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Will Lionsgate announce at least $10 million in cost savings from AI integration by end of 2024?
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Official financial reports from Lionsgate, press releases, and major financial news outlets
Story
Lionsgate Signs Deal with AI Startup Runway to Integrate Generative AI, Save Millions
Sep 18, 2024, 03:14 PM
Lions Gate Entertainment, the studio behind popular franchises such as John Wick, The Hunger Games, and Twilight, has signed a significant deal with AI startup Runway. The partnership aims to integrate generative AI technology into Lionsgate's film and TV production processes. The collaboration will focus on developing a custom AI model trained on Lionsgate's extensive catalog of over 20,000 film and TV titles. This initiative is expected to enhance cinematic video production, streamline storyboarding, and special effects, and ultimately save the studio millions of dollars. Initially, the AI tool will be used for internal purposes like storyboarding, helping filmmakers augment their work. Additionally, Lionsgate and Runway plan to license their AI model to other entertainment companies in the future, promoting capital-efficient content creation.
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