Lions Gate and Runway Ink Deal for Generative AI Use, Stock Rises 2.0% Pre-Market

Sep 18, 2024, 12:37 PM

Lions Gate Entertainment has entered into a deal with the startup Runway to incorporate generative AI in the creation of its new movies and TV shows. This move is expected to save the company millions of dollars by using the AI tool for internal purposes such as storyboarding. The deal signifies a significant advancement of generative AI technology in Hollywood. Additionally, Lionsgate and Runway plan to license their AI model to other studios. Lionsgate, known for movies like 'John Wick,' saw its stock price rise by 2.0% pre-market following the announcement.