Lower upfront fees, potentially big payouts in success. Damon said they intended to give those people a cut of the profit.
To give an incentive to high-caliber actors and off-camera artisans to work for them, Mr.
The two hope to capitalize on a shift in the film and television business: Streaming services like Netflix are beginning to care more about the quality of content than sheer volume. Damon has committed to star in a set number of films (he wouldn’t say how many) and will produce exclusively for the company.
“This is the next act of my career for a long, long time,” Mr. Affleck, whose hits as a filmmaker include “Argo” and “The Town,” has agreed to work exclusively for Artists Equity. Damon have also committed an unknown amount of capital, and Mr. Instead of continuing to work for hire, they plan to start an independent production company, called Artists Equity, and have obtained a minimum of $100 million in financing from the investment firm RedBird Capital Partners. At the end of last year, it announced it was planning to merge with James Wan's production company Atomic Monster, a deal that's expected to close sometime this summer.Hollywood’s most powerful stars, directors and writers have been increasingly vocal about their dissatisfaction with streaming-era paychecks, namely the refusal of entertainment companies to share the money generated from breakout hits, as was more common in decades past.īen Affleck and Matt Damon announced on Sunday that they had decided to take action. Sechler, meanwhile, headed finance, operations, and strategy for PlayStation's publisher and developer relations function prior to moving to Blumhouse.īlumhouse Productions is also known for other horror movies like The Purge, Happy Death Day, Halloween, Us, The Invisible Man, Freaky, and The Black Phone. Wood has shipped more than 30 games over his 25-year-plus career, including Sound Shapes, Hohokum, The Unfinished Swan, and Bound at Santa Monica Studio/PlayStation Prey: Mooncrash and Redfall at Arkane/Bethesda and most recently, a stint with Iron Galaxy. There’s a unique opportunity for horror and genre in the indie game space, and I’m thrilled about teaming up with Blumhouse to meaningfully leverage the company’s brand, reputation, and creative talent,” added Wood. “Through my time in the industry, I’ve had the good fortune of working closely with developers to bring their ideas to life. “With their experience, sensibility and knowledge of the gaming marketplace Zach and Don are the ideal leaders to leverage Blumhouse’s unique genre strengths into gaming.” When we sat with Zach and Don they articulated an approach that resonated with Blumhouse’s model and we knew it was a perfect place for us to start our push into the interactive space.” said Abhijay Prakash, Blumhouse President, in a statement. Since our founding in 2007, we have produced a broad spectrum of film projects, including feature films,short films. Our specialty is film production for theatrical releases, with a particular focus on independent films. “For some time we have been looking to build out a team to start accessing the growth opportunity in interactive media. Kostic Films, LLC is a New York City-based film production company founded by independent filmmaker Aleksandar Kostic. Known for spinning lower-budget horror flicks into box office gold, Blumhouse will target indie-budget games below $10 million. While Blumhouse didn't announce any of its upcoming games at launch, it did reveal that its gaming strategy will mirror much of its film one. Industry veterans Zach Wood and Don Sechler will be president and CFO, respectively. It's launched a new subsidary, Blumhouse Games, to produce and publish games, it announced today. Blumhouse, the film and TV production company that's best known for producing horror hits like M3GAN, Get Out, Insidious, and the Paranormal Activity series, is getting into video games.