A generative AI company is set to offer grants to indie filmmakers to encourage the usage of AI to create films.
Led by CEO Cristóbal Valenzuela, the startup, known as Runway, will provide the filmmakers with grants ranging from $5,000 to $1 million to create up to 100 short films and feature films.
In order to receive the grants for The Hundred Film Fund, the filmmakers will need to use the funds to create “AI-powered films,” using Runway extensively in the process. The AI startup will reportedly not have access to the rights and will not distribute themselves, although they will help provide connections through the advisory panel.
The advisory panel will also include the co-founder of Tribeca Festival Jane Rosenthal, musician Will.i.am, Television Academy exec Lee Storm, NVIDIA exec Richard Kerris, and Company 3 owner Stefan Sonnenfeld to help evaluate which pitches deserve the funds.
The announcement of the new grants come after Runway announced their deal with film company Lionsgate, marking the first deal of its kind. Through the deal, Lionsgate will reportedly have filmmakers use Runway to generate movies, saving “millions and millions of dollars” for the studios.
“We’re a software company. Our business is to sell tools. Our success will be rooted in our ability to help storytellers make these films,” said Valenzuela per Variety. “We believe that the best stories are yet to be told, and that traditional funding mechanisms often overlook these new visions.”
The incorporation of AI into filmmakers has drawn stark cricisisms, generating controversy on its ethical use and its mix into what is considered an art form.
From July 14 to Nov. 9 last year, members of SAG-AFTRA famously took to the streets to protest a number of disagreements, including fighting against the usage of AI to replace actors on set. Upon the machine-learning technologies usage in film restoration, many critics also argued that there were issues in skin texture, glossy surfaces and shading.
The general public has also expressed their disapproval, advocating for the boycott of “Late Night With the Devil” after it was discovered that they had used AI art in the film.
Still, some have shown their support for the usage of AI in film. Director James Cameron most recently showed his approval by joining the Board of Stability AI, the startup that created the Stable Diffusion text-to-image generative AI model.
“I’ve spent my career seeking out emerging technologies that push the very boundaries of what’s possible, all in the service of telling incredible stories,” said Cameron in a statement. “I was at the forefront of CGI over three decades ago, and I’ve stayed on the cutting edge since. Now, the intersection of generative AI and CGI image creation is the next wave.”
