Ben Affleck and Matt Damon are launching a production company designed to boost streaming profits for artists

Ben Affleck and Matt Damon are significantly expanding their longstanding creative partnership. In an interview with The New York Times, the two actors announced the creation of Artists Equity, a new production company aimed at giving artists a bigger share of streaming profits.

The company has already raised over $100 million in funding, primarily from investment firm RedBird Capital Partners. Affleck is the company's CEO and Damon is the creative director. Affleck plans to work exclusively on Artists Equity films in the future, while Damon has signed on to star in an undisclosed number of films for the company. Damon will also do all of his future production through the label.

The decision to start the company was driven by Hollywood's emphasis on streaming and a lack of opportunities for actors and craftsmen to share in box office and syndication profits. Damon and Affleck plan to disrupt this business model by offering top talent a higher percentage of profit in exchange for lower salaries.
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"As streamers have proliferated, they've really shut down back-end participation, and so it's partly an effort to try to recoup some of that value and sharing it in a more equitable way," Affleck said. "Not just writers and directors and stars. crucial artists who I believe are grossly underpaid."

Affleck said the experience of running a production company opened his eyes to the difficulty of the business side of Hollywood, but that doesn't mean he regrets taking the plunge. On the contrary, he would have liked to have done it earlier.

"There was a part of me, I have to admit, it was like - come on, these studio guys are sitting behind desks and make phone calls. The artists are the ones who have to go and make the movie and do all the work. I've been humiliated already," he said. "But my only regret is that I didn't have the sense of myself to try this sooner. Now I feel very ready to do so. I'm just at that time in life where you have enough experience, confidence and confidence."

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Movies Nov 21, 2022 0 56 Add to Reading List

Ben Affleck and Matt Damon are launching a production company designed to boost streaming profits for artists

Ben Affleck and Matt Damon are significantly expanding their longstanding creative partnership. In an interview with The New York Times, the two actors announced the creation of Artists Equity, a new production company aimed at giving artists a bigger share of streaming profits.

The company has already raised over $100 million in funding, primarily from investment firm RedBird Capital Partners. Affleck is the company's CEO and Damon is the creative director. Affleck plans to work exclusively on Artists Equity films in the future, while Damon has signed on to star in an undisclosed number of films for the company. Damon will also do all of his future production through the label.

The decision to start the company was driven by Hollywood's emphasis on streaming and a lack of opportunities for actors and craftsmen to share in box office and syndication profits. Damon and Affleck plan to disrupt this business model by offering top talent a higher percentage of profit in exchange for lower salaries.

Related Related

"As streamers have proliferated, they've really shut down back-end participation, and so it's partly an effort to try to recoup some of that value and sharing it in a more equitable way," Affleck said. "Not just writers and directors and stars. crucial artists who I believe are grossly underpaid."

Affleck said the experience of running a production company opened his eyes to the difficulty of the business side of Hollywood, but that doesn't mean he regrets taking the plunge. On the contrary, he would have liked to have done it earlier.

"There was a part of me, I have to admit, it was like - come on, these studio guys are sitting behind desks and make phone calls. The artists are the ones who have to go and make the movie and do all the work. I've been humiliated already," he said. "But my only regret is that I didn't have the sense of myself to try this sooner. Now I feel very ready to do so. I'm just at that time in life where you have enough experience, confidence and confidence."