NETFLIX may be making a major move in the future of filmmaking.
According to a new report, the streamer could pay up to $600 million for InterPositive, the AI film tech company founded by Ben Affleck, if the start-up hits certain performance goals.
Netflix previously announced its acquisition of InterPositive on March 5, though financial terms were not disclosed at the time.
Bloomberg now reports that while the upfront payment was lower, the total value of the deal could climb significantly based on milestones.
InterPositive, founded by Affleck in 2022, has operated mostly under the radar.
The Los Angeles-based company developed AI tools designed to assist filmmakers during postproduction.
According to Affleck, the technology can build a model from a production’s dailies and help with tasks like color work, relighting shots, visual effects and other finishing touches.
As part of the acquisition, InterPositive’s 16-person team of engineers, researchers and creatives will join Netflix. Affleck is also set to serve as a senior adviser, helping guide the company’s work in the AI filmmaking space.
Netflix says it plans to make the technology available to its creative partners, though it does not currently intend to sell the tools commercially.
Netflix chief content officer Bela Bajaria praised the platform for giving creators “more choices, more control and more protection for their vision.”
Affleck also shared his enthusiasm about the next chapter, saying he was excited for the work to continue at Netflix and for the broader creative community to gain access to what the team has been building.
Netflix declined to comment on the reported $600 million figure.