History is in the making. Runway, an AI video startup, collaborated with Lionsgate, the maker of Hunger Games, to bring AI to film. Runway’s goal is to help the artistic community with state-of-the art tools to bring their stories to life, and now with this deal, perhaps even on the big crean as well.
Interestingly, the Oscar winning movie “Everything Everywhere all at Once” employed Runaway’s tools for special effects for its famous rock scene, which saved a lot of time, costs, and manual effort. Lionsgate Entertainment is a Hollywood heavyweight which has previously produced award-winning movies and shows like Twilight, John Wick, and Hunger Games. Under this deal, Lionsgate would be able to use Runway’s AI tools, exclusively, to create content.
Runaway was launched by NYU alumni in 2018. The founders – Cristóbal Valenzuela, Anastasis Germanidis, and Alejandro Matamala – were in the talks for a whopping $4 Billion valuationfor their startup earlier …