Ben Affleck and Matt Damon has started his own manufacturing company that will put creativity at the forefront of business and other companies seem to rip through red tape while ensuring that there is a constant revenue stream.
Both actors have filled the shoes of director, writer and actor multiple times, including Affleck’s last movie, The Tender Bar.
Cut the profit
The main idea of the business venture is for people in the movie biz to earn more money in another way. Usually moviegoers get paid up front for whatever the movie is, they want to take it old school and get a cut of the actual profit.
This was the way it was done before streaming services, they would get paid based on how it did in cinemas, and this would allow them to invest in the outcome of the project instead of cashing in and letting it go.
Reverse engineering film business
They both explained to the New York Times that “as streamers grow, they’ve really eliminated back-end participation, and so this is partly an attempt to try to recapture some of that value and share it more equitably.” Ben Affleck “Not just writers and directors and stars. But also cinematographers, editors, costume designers, and other important actors who, in my opinion, are underpaid.”
The company’s name is Artists’ Equity and it’s trying to do what studios can’t, giving creatives control over their vision without compromising politics.
They keep their own money in the company
Matt and Ben already have over $100 million in financing from RedBird Capital Partners – plus they’ve put up a large amount of their own money so they’re really invested in the project.