The two Hollywood titans, who have three Oscars between them and have starred in, written, and directed countless hit films over the years, announced on Sunday that they were launching Artists’ Equity… which speaks exactly to their goal here.
Ben Affleck and Matt Damon announced on Sunday that they plan to start an independent production company, called Artists’ Equity. Unlike streaming services and most studios, they plan to share profits with their actors and off-camera artisans. https://t.co/es1JehoiYL
— The New York Times (@nytimes) November 20, 2022
Back in the day, pre-streaming was the way to go in show business. Actors, directors, and others associated with a film would be contractually entitled to money based on how well something did at the box office. If a film does well over time, it could mean more money than a one-time payment, no matter how large it appears at first.
Artists’ Equity also aims to do what big studios can’t: get out of the way and give creatives actual ownership/control of their vision without the politics that can stymie production, sometimes for the worse. Ben and Matt are practising laissez-faire at AE.