50. Runway

CNBC

2 days ago

Founders: Cristóbal Valenzuela (CEO), Anastasis Germanidis, Alejandro Matamala OrtizLaunched: 2018Headquarters: New York CityFunding: $545 millionValuation: $3.5 billion (PitchBook)Key Technologies: Artificial intelligence, generative AIIndustry: Enterprise technology, mediaPrevious appearances on Disruptor 50 list: 0
Many in Hollywood and the broader creative community feel like they are under attack from AI. It was only months after ChatGPT's introduction when the major Hollywood unions representing writers and actors both voted to go on strike. But generative AI research and media company Runway says the future of filmmaking, incorporating a wider range of views and stories, will require focusing a generative AI lens on it.
Runway's three founders, Cristóbal Valenzuela, Anastasis Germanidis and Alejandro Matamala Ortiz, met while studying for their master's in interactive telecommunications at New York University's Tisch School of the Arts. Combining their backgrounds in art and engineering, the three went on to launch Runway the same year that they graduated.
"Runway is an invitation to artists, and others, to learn about and explore machine learning through more accessible tools. Machine learning is a complex field that will likely continue to impact our society for years to come, and we need more ways to give more people access," Valenzuela said in a statement.
The company offers a variety of content creation tools designed to be used by students and Hollywood directors alike. Just this May, the company released its newest tool called Gen-4, which allows users to generate consistent characters, locations and styles throughout their photographs or videos. By uploading just a single reference image, Gen-4 gives users access to tweak lighting scenarios, recast a character, switch camera angles or even change locations.
It's not just for movies, with multimedia storytelling created by Gen-4 used by brands across industries, enabling customers to virtually try on clothing, create new assets in video games, or virtually design their homes.
The AI video generation company's tools include Act-One, which streamlines the traditional process for facial animation and use of a video of an actor performing, and can preserve actors' facial expressions and realistically depict performances in live action or animated characters. Its Frames tools can help artists maintain a specific style with a simple set of written prompts — and extend to subject, scene, lighting and color.
Despite the time-saving tools and creative assist offered, the backlash from creators over AI has been significant. One study commissioned by creator unions and advocate groups found that 75% of executives in the industry whose divisions has used gen AI said it had already contributed to the elimination, reduction or consolidation of jobs.
Yet, Runway has received support from major names in the media industry across movies, television and music. Madonna's Celebration Tour used Runway's tools to generate visuals for the stage. Additionally, Runway's technology was used by editors on the Oscar-winning film "Everything Everywhere All at Once" and Stephen Colbert's "The Late Show."
Art programs at schools including Harvard University, New York University and Rhode Island School of Design also have begun incorporating Runway into their design and film curriculum.
There's another problem Runway's founders say its AI can help solve and which the film industry has long failed on: accessibility. Roughly two out of 10 theatrical film directors are people of color and even less are women, according to a study from the University of California, Los Angeles.
"I'm calling it Hollywood 2.0, where everyone is gonna be able to make the films and the blockbusters that only a handful of people were able to before," Valenzuela said in an interview with Variety.