Netflix NFLX I've started using the startup generation AI video tool Runway AI Bloomberg is to accelerate production and reduce the visual benefits of the original content.
According to Bloomberg, the New York-based startup raised $545 million in funding, and has recently been worth more than $3 billion.
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Runway's AI video technology will bring Netflix, Lionsgate, AMC, and Disney back on track
Netflix CO-CEO Ted Sarands AI has now confirmed that it is integrated into content production workflows, and has helped to generate special effects more efficiently than traditional methods. In a revenue call on July 17th, Sarandos cited the speed and cost benefits of creating visual effects, including scenes from the new Argentinean drama “El Eternaut” on the platform.
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While Runway's tools were not used in the “El Eternaut” scene, Bloomberg says sources close to the issue have confirmed that Netflix is actively experimenting with startup software for ongoing projects.
Bloomberg said the growing interest in Runway's generated video technology is not limited to Netflix. Lions Gate Lion We have signed an agreement with the company to train AI models using our own library of content for future film applications.
Bloomberg reports that Disney dis According to a statement from Disney Spokesple, it has tested Runway's AI tools and held exploratory consultations with startups, but has not committed to full-scale adoption.
AMC Network AMCX Also, according to Runway AI, they are working with Runway AI to visualize upcoming shows and create marketing assets before filming begins.
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“As we explore the possibilities of AI transformation across our business, we see a strong opportunity to enhance both how we sell and how we create.” Stephanie MicchikoIn a statement, AMC Networks executive vice president of global media operations and technology said.
AI VFX tools such as Runway's Gen-4 and Act-Two are rebuilding studio workflows
Runway's latest release, the AI motion capture model named Act-Two, works with the Gen-4 system to map human movements to animated characters with unprecedented accuracy and affordable prices. According to Bloomberg, traditional motion capture workflows can be expensive and time-based, but Runway's tools can have myopia results.
According to Bloomberg, it first gained traction in 2023 after launching a model that could convert text prompts to short video clips, and then launching a model that could turn text prompts into short video clips.
Runway's generation video tool has already been deployed in multiple entertainment formats. According to Bloomberg, the software was used to generate scenes for Amazon amzn Hit the series “House of David” and create a visual Madonnaconcert tours and Puma commercials.
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Lionsgate has also confirmed it has signed a contract with the runway, trained its own AI models with the studio's intellectual property, reducing production costs and accelerated content development, Bloomberg reports. “The goal is to create quality content at a lower price,” Lionsgate Vice President Michael Burns said at Runway's AI Film Festival in Santa Monica, California in June.
Generating AI startups face competition, but runways lead the adoption curve in Hollywood
The runway competes with giants like that Openai Google is in the generated video space, but has more traction than most AI startups in the Hollywood production pipeline. According to Bloomberg, Openai's SORA products have yet to secure a formal partnership despite months of talks with major studios, including Disney.
Runway's early traction highlights how AI is increasingly reshaping its production strategy across the entertainment industry.
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