Promise Launches Generative AI Film Production

(Reuters) – Promise, backed by former News Corp President Peter Chernin and Andreessen Horowitz, announced its launch on Tuesday, marking a successful fundraising round.

Hollywood studios are increasingly exploring generative AI tools to lower costs and accelerate content creation.

Founded by Fullscreen CEO George Strompolos, former YouTube executive Jamie Byrne, and AI artist Dave Clark, Promise aims to leverage the GenAI boom. The company is collaborating with industry stakeholders to develop a multi-year lineup of new content.

Promise is also working on a production software called Muse, integrating generative AI into the filmmaking process.

Earlier this year, OpenAI launched Sora, a tool creating high-quality video from text prompts, generating interest among Hollywood executives.

Additionally, Adobe recently began distributing an AI model capable of generating video from text prompts.