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Will Lionsgate announce savings of at least $10 million due to AI integration with Runway by December 31, 2025?
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Official financial reports from Lionsgate, press releases
Story
Lionsgate Signs First-of-its-Kind Deal with Runway to Integrate AI, Save Millions
Sep 18, 2024, 02:11 PM
Lions Gate Entertainment has signed a first-of-its-kind 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 library of over 20,000 titles, including popular franchises such as 'John Wick,' 'The Hunger Games,' and 'Twilight.' The initiative is expected to enhance efficiency, reduce costs, and potentially save millions and millions of dollars. Initially, the AI tools will be used for internal purposes like storyboarding and special effects, with plans to license the model to other studios in the future. Lionsgate views AI as a great tool for augmenting, enhancing, and supplementing its current operations.
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