In a groundbreaking move, a new Hollywood entertainment studio called Promise aims to revolutionize the industry by integrating generative artificial intelligence (Gen AI) into all of its projects. This innovative studio has received backing from major players in the business, namely The North Road Company and Andreessen Horowitz. Led by CEO George Strompolos, who was the CEO and founder of Fullscreen, and supported by Jamie Byrne, former head of creator partnerships for YouTube, and filmmaker Dave Clark, Promise is set to transform the way stories are told in the entertainment industry.
The investment round, led by Peter Chernin’s North Road and Andrew Chen from a16z, not only provides financial support for the studio but also grants access to the resources and expertise of influential figures in both Hollywood and Silicon Valley. This partnership is significant, as it combines the creative vision of Promise with the industry knowledge and technological prowess of its backers.
The launch of Promise comes at a time of disruption for the entertainment industry, with the potential impact of Gen AI causing concern among industry professionals. Last year, the Writers Guild of America and SAG-AFTRA strikes brought attention to the technology, with actors demanding compensation for AI-generated projects or roles, and the WGA seeking stricter regulations for its use. However, Promise aims to embrace this transformative moment and strives to work collaboratively with Gen AI artists, Hollywood talent, and rights-holders to develop a lineup of films and series that redefine their respective categories.
Strompolos emphasizes the importance of investing in a new class of Gen AI talent, individuals who possess a blend of traditional filmmaking skills and cutting-edge technical expertise. He believes that this fusion will set a new standard for high-quality storytelling enabled by AI. In a statement, he states, “We believe this is a transformational moment in entertainment and a studio must be built from the ground up — around the artists, the tech, and a new workflow — in order to unlock its full potential.”
Chernin shares Strompolos' enthusiasm, expressing excitement about the possibilities brought about by Generative AI. He emphasizes the importance of prioritizing artists and creatives and believes Promise has the most inventive and user-friendly model to integrate Gen AI into the creative process.
At the core of Promise’s projects lies their proprietary software called MUSE, which seamlessly integrates Gen AI tools into the production process. This software will play a pivotal role in unleashing the full potential of Promise’s creative endeavors.
The founders of Promise have also outlined their vision for the company in an open letter on their website. They emphasize the importance of creative individuals, including writers, actors, producers, directors, and visual effects artists, in bringing great stories to life. While technology forms the backbone of the studio, the creative community remains the heart and soul.
The involvement of The North Road Company, which has stakes in prominent production companies such as Kinetic Content and Left/Right, along with other notable investments like Questlove’s Two One Five Entertainment and Peyton Manning’s Omaha Productions, further strengthens Promise’s position in the industry. Meanwhile, a16z’s extensive investment portfolio, which includes companies like Airbnb, Slack, Instacart, Substack, and Roblox, adds valuable expertise to the alliance.
With Promise’s integration of Gen AI and its focus on the creative community, it is clear that the studio is poised to set a new precedent for storytelling in the entertainment industry. As the entertainment landscape continues to evolve, only time will tell the extent of Promise’s impact on the future of entertainment.
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