Netflix Grants Ben Affleck and Matt Damon Unique Access for ‘The Rip’
Ben Affleck and Matt Damon are set to star in “The Rip,” which premieres on Netflix next Friday. The film features them as police officers confronting a dead captain amid internal corruption, creating an atmosphere of uncertainty and tension. This original project carries significant implications for their production company, Artists Equity, and the film industry as a whole.
Innovative Deal with Netflix
In a groundbreaking agreement, Affleck and Damon secured a unique compensation structure for “The Rip.” Unlike the traditional model where cast and crew receive an upfront fee, the 1,200 members involved in the nearly $100 million production will receive bonuses based on the film’s performance after its release.
Fairness in Film Production
Affleck emphasized the need for fairness in the industry. He stated, “We wanted to institute fairness and address some of the real issues that are present and urgent for our business.” This stance motivated them to establish Artists Equity in late 2022, with backing from RedBird Capital.
The Impact of the Warner Bros. Acquisition
“The Rip” arrives shortly after Netflix’s $83 billion acquisition of Warner Bros. assets. This deal raised questions about whether Netflix would continue its upfront payment model or explore new compensation methods. John Sloss, CEO of Cinetic, suggested that this film could reflect Netflix’s future compensation strategies.
A Shift in Payment Models
Bela Bajaria, Netflix’s chief content officer, highlighted that the company prefers its existing model of offering upfront payments. However, she acknowledged the potential for collaboration with innovative creators like Affleck and Damon. Their approach focuses on aligning financial incentives with creative output.
Performance-Based Bonuses
For “The Rip,” bonuses will be determined based on viewership metrics over the first 90 days on Netflix. Affleck noted that no cast or crew member received an upfront bonus; instead, rewards would depend on the film’s success compared to others on the platform.
- Bonuses assessed against film performance metrics
- Top viewership category compared to “KPop Demon Hunters,” Netflix’s most-watched film
Collaboration and Future Prospects
Affleck indicated that his and Sarandos’s conversations during the 2023 industry strikes laid the groundwork for this innovative deal. Emphasizing the need for a supportive work environment, Affleck believes that a performance-based compensation model encourages higher-quality films.
This vision aligns with broader industry discussions about sustainable filmmaking practices. Affleck’s intent is to create a system where the financial interests of producers and creators are synchronized, resulting in enhanced film quality.
Ultimately, “The Rip” represents a significant experiment in how films are financed and produced, showcasing a potential future for storytelling in the streaming era. With the industry’s dynamics rapidly changing, Affleck and Damon’s approach may serve as a model for other creators moving forward.
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