Runway, a company focusing on AI video generation technology, recently announced the launch of the "100 Movie Fund", planning to invest US$5 million to support the production of up to 100 original movies. This huge investment is intended to help filmmakers explore the application of AI technology in film creation and break the limitations of traditional film financing models. The editors of Downcodes will take you to learn more about this exciting project and its impact on future film creation.
Recently, AI video generation technology has attracted much attention. In order to promote the development of this emerging field, Runway announced the establishment of a new film fund, planning to invest US$5 million to support the production of up to 100 original films. This is not a small sum of money, especially for directors who want to use AI to create, this is undoubtedly a rare opportunity.
Runway’s 100 Films Fund aims to fund projects that can apply their generative video model to the creative process.
According to Runway, traditional financial support often turns a blind eye to emerging creative perspectives, so they hope to help more creators through this fund. Specifically, Runway will provide $5 million in cash support, as well as up to $2 million in service credits for creators to use during the production process.
Interestingly, Runway said this cash support may increase to $10 million in the future , and they hope to be flexible in how the funds are used.
Although US$5 million will be divided among 100 movies, which may not sound like a lot of funds for each movie, Runway officials said that they will determine the allocation of funds based on the specific production needs of each project.
In addition to financial support, Runway also encourages influential directors to apply for five "Director Residency" slots. Although the specific requirements and benefits for this slot are not yet clear, it is undoubtedly a good opportunity.
It’s worth noting that Runway does not have any ownership or control over these projects, they only require grantees to submit regular production updates and allow Runway to showcase the final work.
In addition, they will invite some industry consultants to help select grantees, such as the famous Tribeca Film Festival co-founder Jane Rosenthal and musician will.i.am.
Although the fund was established to promote Runway's products, it does provide a breakthrough for creators who may not have access to traditional financial support.
However, some people in the industry pointed out that although the technology is powerful, it does not necessarily produce excellent filmmakers. Therefore, Runway’s strategy is to cast a wide net, hoping to find one or two breakthrough works that can truly utilize AI technology among these 100 movies.
If you are a professional director, producer, screenwriter or creative looking to tell new stories through AI-enhanced projects that require funding, you can apply for funding. Applications are currently open, with grants ranging from $500 to $1M+, with an additional $2M worth of Runway points available.
Application entrance: https://runwayml.com/hundred-film-fund/submit#guidelines
Highlight:
Runway has established a US$5 million "100 Film Fund" to support up to 100 original film projects.
? Provide financial support and service credit lines, and flexibly allocate resources to meet different project needs.
? Industry consultants will assist in selecting grantees. Runway does not own the ownership of the works and encourages creators to explore AI technology.
Runway’s “100 Movie Fund” has undoubtedly injected new vitality into the field of AI movie creation. Let’s wait and see what surprises these 100 movies will bring. This investment is not only a recognition of AI technology, but also a bold exploration of the future development of film art. Interested creators may wish to apply as soon as possible, maybe your next work will be born here!