Runway allocates $5 million to finance up to 100 films utilizing AI-generated video

AI video generators must believe that filmmakers will integrate their models into production; otherwise, what purpose do they serve? To foster this new AI film landscape, Runway has allocated $5 million in cash and additional service credits to support up to 100 original films. For AI-savvy directors, this is a prime opportunity for funding.

Runway’s Hundred Film Fund aims to kick-start any video project utilizing the company’s generative video model. According to their blog, traditional funding often overlooks innovative visions within the industry.

Specifically, Runway is committing $5 million to grant filmmakers for projects like features, shorts, documentaries, experimental works, music videos, or even formats not yet imagined. Additionally, recipients could receive up to $2 million in Runway credits.

The announcement suggests that the cash portion may increase to $10 million. Jamie Umpherson, Runway’s Head of Creative, explained that they intend to be flexible with the fund’s scope. They’re starting with 100 films but aspire to expand further in the future.

Regarding how to equitably divide $5 million among 100 projects, especially with grants potentially reaching $1 million, Umpherson noted that each project will be evaluated based on its specific production needs. Interested filmmakers can find the details and apply online. Directors with some experience might also want to aim for one of five “director residency” spots, although the specifics are still unclear.

Importantly, Runway will not claim ownership or control over the projects, only requiring biweekly production updates and permission to showcase the final products. They will also have advisors, including Tribeca co-founder Jane Rosenthal and will.i.am, who will help choose recipients and possibly provide additional support.

While the fund encourages the use of their product, it’s true that traditional production companies often overlook newer, experimental tools. A financial boost can sometimes unlock innovative uses of technology from creators who might not otherwise receive funding.

However, there are valid concerns about varying quality. As industry veteran Michael Black pointed out, providing someone with advanced tools doesn’t guarantee they’ll produce exceptional work. The hope is that among the 100 projects funded, at least a few will demonstrate the true potential of AI-generated video.

Some filmmakers may pursue funding merely for financial gain, producing quick, low-effort projects. But if several creators embrace both the funding and the technology, that would likely be a positive outcome for Runway.