Runway Funds 100 AI Films

AI video generators can revolutionize filmmaking by streamlining production processes and offering creative possibilities

Rise has set aside $5 million in cash and more in service credits to fund up to 100 original films. This is to get the new AI film environment off the ground. Now is your chance to get help if you’re an AI-interested director.

Runway’s Hundred Film Fund is meant to help any video project that uses the company’s generated video model get off the ground. “Traditional funding mechanisms often miss new and growing ideas within the larger ecosystem of the industry,” the business wrote in the blog post.

Runway is giving away $5 million as grants to filmmakers working on “features, shorts, documentaries, experimental projects, music videos,” or some other style that hasn’t been named yet. The winners would get up to $2 million in Runway points and prizes.

The post clarifies that the cash side “has the potential to grow to $10M.” Jamie Umpherson, Head of Creative at Runway, said they want to be “as flexible as possible in how we approach the scope of this fund.” I asked what this meant. One hundred movies are the first, but we hope to add more over time.

When asked how $5 million can be pretty and effectively split 100 ways when grants of up to $1 million are on the table, Umpherson dodged the question by saying, “Each project will be evaluated on its particular production needs when it comes to grant considerations.” (Read the fine print and fill out this form.) You could try to get one of the five “director residency” jobs if you have much power. It’s unclear what the benefits or criteria are, but it doesn’t hurt to try.

The good news is that Runway won’t claim ownership or control over the projects. Instead, it will only ask awardees to send production reports every two weeks, and Runway can show off the finished product however it wants. Friends of the event, like Jane Rosenthal, who helped start the Tribeca Film event, will. I will help choose the winners and maybe even give them extra help.

There is an air of “please use our product” about the Film Fund, but more standard production companies don’t always adopt new, experimental tools. A small amount of money can sometimes help someone who might not have been able to get funding otherwise come up with the one great way to use a tool.

A real worry is that the findings will not be fair. Michael Black, a film industry veteran, recently said this about AI tools in the film industry: “Giving someone a fast car doesn’t make them a Formula One driver, right?” That’s kind of like what we have now. There may be a chance for a new voice that they wouldn’t have had otherwise. There won’t be many people making perfect movies, though.

Since this is the case, throwing a wide net and giving money to as many as possible might be best. Hopefully, at least one or two of the 100 films will show that AI-generated video is helpful and even groundbreaking. To put it more sarcastically, it’s like “spray and pray.”

Without question, some filmmakers will take the shot to make a few bucks and devise a way to escape Runway with a dream sequence. But it’s likely a win for the startup if a dozen creators take the money and use the tech properly.