Home » Business » Ben Affleck and Matt Damon announce plans to start new production company, Artists Equity
Ben Affleck and Matt Damon announce plans to start new production company, Artists Equity
Actor Matt Damon wants U.S. gun ban
Matt Daman and guns
Ben Affleck and Matt Damon are teaming up to start their independent production company, Artists Equity, they announced on Sunday.
The duo has received $100 million in financing from investment firm RedBird Capital Partners for their new endeavor, which puts a large focus on giving profits from projects back to the actors and all the crew members who play such a vital role in making movies and television shows happen.
"As streamers have proliferated, they have really ended back-end participation, and so this is partly an effort to try to recapture some of that value and share it in a way that’s more equitable," Affleck said in a phone interview with The New York Times. "Not just writers and directors and stars. But also cinematographers, editors, costume designers and other crucial artists who, in my view, are very underpaid."
Affleck will serve as the company's chief executive while Damon will become chief creative officer. According to Affleck, Damon will star in and produce a number of films exclusively for Artists Equity.