Ben Affleck and Matt Damon are Launching a Film Production Company

Ben Affleck Matt Damon

Ben Affleck and Matt Damon at premiere of PROJECT GREENLIGHT, NY 11/27/2001 (Everett Collection /

Ben Affleck and Matt Damon are teaming up to start their own film production company.

Academy Award-winning actors Ben Affleck and Matt Damon have announced they are starting a production company.

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The New York Times reported that the idea for their new production company came from both stars' dissatisfaction with the current streaming era's paychecks. Many streaming companies have refused to share the profits generated from their hits in the past decade, so over the weekend, they announced they would be starting an independent production company to combat this issue. They obtained a minimum of $100 million in financing from RedBird Capital Partners. The two Hollywood big shots have agreed that their company is committed to ensuring project profits are shared amongst everyone working on it.

Affleck discusses the production company stating, "This is the next act of my career for a long, long time." Damon has already agreed to star in several films that the company will produce.The goal is to take advantage of the move in the industry towards better quality films and tv shows instead of a larger quantity. From actors to people working behind the scenes, they want everyone involved to get a portion of the project's profits. Affleck has been set to be the CEO, while Damon will serve as the CCO. With a combined total of over three decades in Hollywood, both have more than enough experience to find success.

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