The Boston boys are getting the team back together, as Ben Affleck and Matt Damon have announced they are launching a production company, Artists Equity, with the goal of ensuring filmmakers can get more profit from their works. This comes at a time when streaming services have taken a strong command over the entertainment industry.
In a statement to The New York Times, Affleck–who will serve as chief executive–said, “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.” He also said profits wouldn’t just be going towards marquee names or high-profile directors, but behind-the-scenes figures, like “cinematographers, editors, costume designers and other crucial artists who, in my view, are very underpaid.”
In an additional statement, Matt Damon–who will be chief creative officer–said Artists Equity will allow creators to “take ownership of their creative power, providing a platform for both established and emerging filmmakers to streamline the development of their content.”
The New York Times compared the venture to the original United Artists goal, which saw some of the biggest stars and directors of the day–Charlie Chaplin, Mary Pickford, Douglas Fairbanks, and D.W. Griffith–supporting actors and filmmakers in their attempts to garner creative control of their projects.
With the endeavor worth at least $100 million, there is certainly a lot at stake. But as Ben Affleck and Matt Damon have proven to be devoted supporters of creative types and the arts, one can be sure their commitment to this venture will be steadfast. For example, in the early 2000s, they played key roles on Project Greenlight, the HBO series that gave up-and-coming filmmakers the chance to direct their debut. It was briefly revived in 2015.
Affleck and Damon are also set to team up for a movie about Sonny Vaccaro, the Nike executive who signed Michael Jordan.
How do you think Ben Affleck and Matt Damon’s new production company will fare? Give us your prediction below!