'Sound of Freedom' Movie Studio Pays Back Crowdfunding Investors, Plus Gives Them Part of Profits
The movie Sound of Freedom is one of the surprise hits of the summer, outgrossing blockbuster movies like Mission: Impossible – Dead Reckoning Part One and Indiana Jones and the Dial of Destiny.
The film was made by Angel Studios and the studio used a crowdfunding method to raise money for the movie’s marketing budget and launch strategy. The movie, based on Operation Underground Railroad founder Tim Ballard, tells the “story of a former government agent turned vigilante who embarks on a dangerous mission to rescue hundreds of children from sex traffickers.”
6,678 people became “Angel Guild members” and invested their own money to help the project hit theaters… and it sure paid off for them.
Keep reading to find out more…
The movie has already grossed $173 million after 42 days in theaters and it still has potential to earn more.
Angel Studios just announced that all of the investors have been paid back, and they even have been given a part of the film’s profits.
“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. The Angel Guild is key to our theatrical strategy and paying out as quickly as possible is always our first priority,” Angel Studios CEO Neal Harmon said in a statement to TheWrap.
The film was involved with some controversial headlines recently due to one of the crowdfunders who was arrested.