The hit status of the Sound of Freedom has made the 6,678 individuals who invested in it a little richer.
Distributor Angel Studios announced on Wednesday that the 6,678 people who invested in the marketing budget of the film – the P&A (prints and advertising) – will be paid back their investment plus a 20 percent profit.
Angel's unique model allows movie fans to invest in projects either on the production or the P&A side – sometimes both. (Production of Sound of Freedom was finished by the time Angel Studios got involved.)
"6,678 Angel Guild members have now received $1.20 for every $1 they invested into the launch budget for Sound of Freedom, and we are thrilled to be able to get funds back to them in three months," said Neal Harmon, CEO of Angel Studios. "The Angel Guild is key to our theatrical strategy and paying out as quickly as possible is always our first priority."
The film, inspired by real events, tells the true story of a U.S. federal agent who quit his position in order to rescue children from sex trafficking. It has grossed roughly $175 million at the box office.
Brandon Purdie, vice president and head of theatrical distribution at Angel Studios, previously told Christian Headlines the Angel Guild is key to the studio's success. The guild is a pool of some 100,000 supporters who watch concept footage or fully completed films and vote on whether the studio should back it.
"By the time we come to opening weekend, we're not going to the theater to find out whether we have an audience," Purdie said. "We're going with the audience that already voted for the project to go to Angel, already helped get it to be crowdfunded. We're going to the theater to celebrate with a built community that's passionate about the project."
Photo courtesy: ©Angel Studios, used with permission.
Michael Foust has covered the intersection of faith and news for 20 years. His stories have appeared in Baptist Press, Christianity Today, The Christian Post, the Leaf-Chronicle, the Toronto Star and the Knoxville News-Sentinel.