Ben Affleck, Matt Damon Pact with RedBird for Artists Equity Launch

By | November 23, 2022

Ben Affleck and Matt Damon are reuniting as a business partnership to expand the RedBird Capital Partners-backed production venture’s profit participation and provide a “talent-friendly” environment for creatives.

Media tycoon Gerry Cardinale Redbird is said to have committed at least $100 million to the venture. Damon will serve as Chief Content Officer and Affleck will serve as CEO. Universal Pictures and STX Films stalwart Michael Joe has signed on as chief operating officer of the LA-based company.

“Artists’ Equity was born out of Matisse’s and my long-standing passion for narrative art and our love for it.
A shared desire to help creators deliver their visions, as we are fortunate enough to do in our day and age
Careers,” Affleck said in a statement. “Our goal with Artists’ Equity is to build a creator-centered studio that promotes the production process through shared participation in advertising.
Success of projects. We are very happy to partner with Jerry Cardinal and the RedBird team
Unique IP Me and Matt
We look forward to working together to nurture the creative minds of today and tomorrow.
entertainment industry”.

Artists Equity’s first project is already in production: an as-yet-untitled drama that Affleck wrote and directed about the birth of Nike’s iconic Air Jordan sneaker brand. Damon will be involved as a Nike executive who secured an endorsement deal with Chicago Bulls superstar Michael Jordan. Artists’ Equity joins Amazon Studios, Skydance Sports and Mandalay Pictures as producers on the film.

The partners said that the artists’ equity aims to release three projects by 2023 and at least five projects each year. The New York Times first reported on the invention.

“Historically, the success of a film has depended on its box office performance. Now, with increasing
With streaming, the business behind filmmaking has changed radically. However, Ben and I know
No matter what direction the industry takes, the power will continue to be in the hands of the creators.
Artists Equity Chief Content Officer Matt Damon said. “The equality of artists allows these visionaries to do
Take ownership of their creativity by providing a platform for both the established and emerging
Filmmakers to facilitate the development of their content. Ben and I are lucky to work together
Our collaboration with the best in the business and Jerry Cardinale and the RedBird team
It continues us in that direction as we seek to create and encourage creativity through artists’ equity.
platform”

There’s a long history in showbiz of artist-run companies pledging to build a better system than the ones in Hollywood’s biggest employers. Affleck and Damon will likely find a more welcoming environment for creatives and more generous profit-sharing points, even for high-profile creators considering the fundamentals of the content business and how it’s affecting the content business. Salaries of writers, directors, actors and producers. The upcoming 2023 union contract talks in the first half of 2023 by the Writers Guild of America, SAG-AFTRA and the Directors Guild of America will only intensify the A-list lobbying about compensation formulas during the streaming period.

Redbird has backed several media and sports partnerships since Cardinale’s founding in 2014, including David Ellison’s Skydance Media, LeBron James’ Springhill Media and the New York Yankees’ regional sports cable network, which Cardinale helped launch in 2002. Equality for artists is a big swing for RedBird in pure-play content creation. Cardinale said he has known Affleck and Damon for 20 years.

“Ben and Matt are some of the most talented entrepreneurs in the entertainment industry, and now we
It can propel founders to their longest successes,” said Cardinale, founder and managing director.
RedBird Capital Partner. “The investment research behind Artists Equity is consistent with RedBird’s.
Track record in backing proven founders and entrepreneurs with capital based on scalable solutions
Creating innovative intellectual property monetization platforms. Artists’ Equity is an independent studio that enables content creators to navigate this dynamic landscape and maximize value for visionary storytelling. Premium today is moving more towards quality, which goes back to Ben and Matt’s excellent track record as filmmakers in writing, directing, producing and acting. Under their brand, Artists’ Equity offers projects that meet the growing demand for content as well as wider participation in the production value chain.

Matt Donnelly contributed to this report.

Category: tv

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