Ben Affleck, Matt Damon to Start Film Production Company

By Brad Pareso 

Ben Affleck and Matt Damon are reuniting as business partners with the launch of Artists Equity, a production venture backed by RedBird Capital Partners that vows to expand profit participation and provide a “talent-friendly” environment to creatives. (Variety)

The two hope to capitalize on a shift in the film and television business: Streaming services like Netflix are beginning to care more about the quality of content than sheer volume. To give an incentive to high-caliber actors and off-camera artisans to work for them, Affleck and Damon said they intended to give those people a cut of the profit. (NYT)

Affleck and Damon combined have generated more than $10.7 billion in worldwide box office sales, 110+ feature films as star or costar, six produced screenplays, eight TV series as executive producer or writer, and earned three Academy Awards. They will lead the company. (Deadline)