Affleck and Damon's Artists Equity Launches Indie Label AEIP

Ben Affleck and Matt Damon's Artists Equity has launched Artists Equity Independent Pictures (AEIP), a new label that will make lower-budget films without requiring a 2000-screen theatrical commitment to get financing. Amy Baer, the company's president of film and television and No. 2 to the two founders, will oversee it, with former Topic Studios physical production exec Jennifer Westin running the label day to day and reporting to Baer.

AEIP's first project is "A Woman in the Sun," written and directed by "Nyad" and "Love of Your Life" screenwriter Julia Cox and starring Renée Zellweger, Sissy Spacek, and Mia Threapleton. Black Bear is already attached as distributor. The label has also announced Sam Jones' "Downriver," with Garrett Hedlund, Jake Lacy, and Jessica Biel.

Baer told IndieWire the new label makes her job of explaining Artists Equity easier. "I think people really underestimate the ambition of the company," she said. "This is not a talent production company on steroids."

How does the money work?

The label uses the same financial model behind Artists Equity titles like "Air," "The Rip," "Animals," and "The Instigators." Talent invests in the film and takes equity, accepting a smaller upfront fee in exchange for a share of the backend if the film succeeds.

Baer knows the model from the inside — she spent 14 years as an independent producer. "In a typical indie film, 50 percent of the points go to the filmmaking team, the other 50 percent go to the financiers," she said. "We just say to the creative team, 'Here's your points. Carve it up.' We're not going to tell you how to do it."

The practical payoff: an AEIP project can afford a higher-end editor, composer, or star who wouldn't normally work for a reduced fee.

What kind of films will AEIP make?

The label is genre agnostic, but it isn't chasing low-budget slasher horror or experimental work. Baer wants elevated, commercial indie films with breakout potential and a clear, identifiable audience.

AEIP will search for packaged projects rather than developing internally, then work with filmmakers to set an initial budget and identify emerging talent — first-time directors or fifth-timers alike. Baer says the worst thing the label could do is spend money just because it has it, so early spending will be judicious.

AEIP films also won't be bound by Artists Equity's output deals with Netflix (streaming) and Sony Pictures (theatrical), both of which require minimum budget levels the indies will typically fall beneath. Netflix or Sony can still buy an AEIP film if they want it.

The films will still qualify for performance bonuses tied to streaming viewership thresholds, as "The Rip" did. On that film, Artists Equity paid a percentage of salary to each of the 1,200 crew members. Baer wouldn't disclose the thresholds or amounts, calling the views "robust" and the bonuses "substantial."

What's the cautionary tale?

Budget discipline matters. "Kiss of the Spider Woman," a musical remake starring Jennifer Lopez that premiered at Sundance, grossed just $1.8 million against a $30 million budget. That film predated Baer, but she treats it as a teaching moment about reading what the market is telling you.

She also argues Damon and Affleck's indie roots — running around with Kevin Smith in the '90s trying to get any shot they could — inform the whole venture. What she believes separates Artists Equity from MRC, Fifth Season, or A24 is leadership by two A-listers who take their CEO and chief creative officer roles as seriously as acting, writing, or directing.

"There's plenty of really good independent film companies out there, but I don't think any of them have two Oscar winners sitting on top of it," Baer said.

Finding projects for Matt and Ben isn't part of her mandate — they need no help there. So don't expect Affleck or Damon to star in an AEIP film themselves, though they won't be far away. As Baer put it: "They want these things to stand on their own two feet." When the founders do choose to promote one of the label's films, that attention is something other indie companies simply can't buy.