‘Sound of Freedom’ distributor Angel Studios goes public, touting ‘values-driven’ movies

by

On Thursday, distributor Angel Studios went public for the first time, aiming to broaden their streaming platform’s reach domestically and break into foreign markets in the future.

Based in Provo, Utah, this company’s shares are listed and traded on the New York Stock Exchange using the code ANGX. Today, its stock increased by 8%, reaching a price of $13 per share.

The latest move by Angel Studios, going public, signifies another unusual milestone on their path into the entertainment industry.

Hollywood Inc.

After a challenging initial quarter for box office sales, movie studios unveiled their top movies, as well as A-list actors, during the annual CinemaCon expo held in Las Vegas.

The company, initially established by brothers Neal, Daniel, Jeffrey, and Jordan Harmon under the name VidAngel, provided a unique service that enabled movie viewers to filter out explicit content such as sex, violence, and strong language from Hollywood movies. However, in 2016, VidAngel found itself in legal trouble due to copyright infringement claims brought forth by The Walt Disney Company and Warner Bros. These media giants argued that VidAngel’s operation, which involved the purchase of numerous DVDs and Blu-rays to stream online, essentially amounted to piracy.

In the end, VidAngel resolved the legal matter, leading to the Harmon brothers selling their filtering business division. Subsequently, the company underwent a name change to Angel Studios, where they retained their operations in content creation and crowd-funding.

Currently, this company manages a streaming platform as well as distributes films in cinemas. Notable recent releases include “Sound of Freedom,” which raked in $250 million globally in 2023, and the May-released animated film, “The King of Kings,” narrating the story of Jesus. The studio prioritizes what it refers to as “values-driven narrative,” and its movie selection is decided by the vote of its 1.5 million Angel Guild members, who additionally enjoy complimentary movie tickets and other benefits.

Jordan Harmon, president, stated, “It’s essentially a mix of tales appealing to a wide range of viewers.” He further explained that films such as ‘The Sound of Music,’ ‘Casablanca,’ and ’12 Angry Men,’ which captivated the hearts of tens, if not hundreds, of millions worldwide, are prime examples. These stories, he believes, align perfectly with our mission of amplifying positive values through storytelling on a broad scale.

Despite being small in the Hollywood context, Angel Studios transitioned into a publicly traded company due to the demand from its approximately 70,000 investors. The CEO, Neal Harmon, confirmed this. To achieve this status, the company combined forces with a special purpose acquisition company (SPAC), specifically Southport Acquisition Corp. A SPAC can be thought of as a pre-made shell company established for the sole purpose of acquiring private businesses and taking them public without undergoing the detailed examination that typically comes with an Initial Public Offering (IPO).

He stated that they’re revolutionizing the standard operating procedures within their industry. Since they opted out of the traditional Hollywood system where gatekeepers play a significant role, they also had to secure funding in an innovative and non-conventional manner.

The farm where the brothers grew up, located quite a distance from Idaho’s potato fields, stood isolated with the closest neighbor a quarter-mile away. Over the years, working side by side on the farm and sharing living quarters fostered strong communication and a deep bond between the siblings, as explained by Jeff Harmon, the chief content officer.

In a nutshell, he remarked that the most remarkable collaborations in Hollywood are often between siblings. He then pointed out some notable examples such as the Disney, Warner, and Nolan families who have made significant contributions to the movie business. When these partnerships function exceptionally well, they can prove to be indomitable.

Read More

2025-09-12 01:31