Company Overview & Business Model - Angel Studios is going public on the New York Stock Exchange through a SPAC merger, aiming to challenge Hollywood by allowing audiences to greenlight and fund content [1] - The company's model addresses the perceived disconnect between Hollywood gatekeepers and mainstream audiences, offering an alternative to recent best pictures that may not resonate with families [3] - Angel Guild members pay a monthly membership fee of $12 to $20, which grants them the ability to influence film and TV show selection and provides tickets for screenings, with membership fees supporting future productions [4] - Angel emphasizes a direct-to-audience approach, where the audience funds the projects, with 70,000 investors involved [13] Growth & Performance Metrics - The average audience score for Angel movies is 93%, which the company claims is the highest in the industry [6] - Angel's guild membership has grown from 500,000 to 1.5 million, with a target of 5 million members [6] - "Sound of Freedom" generated $250 million at the box office, exceeding expectations despite limited publicity and media criticism [8] Strategic Objectives & Future Outlook - Angel aims to scale its model globally [6] - The company believes it can be a consistently profitable media company [5][16] - Going public via SPAC allows Angel to maintain control over its mission [15][16] - Angel welcomes both ideological and business-focused investors [16] Content & Controversy - "Sound of Freedom" highlighted the issue of sex trafficking, but faced backlash, potentially due to industry forces protecting their profits [8][10] - The film attracted audiences from both sides of the political spectrum [9]