In a regulatory filing, Netflix said it paid US$587 million in cash for InterPositive, an AI filmmaking startup co-founded by actor and director Ben Affleck, after announcing the acquisition in March.

When Netflix announced the deal, it did not disclose the price. It also said InterPositive’s 16-person team would join the company, and that Affleck would become a senior adviser.

InterPositive was founded in 2022 and operated in stealth before the sale. It built tools that use production dailies to help filmmakers relight shots, add visual effects, and handle other post-production work.

Public reports did not identify outside funding. They also said the deal could be worth up to US$600 million if performance targets were met.

Netflix also told shareholders that teams now use generative AI throughout production, from concept development and previsualization to post-production and release, with roughly 300 titles using it this year.

🔗 Source: TechCrunch