Morning Wire How Angel Studios is Winning the Box Office | 12.3.23
Dec 3, 2023
Neil Harmon, Co-founder and CEO of Angel Studios, shares insights on the company's revolutionary crowdfunding model that empowers audiences in filmmaking. Angel Studios has made waves with projects like 'The Sound of Freedom' and 'The Chosen', showcasing how viewer feedback can shape cinema. Harmon discusses the unique selection criteria that promote authentic storytelling and introduces 'The Shift', a modern romance film. He highlights the shift from traditional Hollywood gatekeeping to community-driven content creation, paving a new path for the industry.
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Crowdfunding Model
- Angel Studios uses a unique crowdfunding model called the Angel Guild.
- Thousands of investors provide feedback and vote on projects, influencing production decisions.
Wisdom of Crowds
- Neil Harmon references "The Wisdom of Crowds" to explain how diverse groups can make better decisions than experts.
- He cites examples like "Who Wants to Be a Millionaire?", where the audience answers correctly 91% of the time.
Reverse Audience Testing
- Angel Studios reverses traditional audience testing by having viewers invest in projects they want to see.
- Guild members vote on "torches" (concepts or films), directly influencing which projects get made.