Ben Affleck and Matt Damon Strike Netflix Deal
Artists Equity, the production company founded by Ben Affleck and Matt Damon, has struck a first-look streaming deal with Netflix. The agreement gives Netflix priority access to the company's upcoming film and TV projects, which could shape streaming content in the years ahead. Meanwhile, Paramount will release 15 Warner Bros. movies in theaters as part of their recent merger.
This new multi-year deal with Netflix builds on a successful collaboration with the streamer on the action-thriller "The Rip," which garnered over 112 million views after its January 2026 release. The partnership will focus on films for direct-to-streaming release, with the upcoming thriller "Animals," directed by and starring Affleck, set to be the next project under this agreement. Artists Equity was launched in November 2022 by Affleck, Damon, and Gerry Cardinale of RedBird Capital Partners, with an initial financing of at least $100 million. The company was founded with the goal of creating a more "talent-friendly" environment by offering profit participation to a wider range of creatives, including below-the-line crew members. This model is a response to the shift in the industry where streaming services have largely ended traditional back-end profit sharing. This Netflix agreement for streaming content runs parallel to an existing three-year theatrical distribution deal Artists Equity has with Sony Pictures. Under that pact, Sony finances and globally distributes the company's films intended for the big screen, with Artists Equity having the option to co-finance. This dual-pronged strategy allows the company to produce content for both major release avenues. Before establishing Artists Equity, Affleck and Damon ran Pearl Street Films from 2012 to 2022. That company had a first-look deal with Warner Bros. and produced critically acclaimed films like "Manchester by the Sea," which earned six Academy Award nominations, and "The Last Duel." They dissolved Pearl Street Films to create the new, more equitable model of Artists Equity. The first film released under the Artists Equity banner, "Air," was both a critical and commercial success. The movie, which details the origin of Nike's Air Jordan line, was lauded by critics and grossed over $90 million worldwide. This initial success helped to validate the new company's approach to filmmaking and talent compensation. Artists Equity's upcoming slate is diverse, including the crime thriller "The Rip" and the drama "Animals" for Netflix. They are also developing "The Accountant 2" for Amazon MGM Studios and the musical drama "Kiss of the Spider Woman." This variety of projects demonstrates their strategy of working with multiple major distributors across both streaming and theatrical platforms.
