What Is A24?
A24 Films LLC is a private film and television studio based in New York. Daniel Katz, David Fenkel and John Hodges announced it on August 20, 2012 as a company that would distribute, finance and produce films, with seed money from Guggenheim Partners, where Katz had led the film finance group. Hodges left in 2018, and Katz and Fenkel still run the company.
A24's films include Spring Breakers, Ex Machina, Room, Moonlight, Lady Bird, Hereditary, Uncut Gems, Everything Everywhere All at Once, The Whale, Past Lives, Civil War, Marty Supreme and Backrooms. Its television work includes Euphoria and The Idol for HBO, Beef for Netflix, Ramy for Hulu and Hazbin Hotel for Prime Video. By 2024 Variety counted a catalog of about 150 films and 50 series and 16 Oscars.
How A24 Makes Money
A24 is private and does not publish revenue or profit, so this profile does not estimate them. Its films earn money in theaters, through premium video on demand, and then through licensing. In the U.S., A24 films stream on HBO and HBO Max during the pay-1 window under a deal renewed in January 2026. Apple signed a multi-year deal in 2018 for A24 to produce a slate of films, and partners such as Leonine Studios in Germany and Austria handle releases abroad.
A24 also sells directly to fans. The A24 shop sells apparel, screenplay books and film-themed products, often made with brands such as Online Ceramics, Brain Dead and Houseplant. The AAA24 membership launched in April 2022 and was relaunched in December 2024 at $10 a month with a ticket to each A24 film on opening weekend. In 2023 A24 bought the Cherry Lane Theatre in the West Village for a recorded $10,026,428, and it reopened the venue in 2025.
Funding and Valuation
A24 explored a sale at $2.5 billion to $3 billion in 2021 but instead took outside equity. In March 2022 Stripes led a $225 million investment that valued the company at $2.5 billion. In June 2024 Thrive Capital led a round that valued it at about $3.5 billion, and Josh Kushner joined the board. In June 2026 Google invested about $75 million, according to the Wall Street Journal, as part of an AI research partnership with DeepMind.
Hits and Misses
Moonlight won Best Picture in February 2017. Everything Everywhere All at Once grossed about $143 million worldwide and won seven Oscars in March 2023, and Brendan Fraser won Best Actor for The Whale the same night. Beau Is Afraid grossed just over $10 million on a $35 million budget in 2023. Civil War cost $50 million and grossed about $127 million worldwide in 2024, and Marty Supreme earned about $191 million. Backrooms, made for about $10 million, opened to $81 million domestically in May 2026 and reached about $400 million worldwide, the biggest result in A24's history.
Competitors and Risks
A24 competes with Neon, Searchlight Pictures, Focus Features, Lionsgate, Sony Pictures Classics, Netflix, Amazon MGM Studios and Apple. Its main risks are hit concentration and rising budgets, and its 2026 deals with Google DeepMind and Dior drew criticism from fans who worry the studio is trading on their loyalty. Upcoming projects include an Elden Ring film by Alex Garland planned for 2028.
