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CBS Sunday Morning – Ben Affleck and Matt Damon Launch Production Company Designed to Increase Streaming Profits for Artists
“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,” Affleck said. “Not just writers and directors and stars. But also cinematographers, editors, costume designers and other crucial artists who, in my view, are very underpaid.”
The company has already raised over $100 million in financing, primarily from the investment firm RedBird Capital Partners. Affleck serves as CEO and Damon as the company’s chief creative officer. Affleck plans to exclusively work on Artists Equity films moving forward, while Damon has pledged to star in an undisclosed number of films for the company. Damon will also do all of his future producing through the label.
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I hope more Montana productions can be modeled after this. It’s important for more of those involved in movie productions to be able to benefit from their success beyond a salary.