Runway Partners with Lionsgate in First-of-its-Kind AI Collaboration
SANTA MONICA, Calif. & NEW YORK--(BUSINESS WIRE)--Sep 18, 2024--
Global content leader Lionsgate (NYSE: LGF.A, LGF.B) and leading applied AI research company Runway today announced a first-of-its-kind partnership centered around Runway’s creation and training of a new AI model, customized to Lionsgate’s proprietary portfolio of film and television content. Exclusively designed to help Lionsgate Studios, its filmmakers, directors and other creative talent augment their work, the model generates cinematic video that can be further iterated using Runway’s suite of controllable tools. The partnership is the first collaboration between Runway and a Hollywood studio.
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“Runway is a visionary, best-in-class partner who will help us utilize AI to develop cutting-edge, capital-efficient content creation opportunities,” said Lionsgate Vice Chair Michael Burns. “Several of our filmmakers are already excited about its potential applications to their pre-production and post-production process. We view AI as a great tool for augmenting, enhancing and supplementing our current operations.”
“We’re committed to giving artists, creators and studios the best and most powerful tools to augment their workflows and enable new ways of bringing their stories to life. The history of art is the history of technology and these new models are part of our continuous efforts to build transformative mediums for artistic and creative expression. The best stories are yet to be told,” said Runway co-founder and CEO Cristóbal Valenzuela. “Lionsgate has an incredible creative team and a clear vision for how AI can help their work – we’re excited to help bring their ideas to life.”
About Lionsgate Studios
Lionsgate Studios (Nasdaq: LION) is one of the world's leading standalone, pure play, publicly-traded content companies. It brings together diversified motion picture and television production and distribution businesses, a world-class portfolio of valuable brands and franchises, a talent management and production powerhouse and a more than 20,000-title film and television library, all driven by Lionsgate's bold and entrepreneurial culture.
About Lionsgate
Lionsgate (NYSE: LGF.A, LGF.B) owns approximately 87% of the outstanding shares of Lionsgate Studios Corp. (Nasdaq: LION), one of the world’s leading standalone, pure play, publicly-traded content companies, as well as the premium subscription platform STARZ.
About Runway
Runway is an applied AI research company shaping the next era of art, entertainment and human creativity. The company conducts research in multi-modal AI systems, builds infrastructure to safely deploy models, and invents products and applications that leverage new techniques for multimedia content. To learn more visit runwayml.com/research and www.runwayml.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20240918322724/en/
CONTACT: For media inquiries:
Peter D. Wilkes
Lionsgate
310-255-3726
pwilkes@lionsgate.comCole Garry
Runway
runway@sbscomms.com
KEYWORD: CALIFORNIA NEW YORK UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: ENTERTAINMENT TECHNOLOGY FILM & MOTION PICTURES TV AND RADIO AUDIO/VIDEO SOFTWARE ARTIFICIAL INTELLIGENCE
SOURCE: Runway
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