Lionsgate is making waves in Hollywood with its new collaboration with AI startup Runway. The studio announced last September that it will leverage Runway’s technology to ”augment” filmmaking, marking the startup’s first deal in Tinseltown.
Vice chairman Michael Burns stated the goal is to create films that would typically require big budgets. He’s eyeing projects that could be produced for $50 million thanks to AI, instead of traditional costs around $100 million.
“We’re banging around the art of the possible. Let’s try some stuff, see what sticks,” Burns said.
With an extensive library, Lionsgate is poised to repackage existing content. They can adjust tone, format, and target audience. For instance, Burns highlighted the potential to take a major action franchise and “turn it into anime, make it PG-13. Three hours later, I’ll have the movie.”
Another example: Instead of filming a complex scene with thousands of soldiers for millions, AI could produce it for merely $10,000.
“He wasn’t sure the film would be made at all, but the math was working,” noted New York Magazine.
Burns mentioned that several filmmakers are already keen on incorporating AI in their production processes.
Runway, based in New York, has heavy-hitters like Google and Nvidia backing it. The company claims its innovations are shaping the future of art and entertainment.
