Angel Studios is starting a new chapter as a publicly traded company.

The Utah-based business, best known for distributing and crowdfunding faith-driven content, has completed its SPAC merger with Southport Acquisition to go public. (SPACs, or special purpose acquisition companies, help facilitate mergers to allow a company to go public faster than a traditional IPO route.)

It’s a move that has been in the works since last year, and the company is now valued at roughly US$1.6 billion, with CEO and co-founder Neal Harmon remaining at the helm.

The Wingfeather Saga

With access to public markets and more capital resources, Angel plans to ramp up its push for Christian-themed content and promoting “value-based storytelling”—which has already spawned animated shows like Tuttle Twins, The Wingfeather Saga and Young David.

The company has also benefited from a heightened market demand for faith-based content that has driven more crowdfunding and buyer activity in the genre of late.

While Angel’s most notorious theatrical release so far is arguably the older-skewing thriller Sound of Freedom (2023), it has also had success reaching kids and families at the cinema this year, thanks to The King of Kings (featured image).

The company distributed this Mofac Studios-produced animated feature in which Charles Dickens narrates the story of Jesus Christ to his son. The film grossed US$76.8 million against a budget in the US$25-million range.

Angel operates a same-name streaming service, as well as an exclusive membership known as the Angel Guild, which has 1.5 million members who can review episodes and movies in the pipeline and offer financial support. The company is planning to expand the Guild after closing a US$100-million credit facility loan with Trinity Capital.