Los Angeles, March 4 Hollywood stars Ben Affleck and Matt Damon's banner, Artists Equity, has signed a multi-year streaming first-look deal, along with a production and distribution agreement, with Netflix.
Artists Equity, which was also founded by RedBird Capital's Gerry Cardinale, recently partnered with Netflix on the crime thriller "The Rip," starring both Affleck and Damon. According to The Hollywood Reporter, the film spent three weeks as the No. 1 movie on Netflix's Top 10 chart.
Netflix is also set to release Affleck's next directorial feature, "Animals," which features the Oscar winner alongside Kerry Washington and Gillian Anderson. The film is scheduled for release later this year.
"This is an incredible milestone for Artists Equity and one that validates the vision we've been working towards since 2022. From the beginning, we've seen the growing need for an independent supplier who can handle the entire creative process, from development to the final cut. Netflix is a great fit for our work," said Affleck and Damon in a joint statement.
They praised Netflix film chairman Dan Lin and his team, saying they have a unique connection with "modern viewers and the ability to unite audiences over a shared cultural moment."
The news of the Netflix partnership comes after Artists Equity entered into a similar agreement with Sony, but for theatrical releases.
Under that three-year deal, Sony will distribute Artists Equity's theatrical films globally and will also finance the films and handle all ancillary aspects. Artists Equity will have the option to co-finance certain projects.
Regarding which projects will fall under the Netflix streaming deal or the Sony theatrical pact, that decision will be made on a project-by-project basis, based on Artists Equity's discussions with its studio partners.