Ben Affleck and Matt Damon reunite as business partners with the launch of Artists Equity, a production company backed by RedBird Capital Partners that promises to expand profit sharing and provide a “talent-friendly” environment for creatives.
Media investor Gerry Cardinale’s RedBird is said to have pledged at least $100 million to fund the venture. Affleck will serve as CEO, while Damon will serve as chief content officer. Michael Joe, an alum from Universal Pictures and STX Films, has signed on as chief operating officer.
“Artists Equity was born out of Matt’s and my longstanding passion for the art of storytelling and our
shared desire to help creators realize their vision, as we have been privileged to do throughout our project
careers,” Affleck said in a statement. “Our goal with Artists Equity is to build a creator-focused studio that can optimize the production process with shared participation in the commercial
success of projects. We are thrilled to partner with Gerry Cardinale and the RedBird team, who are a
long track record of building remarkable scaled platform companies around unique IP. Matt and I are
I look forward to working together to empower current and future creative minds
Artists Equity’s first project is already in production, an as-yet-untitled drama Affleck wrote and directed about the birth of Nike’s wildly popular sneaker brand Air Jordan. Damon stars as the Nike executive who landed the endorsement deal with Chicago Bulls superstar Michael Jordan. Artists Equity joins Amazon Studios, Skydance Sports and Mandalay Pictures as producers of the film.
The partners said Artists Equity aims to release three projects by 2023 and a minimum of five projects per year thereafter. The New York Times first message about the company.
“Historically, a movie’s success was based on box office performance. Now, with the rise of
streaming, the business behind making movies has intrinsically changed. However, Ben and I know that the
power will remain in the hands of the creators no matter which direction the industry takes,”
said Matt Damon, Chief Content Officer of Artists Equity. “Artists Equity empowers these visionaries to
take ownership of their creative power and provide a platform for both established and emerging ones
filmmakers to streamline their content development. Ben and I are lucky enough to have worked with
some of the best in the industry, and our partnership with Gerry Cardinale and the team at RedBird
continue on that journey as we seek innovation and empowerment through the Artists Equity
Matt Donnelly contributed to this report.
(Pictured: Matt Damon and Ben Affleck)
More to come