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Will Lionsgate save at least $10 million in production costs by using Runway's AI technology by the end of 2024?
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Official financial statements from Lionsgate, industry reports, or reputable news sources
Story
Lionsgate Partners with AI Startup Runway to Revolutionize Hollywood Film Production, Saving Millions
Sep 18, 2024, 01:37 PM
Lions Gate Entertainment has announced a groundbreaking partnership with generative AI startup Runway to integrate AI technology into its film and TV production. The collaboration will focus on developing a new AI model tailored to Lionsgate’s extensive catalog, including franchises like 'John Wick,' 'The Hunger Games,' and 'Twilight.' The initiative aims to enhance cinematic video production and is expected to save the company millions of dollars. Initially, the AI tool will be used for internal purposes such as storyboarding, with plans to license the technology to other studios in the future. This move signifies the advance of generative AI in Hollywood, as reported by the press.
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