Matt Damon and Ben Affleck have launched a production company called Artists Equity that will offer profit participation to creatives working behind the scenes as well as on camera. The new venture has secured $100 million in financing from RedBird Capital Partners, and Affleck and Damon have also committed undisclosed sums. Affleck has committed to working exclusively for Artists Equity while Damon says he will star in a predetermined number of films. The move is in response to streamers’ reluctance to share earnings, and reported industrywide dissatisfaction with that new status quo. Continue reading Artists Equity Is Launched to Share the Wealth with Creatives

At CES in January, Fox Innovation Lab showed its first cut of “The Martian VR Experience.” Now, 11 months later, 20th Century Fox’s Lab has just released the finished product, directed by Robert Stromberg and executive produced by Ridley Scott, for use with HTC Vive and PlayStation VR. “The Martian VR Experience,” which is available to consumers for $19, takes viewers into the world of the 2015 Fox movie “The Martian,” directed by Scott, where astronaut Mark Watney (played by Matt Damon) was abandoned on Mars. Continue reading Fox Releases Immersive Project: ‘The Martian VR Experience’

Chinese online-video network PPTV paid about $24 million for the streaming rights to fantasy feature “Warcraft,” based on the popular videogame series by Blizzard Entertainment. The film has so far grossed more than $433 million worldwide and has been successful with Chinese audiences. It will begin streaming next month on PPTV as a result of the record high deal, in what could also mark a significant milestone in film distribution. “This could be one of the beginning steps in having China become a huge marketplace for streaming services,” said comScore senior media analyst Paul Dergarabedian. Continue reading Streaming ‘Warcraft’ in China Could Lead to New Marketplace

Chinese conglomerate Dalian Wanda Group paid $3.5 billion in cash to purchase Legendary Entertainment, one of Hollywood’s largest independent movie companies, making it the largest such deal between Hollywood and China. Dalian Wanda’s other Hollywood holdings include AMC Entertainment, the second largest cinema chain in the U.S. The company, which got its start in real estate, also owns theaters and produces movies in China. Legendary has co-financed numerous movies, produced its own and has TV and digital divisions. Continue reading Chinese Company Buys Legendary Entertainment for $3.5B

For box-office hit “The Martian,” 20th Century Fox and its Fox Innovation Lab developed a VR experience that will debut as a commercial release in the first half of 2016. The VR experience relies on Oculus headsets but will also be available with other devices. The experience is based on the lead character of the movie, putting viewers into the challenges faced by astronaut Mark Watney on Mars. Filmmaker Robert Stromberg said the “thrilling” experience aims to provoke a wide range of emotions including anxiety and success. Continue reading Fox Innovation Lab to Debut Virtual Reality with ‘The Martian”