Lions Gate CEO Jon Feltheimer provided details on a recent deal with a video-focused artificial intelligence research company. Track to train a new generative AI model on the Lionsgate content library.
“The entertainment industry is a creative business, but its future growth will require a combination of art and science,” Feltheimer told financial analysts in prepared remarks Thursday following a recent deal with Runway to allow the entertainment company to use the entertainment sector. AI technology as it produces future film and television projects.
“We believe that AI, leveraged with appropriate safeguards, can be a valuable tool for our talent. And we believe that in the long term, this will have a positive transformational impact on our business,” the Lionsgate chief added.
Feltheimer emphasized that Runway would create and train a model for use by Lionsgate and the filmmakers “we designate,” indicating discipline around the development and production of projects.
Its studio deal is Runway’s first partnership with a major Hollywood media giant, although industry executives are closely examining the technology’s potential, given the speed at which generative AI technology can Create images and videos based on text or image prompts. .
When first unveiling the Runway deal in September 2024, Lionsgate executives emphasized that AI technology would ultimately reduce costs, something all studios are interested in, but especially Lionsgate, which has been pitching for long as a cost-conscious studio, even more so than its largest. Hollywood Rivals.
Michael Burns, vice president of Lionsgate, echoed the optimism surrounding AI content development in an analyst call: “We think it’s really going to improve filmmaking and become an incredible tool for the community.”
Of course, AI tools have also become a flash point for Hollywood, unions are worried about the impact on employment, actors and musicians are worried about the misuse of their image, and studios are worried about the legal consequences.
Recently, California Governor Gavin Newsom signed a law which regulates AI performance replicas and a group of documentary producers published guidelines on how generative AI can and should be used in the genre.
The studios are more openly experiment with AI tools, even if legal uncertainty and union concerns remain.
Runway, for its part, presents itself as helping the creative community realize its vision.
