Ben Affleck promotes innovative method for uniting actors and business community.
Ben Affleck, a prominent figure in the entertainment industry, is taking the term "show business" literally by putting it into action.
Affleck, Damon, and Cardinale, through their start-up Artists Equity, have been working to reform the payment and stake-taking system for those involved in productions for the past two years. Their model aims to increase accountability among actors for the success of their projects.
"According to Affleck, who spoke at CNBC's Delivering Alpha conference on Wednesday, it's not suitable for everyone. Instead, it's intended for individuals who are willing to take calculated risks on themselves. To succeed, one must fully commit to the process, but the potential rewards are significant if they are successful."
The company has scored some high-profile victories so far.
Nike won the endorsement of NBA legend Michael Jordan through a drama that showcased their appeal to his family. Other dramas, including sports and even a Dunkin' Donuts campaign featuring Affleck and Damon, have also been included.
Affleck spoke enthusiastically about the effort and its transformative nature for the business.
He stated that they would position you next to them and provide more freedom and control, allowing you to have a greater say in negotiations. This was not to control you, but to empower you to perform at your best. The goal was to incentivize you to promote, so that you would be motivated to do so.
Cardinale stated that the industry has finally reached a point where the saying "content is king" holds true, particularly because performers and studio heads can now benefit from a successful production together.
"Actors often prioritize their own interests, such as receiving payment, while agents also benefit. This creates a system of unaccountability. On the other hand, content has the potential to be influential, and individuals can also be considered intellectual property."
"The new talent at the table is what interests me the most," he said. "That genie is never going back in the box."
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