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Will Lionsgate achieve cost savings of over $10 million from using Runway's AI tool by December 31, 2025?
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Official financial reports from Lionsgate, news reports, or press releases
Story
Lionsgate, Studio Behind 'John Wick' and 'Hunger Games,' Signs AI Deal with Runway
Sep 18, 2024, 02:25 PM
Lions Gate Entertainment, the studio behind popular franchises such as 'John Wick,' 'The Hunger Games,' and 'Twilight,' has signed a deal with AI startup Runway to incorporate generative AI into its film and TV production processes. The collaboration aims to develop a new AI model tailored to Lionsgate's extensive catalog of over 20,000 titles. This first-of-its-kind initiative is expected to enhance cinematic video production, reduce costs, and improve efficiency, potentially saving 'millions and millions of dollars.' Lionsgate plans to initially use the AI tool for internal purposes like storyboarding and special effects, with potential future licensing to other studios. The AI model will augment, enhance, and supplement current operations.
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