Lionsgate Studios’ vice chairman, Michael Burns, mentioned that employing artificial intelligence in filmmaking could save the company “tens of millions of dollars each year.” He also noted that an AI company might soon be strong enough to acquire Lionsgate, which has been seen as an attractive target for acquisition.
During a recent panel at the Gabelli Sports & Media Symposium in New York, he compared the rapid advancements in AI to “Moore’s Law on cracks,” highlighting the swift pace of change. He expressed optimism about the opportunities for monetizing existing intellectual property, stating, “I think it’s exciting.”
Burns elaborated on how Lionsgate is currently using AI for tasks like budget creation, shot planning, and project previews, which contribute to substantial savings for the studio. He speculated that even actors, many of whom currently oppose AI, would eventually see the potential financial benefits.
He shared his belief that collaboration among all stakeholders could lead to mutual profits, emphasizing that industry safeguards would be established collectively. However, he also acknowledged the financial constraints facing the industry, suggesting that AI could be a vital solution for Hollywood’s struggles.
“Everyone has the same issue—wanting to demonstrate growth—but there are only two methods: organic growth, which is tough, or inorganic growth through deals,” he explained, adding that Lionsgate could be a significant strategic ally.
Burns pointed out that private equity firms could emerge as potential partners, alongside other media companies and foreign funds. He particularly stressed the importance of AI companies, which are amassing considerable wealth.
Since 2024, Lionsgate has collaborated with the AI firm Runway, currently valued at $5.3 billion. Burns humorously recalled his initial dealings with Runway’s CEO, Cristóbal Valenzuela, when he joked about one day acquiring the company. He remarked that Valenzuela might be reflecting on that joke now, considering their current circumstances.
