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