Hollywood stars Ben Affleck and Matt Damon are teaming to launch a movie manufacturing firm with a view towards providing content material creators extra monetary upside for commercially profitable tasks.
The studio's first undertaking, directed by Affleck and starring Damon, is a characteristic movie concerning the Air Jordan model and is slated for launch in 2023. The corporate, referred to as Artists Fairness, ultimately plans to launch at the least 5 tasks per yr.
"Artists Fairness was conceived from Matt's and my longtime ardour for the artwork of storytelling and our shared need to assist creators ship on their imaginative and prescient, as we have now been lucky to do all through our careers," Affleck, who will function the corporate's CEO, stated in an announcement on Sunday.
"Our aim with Artists Fairness is to construct a creator-focused studio that may optimize the manufacturing course of with shared participation within the industrial success of tasks," he added.
The corporate is backed by non-public funding agency RedBird Capital Companions. Phrases of the deal weren't disclosed.
Collectively, Affleck and Damon have generated greater than $10.7 billion in worldwide field workplace gross sales. One of many targets of the brand new three way partnership is to extra equitably share income with filmmakers, together with creators and crew members, as video streaming begins to eclipse conventional theatrical launch codecs.
"Traditionally, the success of a movie was based mostly on its field workplace efficiency. Now, with the rise of streaming, the enterprise behind filmmaking has intrinsically modified," Damon, the chief content material officer or Artists Fairness, stated in an announcement. "Nonetheless, Ben and I do know that the ability will proceed to be within the fingers of the creators, regardless of which path the trade evolves."