Ben Affleck and Matt Damon Secure Netflix Bonuses for The Rip Crew
The upcoming Netflix film The Rip, produced by Ben Affleck and Matt Damon, has set a new precedent in crew compensation. Their production company, Artists Equity, negotiated a groundbreaking deal with Netflix to offer bonuses to the entire crew, contingent on the film’s success.
Innovative Compensation Structure
This arrangement departs from Netflix’s traditional payment model. Generally, Netflix compensates cast and crew with upfront fees. However, Affleck and Damon aimed for a fairer approach that addresses industry issues regarding compensation. Affleck emphasized the deal’s philosophical importance, stating, “We wanted to institute fairness and address some of the real issues that are present and urgent for our business.”
Details of The Rip Production
The Rip narrates the story of two Miami police officers who stumble upon hidden money. With a budget nearing $100 million, the production involves approximately 1,200 crew members. Under the new agreement, all crew members will be eligible for a bonus based on performance metrics evaluated over the film’s first 90 days on Netflix.
- Title: The Rip
- Budget: Nearly $100 million
- Crew Size: 1,200 members
- Performance Evaluation: First 90 days after release
Affleck mentioned that everyone involved in the project would receive bonuses if the film meets defined success criteria. However, specifics regarding these metrics remain undisclosed.
Support from Netflix
Affleck acknowledged Netflix co-CEO Ted Sarandos for his support of Artists Equity’s innovative approach to crew compensation. He remarked, “I thought this is clearly somebody who cares about this business and understands the value of filmmakers and performers.”
Funding and Strategic Partnerships
Artists Equity is financially backed by Gerry Cardinale and RedBird Capital Partners, which have invested over $100 million in the venture. However, RedBird is simultaneously involved in a competitive battle with Netflix over the acquisition of Warner Bros. Discovery.
Netflix aims to acquire Warner Bros. for $82.7 billion after a prior attempt by Paramount was rebuffed. RedBird’s role as a strategic partner with Paramount continues while focusing on the creative endeavors of Artists Equity. This strategic maneuvering highlights the complexities of business relationships in the entertainment industry.
The novel compensation structure for The Rip reflects a broader shift toward equitable treatment of film crews, promising a more sustainable future in the industry.
