All posts tagged: 587M

Netflix paid 7M for Ben Affleck’s AI filmmaking startup

Netflix paid $587M for Ben Affleck’s AI filmmaking startup

Published by skeptic

In a new regulatory filing, Netflix revealed that it paid $587 million in cash for InterPositive, a startup co-founded by actor and director Ben Affleck. The streaming company announced the acquisition in March, with a statement from Affleck saying he wanted to “protect the power of human creativity.” According to Affleck, InterPublic’s AI tools help filmmakers improve their footage in post-production, particularly when it comes to making up for “real-world production challenges such as missing shots, background replacements or incorrect lighting.” At the time, Netflix announced that the entire InterPositive team would be joining the company, with Affleck joining as a senior advisor, but it didn’t disclose the financial terms of the deal. A subsequent report in Bloomberg suggested that the deal could be worth up to $600 million. In its most recent earnings report, Netflix said that around 300 of its titles have already used generative AI. Source link

Netflix Bought Ben Affleck’s AI Company for 7M Filing Reveals

Netflix Bought Ben Affleck’s AI Company for $587M Filing Reveals

Published by Daniella Wilson

When Netflix acquired Ben Affleck’s mysterious AI company InterPositive earlier this year, it took the industry by storm. What was the company? What tools did it create for filmmakers? How would Netflix use them, and use Affleck, who committed to work as a senior advisor to the company in the deal? And then there was the question of price. How much was the company worth to the streaming giant? Thanks to a new securities filing, we know the answer to that final question. Netflix disclosed in an SEC filing Friday that it paid $587 million for InterPositive, in cash. The disclosure was made in the company’s form 10-Q, writing that “in March 2026, the Company completed an acquisition which was accounted for as a business combination for a total purchase price of approximately $587 million, consisting of cash consideration.” While the filing does not name InterPositive, Netflix announced the deal on March 5. The sale price was also filed in the company’s Q1 10-Q, which was filed in May. InterPositive was formed in 2022 as …