Affleck and Gerry Cardinale, co-founder of Artists Equity, also discussed the use of generative AI in the film industry. While Cardinale sees it as a tool to rejuvenate intellectual property and reduce costs, Affleck was more cautious, stating that AI will not replace human creativity but will disintermediate laborious and costly aspects of filmmaking. He suggested that AI could potentially generate additional revenue by creating personalized content for consumers, similar to the DVD business.
Key takeaways:
- Ben Affleck, co-founder and CEO of Artists Equity, discussed the challenges facing creatives in the film industry due to increased competition and the growing use of generative artificial intelligence.
- Gerry Cardinale, Affleck's partner at Artists Equity, revealed that the company has pre-sold over $700 million in revenues in seven projects and is cash flow positive.
- Affleck expressed hope that a rejuvenated Paramount, under the leadership of David Ellison, will bring positive changes to the industry. He praised Ellison and Cardinale for being owner-operators rather than part of the management class.
- Both Affleck and Cardinale addressed the use of generative AI in the film industry. While Cardinale sees it as a tool that will rejuvenate intellectual property, Affleck believes it will disintermediate the more laborious and costly aspects of filmmaking but will not replace human creativity.