Ben Affleck has been in Hollywood long enough to know the harsh realities of the industry: it’s quick to elevate stars, and even faster to get rid of them. That’s part of the reason he and his friend Matt Damon launched Artists Equity in 2022. This production company offers creators the chance to invest in their own projects, giving them more control over the content and a bigger share of the profits.
Affleck, along with Damon and billionaire investor Jerry Cardinale, aims to change the Hollywood landscape. “Actors and creatives are like investors here; “Their contribution is treated with the same importance as financial support,” Affleck shared in a recent interview with Deadline. This new model contrasts sharply with the traditional structure, where stars often received big salaries but had little role in the creative process.
Affleck talks about old Hollywood shows
Affleck didn’t hold back when criticizing the industry’s financial practices, saying: “The way deals have evolved, creatives have been conditioned to believe that their involvement in projects isn’t real.” He highlighted the “net-sharing” game in Hollywood, where hidden costs and fees eat into the profits that should be shared with creators.
He said this outdated approach is no longer relevant to today’s industry landscape, where creatives invest their time, energy and artistry. “These directors deserve to be treated as partners, not just employees,” Affleck stressed.
Insecurity in the showbiz industry: ‘One mistake away from cancellation’
The Good Will Hunting actor, who has shifted his focus to directing and producing in recent years, admitted that job security in Hollywood is a myth. “Whether you’re an actor, writer, or director, the phone could stop ringing at any moment,” he explained. “We’re all just one wrong note away from being cancelled, or one box office failure away from being ignored.”
Affleck pointed to his experience with the 2003 film Gigli, which co-starred Jennifer Lopez, as a cautionary tale. “I got paid a lot for it, but it doesn’t work for me in hindsight because the movie lost money,” he said. Despite a $75 million budget, the project grossed just over $7 million. “It’s about fairness. When people sacrifice for a project, they deserve a fair share of success or failure.
A fairer future for creators
In Artists Equity, Affleck and Damon are on a mission to set a new standard in Hollywood. “The answer is simple: justice,” Affleck said. “It’s about making deals that everyone can live with, whether the project is a success or a failure.”
By treating the creators as investors, Affleck hopes to align the interests of everyone involved in the film’s success. The goal is to create a sustainable model where creatives can thrive, rather than being left out in the cold.