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Will Lionsgate and Runway license their AI model to another studio by end of 2024?
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Official announcements from Lionsgate or Runway, industry news sources
Story
Lionsgate Signs Deal with AI Startup Runway to Enhance Film Production, Save Millions
Sep 18, 2024, 02:10 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 integrate generative AI technology into its film and TV production processes. The collaboration aims to develop a new AI model tailored to Lionsgate’s extensive catalog, which includes 20,000 film and TV titles. This initiative is expected to enhance cinematic video production, reduce costs, and improve efficiency in areas such as storyboarding and special effects, potentially saving millions of dollars. Additionally, Lionsgate and Runway plan to license the AI model to other studios in the future, potentially generating significant revenue.
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