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Netflix spent $587M on Ben Affleck’s AI startup
A new filing shows Netflix paid $587 million in cash for InterPositive, Ben Affleck’s filmmaking startup announced in March.
Image: TechCrunch
Netflix has disclosed that it paid $587 million in cash for InterPositive, the filmmaking startup co-founded by Ben Affleck.
The acquisition was announced in March, but Netflix did not reveal the price at the time. In a new regulatory filing, the company confirmed the figure, which lines up closely with a later Bloomberg report that said the deal could be worth up to $600 million.
When Netflix announced the acquisition, Affleck said he wanted to “protect the power of human creativity.” According to Affleck, InterPositive’s AI tools are designed to help filmmakers improve footage in post-production, especially when dealing with “real-world production challenges such as missing shots, background replacements or incorrect lighting.”
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Netflix previously said the entire InterPositive team would join the company, while Affleck would come aboard as a senior advisor.
The purchase also fits into Netflix’s broader use of generative AI. In its latest earnings report, the company said that around 300 of its titles have already used generative AI.
Enterprise Editor
Marcus follows the money. He covers enterprise software, cloud architecture, and the tectonic shifts in Big Tech strategy. He translates dense earnings calls and complex M&A activity into actionable insights about where the industry is actually heading. If a tech giant makes a silent pivot, Marcus is usually the first to notice.
via TechCrunch
