Hollywood's most powerful stars, directors and writers have become more vocal about their unhappiness with their paychecks due to the refusal of entertainment companies to share the money generated from hit movies.
The two men announced on Sunday that they were taking action. They plan to start an independent production company called Artists Equity, which will have at least $100 million in financing from RedBird Capital Partners. Mr. Affleck has agreed to work exclusively for Artists Equity.
This is the next step in my career. He will be starring in a number of films for the company, but wouldn't say how many.
The shift in the film and television business is one of the reasons why the two are trying to take advantage of it. They intended to give the people who worked for them a cut of the profits. There could be big payouts in success.
"As streamers have grown, they have really ended back-end participation, and so this is partly an effort to try to regain some of that value and share it in a way that's more equitable," Mr. Writers and directors aren't the only ones. In my opinion, cinematographers, editors, costume designers and other important artists are not paid enough.
The two men will be the chief executive and chief creative officer of the company. The films that Mr. Affleck and Mr. Damon have worked on have made over $10 billion at the box office. Between them, they have three Oscars.
He knows what kind of freedom artists want and how they can be given.
Studios are notorious for second-guessing in the development of film ideas, which results in a slow process that most creators don't like. Artists Equity would allow film and television creators to "take ownership of their creative power, providing a platform for both established and emerging filmmakers to streamline the development of their content."
RedBird was founded by a man who used to work at Goldman Sachs. He was involved in the creation of the YES regional sports network which broadcasted New York Yankees games. He said RedBird's investment in Artists Equity was a nine-figure commitment and could scale over time.
Mr. Cardinale said that you can't put your toe in the water. You have to make a commitment.
A spokeswoman says RedBird's portfolio is worth around $7.5 billion. Skydance is a fast-growing media company founded by theOracle heir David Ellison and SpringHill is an entertainment, fashion and marketing company owned by LeBron James.
The original United Artists, founded in 1919, was a way to exert greater control over their creative and financial destinies. United Artists is now owned by Amazon.
The horror film producer has used a business model in which established directors and stars work for union scale pay upfront in return for creative freedom and a stake in the financial success of the resulting film The result will be both commercial and artistically interesting according to a guest essay written by Mr. Blum in The New York Times.
Three projects are expected to be released next year, with a goal of five per year, according to Mr.
The first film, which does not have a title, was produced by a group of companies. The man who convinced Michael Jordan to team with Nike in the 1980s is the focus of the film. The film was directed by Mr. Affleck from a script he wrote with Mr. The salesman is named Sonny Vaccaro. The co- founder of Nike is played by Mr.
Pearl Street was paid by Warner Bros. to get first dibs on projects they wanted to make. The details of their new venture were reported by Deadline. Jeff Robinov was in talks to join Artists Equity but will not. Michael Joe was a managing director of Seer Capital and an executive at Universal Pictures.
Even though stars have a poor track record in studios, they don't try to build them from scratch.
Tom Cruise and Paula Wagner were hired to revive United Artists, which was owned by Metro-Goldwyn- Mayer. Lions for Lambs bombed at the box office despite Mr. Cruise helping raise $500 million in financing. The production and distribution of the second film, "Valhalla", were not good. By 2009, the experiment was over.
Kevin Spacey was named chairman of the company. He quit two months later because he didn't have time.
LivePlanet was founded in 2000 by Mr. At its peak, it employed more than 60 people. The idea of integrating the internet into mainstream entertainment programming ran into real world setbacks. At the end of the year, LivePlanet closed.
He pointed to the LivePlanet experience as an indication of his long-held entrepreneurialism.
He said that he had people pull him aside and tell him that it would be a lot of work. I have to admit, there was part of me that was like, 'come on, these studio guys sit behind desks and make phone calls.' The people who make the movie are the artists.
Mr. Affleck has been researching how much work he will be doing. He said he dealt with hard-grinding agents.
He said, laughing, that he had already been "humble". I wish I could have tried this earlier. I think I'm ready to do it. At that time in your life, you have enough experience and confidence to be confident.
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