AceShowbiz - Ben Affleck and Matt Damon's production company, Artists Equity, has secured a multi-year streaming first-look deal with Netflix, marking a significant expansion of their partnership with the streaming giant.

Artists Equity, co-founded by RedBird Capital's Gerry Cardinale alongside Affleck and Damon, has recently collaborated with Netflix on the crime thriller The Rip. The film, starring both Affleck and Damon, achieved notable success by holding the No. 1 spot on Netflix's Top 10 movies chart for three consecutive weeks, according to the streaming service.

In addition to The Rip, Netflix is slated to distribute Affleck's upcoming directorial project, Animals, which features an ensemble cast including Ben Affleck, Kerry Washington, and Gillian Anderson. The release of Animals is scheduled for later this year, further cementing the ongoing collaboration between Artists Equity and Netflix.

This streaming agreement follows a separate three-year theatrical distribution and production deal that Artists Equity signed with Sony. Under that arrangement, Sony handles global theatrical distribution, financing, and ancillary rights for Artists Equity's theatrical films, with options for co-financing select projects. Notably, Sony does not operate a streaming platform, distinguishing the scope of each partnership.

Decisions regarding which projects will be directed to Netflix under the streaming deal or to Sony for theatrical release will be determined on a case-by-case basis through discussions between Artists Equity and its studio partners.

In a joint statement, Ben Affleck and Matt Damon described the Netflix deal as an important milestone that validates their vision since founding Artists Equity in 2022. They emphasized the growing demand for an independent content supplier that manages the creative process comprehensively, from development through to final cut. They praised Netflix's film chairman Dan Lin and his team for their strong connection with contemporary audiences and their ability to create shared cultural moments.

Dan Lin added, "We're expanding our partnership with Artists Equity because they share our mission – to make bold, original films. Ben and Matt don't wait for opportunities, they create them: from making and starring in ambitious, original films to building an innovative studio model."

This collaboration highlights a strategic approach by Artists Equity to diversify their distribution channels, leveraging Netflix's global streaming reach alongside Sony's theatrical expertise.