Hollywood studios are now being courted by Meta and Google in a bid to secure lucrative licensing deals. The companies are offering tens of millions of dollars to the studios with the aim of building relationships and enhancing their AI-generated video platforms.
What’s Happening & Why This Matters
Meta and Google initiated their talks with Hollywood studios to obtain deals that could impact video generation capabilities. According to a report by Bloomberg, the companies are actively pursuing Hollywood studios to advance AI-generated video technologies, prompting speculation about the potential outcomes and implications of these conversations.
For now, Hollywood’s response to these negotiations remains mixed. Both Netflix and Disney are showing hesitancy. Warner Brothers Discovery seems more approachable and consider of the stratagem. Also, the recently concluded actors and writers strike had clear provisos about AI in TV and film production. More discussions, details, and agreements are still needed to finalize any deals.
TF Summary: What’s Next
As AI firms attempt to forge media deals with production companies, Meta and Google’s overtures towards Hollywood studios are a reflection of the increasing importance AI-generated video technologies can pose. The mixed response from studios, however, indicates the complexity of associated issues for content creation. The outcries from vested partners is poised to influence any future AI-generated video offers in the entertainment industry.