We all knew this was coming. For years, the general public has been trying to use generative AI to their creative advantage, while the business world has been scrambling to find a way to monetize it. At an investor’s meeting on Thursday, May 30th, the CEO of Sony Pictures Entertainment, Tony Vinciquerra, stated they plan to use AI as an “efficient” way to produce films for television and theaters. Let’s take a look at what this could mean for the filmmaking industry. The first question during a Q&A portion of the Sony investor call was about AI. You can view the entire presentation on Sony’s Investor Relations website, and the Q&A portion starts at 2:53:36 with CEO Tony Vinciquerra and CFO Philip Rowley. “Industry-wide box office overall has improved from the pandemic but still has not fully rebounded to pre-pandemic levels,” Vinciquerra says in his presentation. So clearly, Sony (as well as other studios) will be grasping at straws in an attempt to make cheaper movies and maximize profits. Total Theatrical Market in calendar years. Source: Sony Investor Presentation. While no concrete goals or strategies are laid out, it was made clear that AI will be used, going forward, in their approach to making movies. Vinciquerra ends the question by hammering the point, “We will be looking at ways to use AI to produce both films for theaters and television in a more efficient way using AI primarily.” While AI can do a great many things, it can not (as...
Published By: CineD - Monday, 3 June, 2024