Angel Studios Raises $10 Million Amid Hollywood's Shift to Crowd Investment

Angel Studios, the independent distributor behind the box office hit 'Sound of Freedom,' has successfully raised over $10 million through a new audience-investment initiative aimed at funding future film and television projects. This initiative is part of a broader trend in Hollywood where filmmakers and producers are increasingly turning to crowd investment to finance their projects. Notable figures such as Snoop Dogg and filmmaker Robert Rodriguez are also leveraging this model, asking fans to invest in their upcoming ventures. Additionally, the production company behind 'American Psycho' and 'Wall Street,' Pressman Film, has teamed up with Avalanche and Republic to raise funds for a slate of six new films, utilizing blockchain technology for tokenized shares and automated profit sharing. Legion M, a fan-driven backer of films like SXSW Prize Winner 'My Dead Friend Zoe,' has raised $5 million from 15,000 investors.