A leading entertainment platform, Vidangel empowers users to filter language, nudity, violence, and other content from movies and TV shows. It has been engaged in a high-profile legal battle with Disney, Warner Bros, 20th Century Fox, and Lucasfilm to prevent VidAngel filtering services. These Hollywood studios have taken legal action in an effort to gut the 2005 Family Movie Act and prevent VidAngel from lawfully empowering parents and families to filter content on modern devices in their homes. The Hollywood Studios have sought an injunction of VidAngel services, but Deadline Hollywood reports on November 14 that a federal judge made no immediate decision on a VidAngel injunction. The judge did not say when he might rule. The next hearing for this case is scheduled for December 16. Fighting against profanity in movies Vidangel mission gains support through their highly successful fundraiser.
VidAngel is the only service that allows consumers to filter out offensive content while streaming the remaining content to their personal viewing devices, wherever they happen to be. VidAngel is clearly operating within both the spirit and the letter of the Family Movie Act. VidAngel allows each parent and each family to consume entertainment content precisely in accord with their unique standards. If the Hollywood studios convince the court to interfere with VidAngel’s legitimate and lawful business, American families will lose the rights granted to them by Congress in the Family Movie Act.
To fund its legal expenses, VidAngel has reached out to customers in a Regulation A+ offering, as reported recently by Equities.com. Reg A+ of Title IV of the JOBS Act is a type of offering that allows private companies to raise up to $50 Million from the public. VidAngel with their fast Reg A+ Raise has raised has raised $10 mill from 7,550 investors and have completed their offering. They went live October 19th in the evening and closed their first tranche of $6.25 mill on Oct 21st. Director of Finance, Patrick Reilly, after completing the first tranche, paused their offering for a week to figure out how to accept investors from the states with more restrictive rules for offerings that do not include a national broker-dealer (TX and FL included). Then he reopened the offering on October 28th and closed it on the 31st, having reached their goal of $10 mill. The two tranches together took all of five days to fill.
VidAngel has produced an excellent pitch video that provides a good example with effective humor of how to present a Reg A+ offering video pitch. They also have a large fan base of 150k customers. They presented their offering to most active customers. Further, VidAngel has strong consumer appeal.
VidAngel provides a custom movie filtering service through which consumers buy the movie of their choice for $20 and use VidAngel’s program to remove the undesirable parts of the movie. The consumer can watch the movie and sell it back to VidAngel for $19, leaving a net cost of $1 for the entire experience.
For its court case, many national leaders have submitted declarations to the court in support of VidAngel.
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