Ben Affleck and Matt Damon launch Production Co. with RedBird Capital’ – Deadline

Like Mike Fleming from Deadline reported in june of this year, Capital of the Red Birds Partners today confirmed the details of that story. ben affleck, Matt Damon Y gerry cardinal are launching an artist-led studio that partners with filmmakers to empower creative vision and expand access to profit sharing.

the new studio, artist equitywill seek to create “business partnerships” with filmmakers.

Terms were not disclosed. RedBird Capital is making what it calls “a significant financial commitment at the launch of the company, providing strategic capital and operating expertise to accelerate its development and production.

Affleck and Damon combined have generated more than $10.7 billion in worldwide box office sales, more than 110 feature films as star or co-star, produced six screenplays, eight television series as executive producer or writer, and won three Academy Awards. They will run the company.

Artists Equity is an intellectual property monetization platform anchored on three basic principles, according to the announcement:

• Expand access to profit sharing: Provide performance-based incentives to creators and crew that allow all participants in the production value chain to share profits;
• Drive IP monetization through creator partnerships: Focus on partnering with emerging and established filmmakers who want to work in a talent-friendly environment with leadership that understands and supports their creative vision;
• Leverage a data-driven distribution approach: Use insights derived from proprietary databases to better inform distribution strategy decision-making, optimizing content reach and valuation.

The first Artists Equity project will feature Affleck as the director and Damon stars and a cast that includes Affleck in the true story behind the creation of the iconic Air Jordan brand, slated for a 2023 release in association with Amazon Studios, Skydance Sports and Mandalay. Photos.

The company anticipates launching three projects in 2023, with plans to scale up and launch a minimum of five projects per year in the future.

“Artists Equity was conceived out of Matt’s and my passion for the art of storytelling and our shared desire to help creators fulfill their vision, as we have been fortunate to do throughout our careers,” he said. Affleck, who will serve as CEO. official. “The entertainment industry is defined by great partnerships (writers, directors, producers, crew, actors) and throughout my career I have learned that collaboration is what drives success. Our goal with Artists Equity is to build a creator-focused studio that can streamline the production process with a shared stake in the commercial success of projects. We are delighted to partner with Gerry Cardinale and the RedBird team, who have a long track record of building remarkable platform-to-scale businesses around Single IP. Matt and I look forward to working together to empower current and future creative minds in the entertainment industry.”

“Historically, the success of a film was based on its performance at the box office. Now, with the rise of streaming, the business behind movie-making has inherently changed. However, Ben and I know that the power will continue to be in the hands of the creators, no matter which direction the industry evolves in,” said Damon, who will serve as chief content officer. “Artists Equity allows these visionaries to own their creative power, providing a platform for both established and emerging.
filmmakers to expedite the development of their content. Ben and I are fortunate to have worked with some of the best in the business, and our partnership with Gerry Cardinale and the RedBird team continues us on that journey as we seek to innovate and empower through the Artists Equity platform.”

“Ben and Matt are two of the most talented entrepreneurs in the entertainment industry, and now we can add founders to their long list of accomplishments,” added Gerry Cardinale, founder and managing partner of RedBird Capital. “The investment thesis behind Artists Equity is consistent with RedBird’s track record of backing proven founders and entrepreneurs with scalable solution-based capital to create innovative intellectual property monetization platforms. Over the past 20 years since Ben, Matt and I met, we have been involved in the evolution of content monetization in our respective careers, culminating most recently in the streaming phenomenon and its current evolution from volume to quality. Artists Equity is an independent capitalization studio that will enable content creators to navigate this evolving landscape and maximize the value of their visionary storytelling. Today’s premium is shifting more towards quality, which suits Ben and Matt’s trajectory as filmmakers very well in terms of writing, directing, producing and acting. Under his curation, Artists Equity will deliver projects that meet the growing demand for critically acclaimed content while enabling broader profit sharing throughout the production value chain.”

Artists Equity will be based in Los Angeles and will be led by Affleck, Damon and the COO. michael joeformer COO of STX Films and former Executive Vice President of Universal Pictures.

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