Thousands of crowdfunding investors who supported advertising for “Sound of Freedom” — the sleeper hit drama about child sex trafficking — have seen their enthusiasm repaid with a 20% profit in less than 90 days, the film’s distributor said Wednesday.
In the five weeks since its July 4 release, the faith-forward movie has raked in $172.8 million at the box office, putting it ahead of “Mission: Impossible — Dead Reckoning Part One” and “Indiana Jones and the Dial of Destiny” — two highly touted, big budget summer releases.
According to film distributor Angel Studios, “Sound of Freedom” is being shown in more than 2,000 theaters.
The “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,” Angel Studios CEO Neal Harmon said in a statement.
Mr. Harmon said supporters of the Provo, Utah, firm’s Angel Guild are “key to our theatrical strategy, and paying out as quickly as possible is always our first priority.”
Crowdfunding among the faith community has become a specialty for Angel Studios and a way to reach target audiences most likely to support new releases and buy tickets for a finished product.
Angel Studios has used crowdfunding for “The Chosen,” a seven-season drama on the life of Jesus and his disciples, to cover production costs and “pay it forward” in terms of distribution, creator Dallas Jenkins has said.