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

In a caller regulatory filing, Netflix revealed that it paid $587 cardinal successful cash for InterPositive, a startup co-founded by histrion and manager Ben Affleck.

The streaming institution announced the acquisition successful March, with a connection from Affleck saying helium wanted to “protect the powerfulness of quality creativity.” According to Affleck, InterPublic’s AI tools assistance filmmakers amended their footage successful post-production, peculiarly erstwhile it comes to making up for “real-world accumulation challenges specified arsenic missing shots, inheritance replacements oregon incorrect lighting.”

At the time, Netflix announced that the full InterPositive squad would beryllium joining the company, with Affleck joining arsenic a elder advisor, but it didn’t disclose the fiscal presumption of the deal. A consequent study successful Bloomberg suggested that the woody could beryllium worth up to $600 million.

In its astir caller net report, Netflix said that around 300 of its titles person already utilized generative AI.