“Share Profit Fairly” – Affleck and Damon start their own production company

Unlike streaming services and most studios, Artists Equity aims to share revenue with the actors and creators. The production company was founded by old friends Matt Damon and Ben Affleck.

The goal with Artists Equity is to build a studio that puts the authors at the center and can optimize the production process through a joint participation in the commercial success of the projects.

The studio’s first project, directed by Affleck and starring Damon, is a feature film about the Air Jordan brand, due for release early next year in 2023. The company plans to eventually publish a minimum of five projects per year.

According to the New York Times, Hollywood’s most powerful stars, directors and writers have increasingly expressed displeasure with streaming-era salaries. The streaming services are mainly accused of refusing to share the revenue of the blockbusters. However, this has been the norm for the past several decades.

With the independent production company Artists Equity, this must now be countered. Affleck and Damon plan to pledge a portion of the profits to those on and off camera.

The Los Angeles-based company will be led by Affleck and Damon will serve as chief creative officer. In addition, Michael Joe, former Chief Operating Officer (COO) of STX Films and former Vice President of Universal Pictures, has been named COO. The company is partly financed by RedBird Capital Partners.

Both Affleck and Damon said they would only be producing and performing on camera for Artists Equity from now on.

Ben Affleck and Matt Damon have been friends for decades: both grew up in Cambridge, Massachusetts and have known each other since they were ten years old. Since then, both have had an extremely successful journey in the world of cinema. Affleck and Damon have collaborated on several projects, including Good Will Hunting and Field of Dreams. (lacquer)