Television and films are so expensive that even AI can’t make a huge financial difference.
As artificial intelligence becomes more refined every day, its use cases are becoming countless. and Google’s new video generation tool VEOCreating content is easier and more accessible than ever.
But despite the effectiveness of new AI-powered video and content generation tools, film and television experts aren’t holding their breath. Technology completely overturns the industry. AI is possible but Increases efficiency For television and film producers, creating content for this industry has become extremely expensive thanks to the streaming war.
“Currently, content is narrowed down and creating great content costs a lot of money. If you’re making traditional film and TV length content more productive, it’s expensive and more expensive.” Kevin Mayer,former Disney Executive, said Yahoo finance‘s “Opening Bid” Podcasts last week. “You can’t really depend on AI.”
The reason for the extremely dramatic increase in content costs Streaming War– The battle between Netflix, Amazon, apple TV, Disney, Warner Bros Discoveryand more – it’s going well Jennifer Turnerformer executive vice president of Tristar TV. sony photo tv.
While there, she managed the development and production of a new premium TV series for cable and streaming platforms. During her career, she worked on hit shows like Gray’s anatomy, hopeless housewife, lost, Friday night lighting, and a good doctor.
“The scope and size of acquisition (intellectual property), talent attachment, and production range and size have dramatically increased to the streamer’s goal of attracting customers,” Turner said. luck. “It was a growth strategy. Now it’s focused on profitability.”
Rob RosenbergFormer Executive Vice President and Legal Counsel ShowTime Network (Paramount subsidiary), when some streamers came online, they explained that they overpaid for the project to win in competitive bidding situations. This led to the occasion of paying ten times the amount that they could have paid to win the project.
“When you like a single episode of a series Lord of the Rings, Citadel, and Stranger Things You’ll need to start costs for many feature films and someone pumps up the brakes, call a timeout and reassess whether these costs can justify them (return on investment). For example, an episode of one episode Stranger Things The cost is $30 million, Wall Street Journal Reported in 2022.
However, streaming giants like Apple continue to pour money into content knowing they can still “lose” the fight. According to a recent report from informationApple has it Losing over 1 billion dollars a year By spending more than $5 billion on streaming since its launch in 2019.
How AI can help you make movies and television?
AI has already made that mark in the television and film industry and has received some indirectly. Oscar nomination this year. Emilia Perez and A brutal person Both used AI to change their voices, and Adrien Brody won an Academy Award for Best Actor despite completing the Hungarian accent. According to the BBC, the technology is also used to reverse Tom Hanks and Harrison Ford. Report.
AI can be used for visual and audio effects in television and films, but technology is still limited, Turner said.
“We’re a path from AI to completely replace feature films,” she said.
Meanwhile, the use of AI in film and television productions has recently been a controversial issue of over 11,000. Hollywood film and TV screenwriters are on strike 2023 for the use of technology in the industry.
Rosenberg emphasizes at this point that AI is just another tool used to develop content such as CGI.
“The industry relies on the promise of efficiency from AI streamlining workflows and automating labor-intensive tasks, but it has yet to generate proof of concepts that will cause everyone to jump in,” he said.