Ben Affleck, Matt Damon sign multi-year deal with Netflix
What's the story
Hollywood actors Ben Affleck and Matt Damon have signed a multi-year production and distribution deal with Netflix for their company, Artists Equity. The pact will see Artists Equity oversee creative and production aspects of its films, exclusively for straight-to-streaming projects. The company also has a theatrical feature film deal with Sony Pictures, under which it will produce films for the big screen.
Statement
Damon, Affleck's statement on the deal
In a joint statement, Damon and Affleck said, "This is an incredible milestone for Artists Equity and one that validates the vision we've been working toward since 2022." They added, "From the jump, we've seen this growing need for an independent supplier comfortable across the entire creative process, from development to final cut. Netflix is a great match for our work."
Praise
Here's what Netflix Film chief Dan Lin said
Netflix Film head Dan Lin also expressed his excitement over the deal. He said, "We're expanding our partnership with Artists Equity because they share our mission — to make bold, original films." "Ben and Matt don't wait for opportunities, they create them: from making and starring in ambitious, original films to building an innovative studio model."
Previous success
'The Rip' topped Netflix's global charts for 3 weeks
The announcement of this deal comes after the success of The Rip, an action thriller starring Damon and Affleck. The film topped Netflix's global top 10 charts for three weeks and garnered 112.3 million views over six weeks. Later this year, Netflix will also release Affleck's next directorial venture, Animals, in which he stars alongside Kerry Washington, Gillian Anderson, and Steven Yeun.
Company goals
Artists Equity aims to create a 'talent-friendly' environment
Artists Equity, backed by RedBird Capital Partners, aims to expand profit participation and create a "talent-friendly" environment for creatives. The duo has stated their goal is to "fill a substantial gap in the marketplace as an outside supplier with the full capabilities of a traditional studio." The company currently operates across three divisions: scripted film and television, unscripted, and advertising.