Ben Affleck and Matt Damon are expanding their Hollywood footprint as their production company, Artists Equity, has signed a major multi-year streaming deal with Netflix.
The agreement marks another big move for the company founded by Affleck, Damon, and RedBird Capital founder Gerry Cardinale — the same RedBird investor who holds a major stake in Paramount and played a key role in backing Paramount’s acquisition of Warner Bros. Discovery.
Artists Equity Signs Multi-Year Netflix Deal
Via THR, Artists Equity has entered into a first-look streaming agreement with Netflix that covers production and distribution of films for the platform.
The deal builds on an existing partnership between the companies. Artists Equity recently released the crime thriller The Rip on Netflix, starring Affleck and Damon, which spent three weeks as the No. 1 movie on the streamer’s Top 10 chart.
Netflix is also preparing to release Affleck’s upcoming directorial effort Animals, which stars Affleck alongside Kerry Washington and Gillian Anderson.
Affleck and Damon said the deal represents a major step for the company they launched in 2022.
“This is an incredible milestone for Artists Equity and one that validates the vision we’ve been working towards since 2022,” the pair said in a joint statement.
They added that Netflix is a strong partner because of its ability to reach modern audiences and turn films into shared cultural events.
How The Netflix Deal Works
The new partnership does not replace Artists Equity’s theatrical ambitions, which are at Sony.
The company previously signed a three-year theatrical distribution agreement with Sony Pictures. Under that arrangement, Sony distributes Artists Equity’s theatrical films worldwide and also finances the projects and manages ancillary rights.
Sony does not operate its own streaming service, which allows Artists Equity flexibility to partner with platforms like Netflix for streaming releases.
As a result, each project will be evaluated individually to determine whether it receives a theatrical rollout through Sony or goes directly to Netflix under the new Artists Equity-Netflix streaming deal.
Netflix film chairman Dan Lin praised the partnership.
“We’re expanding our partnership with Artists Equity because they share our mission — to make bold, original films,” Lin said. “Ben and Matt don’t wait for opportunities, they create them.”
RedBird Capital’s Role
Artists Equity was also co-founded by RedBird Capital’s Gerry Cardinale, tying the company to some of the biggest corporate moves in Hollywood.
RedBird holds one of the largest stakes in Paramount and helped back the financial structure behind Paramount’s acquisition of Warner Bros. Discovery.
That connection places Artists Equity at an interesting crossroads between major Hollywood studios and streaming platforms as the entertainment industry continues shifting toward hybrid theatrical and streaming distribution models.
