Entertainment

Ben Affleck, Matt Damon Covenant, Artist Fairness Launch with Redbird

Ben Affleck and Matt Damon are reuniting as enterprise companions with Launch Artist Fairness, a manufacturing enterprise backed by Redbird Capital Companions dedicated to increasing revenue sharing and offering a ‘talent-friendly’ surroundings for creativity.

Media investor Jerry Cardinal’s Crimson Chicken is claimed to have dedicated at the least $100 million to finance the enterprise. Affleck will function CEO whereas Damon will function chief content material officer. Common Footage and STX Movies alum Michael Joe has signed on as chief working officer of the LA-based firm.

“Artist Fairness was conceived out of Matt’s and my long-standing ardour for the artwork of storytelling.
We’re lucky to take action throughout our shared want to assist creators understand their imaginative and prescient.
profession,” Affleck mentioned in an announcement. “Our objective with Artist Fairness is to construct a creator-focused studio that may optimize the manufacturing course of with a shared partnership in commerce.
Success of tasks. We’re thrilled to accomplice with Gerry Cardinale and the RedBird staff.
Lengthy observe document of constructing spectacular scale platform companies round distinctive IP. Matt and me
We wish to work collectively to empower present and future inventive minds
Leisure Business.”

Already in manufacturing is Artist Fairness’s first venture, a still-untitled drama written and directed by Affleck concerning the delivery of Nike’s well-liked Air Jordan sneaker model. Damon performs a Nike govt who lands an endorsement cope with Chicago Bulls celebrity Michael Jordan. Artist Fairness joins Amazon Studios, Skydance Sports activities and Mandalay Footage as producers of the movie.

Artists Fairness goals to launch three tasks in 2023 and at the least 5 tasks yearly thereafter, the companions mentioned. The initiative was first reported by The New York Occasions.

“Traditionally, the success of a movie was primarily based on its field workplace efficiency. Now, with the upswing
The enterprise behind streaming and filmmaking has basically modified. Nonetheless, Ben and I do know that
Regardless of which path the trade evolves, the facility will stay within the fingers of the creators.
mentioned Matt Damon, Chief Content material Officer of Artist Fairness. “Artist fairness allows these visionaries
Take possession of their inventive energy, offering a longtime and rising platform
Filmmakers streamline the event of their content material. Ben and I have been fortunate to work with him
Among the greatest within the enterprise and our partnership with Jerry Cardinale and the staff at Redbird
We proceed on that path as we glance to innovate and empower by means of artist fairness
platform.”

Showbiz has an extended historical past of artist-led firms pledging to construct a greater system than these present in Hollywood’s largest employers. Affleck and Damon’s pitch to creatives is that they’re going to discover a extra welcoming surroundings and extra beneficiant profit-sharing factors at a time when even high-profile creatives are involved concerning the basic restructuring of the content material enterprise and the way it’s affecting pay. Writers, administrators, actors and producers. The upcoming 2023 union contract talks between the Writers Guild of America, SAG-AFTRA and the Administrators Guild of America within the first half of 2023 will solely exacerbate the A-list agitation over compensation formulation within the streaming period.

Since being based by Cardinal in 2014, Redbird has supported a number of media and sports activities partnerships, together with David Ellison’s SkyDance Media, LeBron James’ Springhill Media and New York Yankees regional sports activities cabler YES Community. Fairness for artists is a giant change for Redbird in its pure-play content material enterprise. Cardinale mentioned he has recognized Affleck and Damon for 20 years.

“Ben and Matt are two of essentially the most proficient entrepreneurs within the leisure trade, and now us
Founders can add to their lengthy record of achievements,” mentioned Cardinale, founder and managing director.
Associate of Redbird Capital. “The funding thesis behind Artist Fairness is according to Redbird
Capital primarily based on scalable options with a observe document in supporting confirmed founders and entrepreneurs
Create revolutionary mental property monetization platforms. Artist Fairness is an independently capitalized studio that may allow content material creators to navigate this evolving panorama and maximize the worth of their visionary storytelling. In the present day, the premium is more and more shifting to a top quality that performs very effectively to Ben and Matt’s observe document as filmmakers throughout writing, directing, producing and performing. Below their curation, Artist Fairness will ship tasks that meet the rising demand for critically acclaimed content material, whereas enabling broader revenue sharing throughout the manufacturing worth chain.

Matt Donnelly contributed to this report.

(Pictured: Matt Damon and Ben Affleck)

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