|LA startup Cinelytic can predict film success through AI and machine learning / Credits: gnepphoto via Shutterstock|
Major film companies and studios are stepping up their game to ensure that every film they produce and release becomes a success. For instance, 20th Century Fox has been leveraging an artificial system called Merlin, which uses AI and machine learning to match particular films to particular genres and audiences. This helps the company identify the ideal demographic(s) for any given film and decide how it should be advertised and classified.
Cinelytic, an LA startup, claims that it can predict film success using machine learning. Tobias Queisser, Cinelytic’s CEO, emphasized AI only acts as an assistive tool throughout the process. “What it is good at is crunching numbers and breaking down huge data sets and showing patterns that would not be visible to humans. But for creative decision-making, you still need experience and gut instinct,” he said.
Recently, Warner Bros. announced that they will be using Cinelytic’s algorithms “to guide decision-making at the greenlight stage.” According to Forbes, a global media company focusing on business, investing, technology, entrepreneurship, leadership, and lifestyle, the AI system will help in determining the 'value' (i.e. profitability) of an actor in any major territory as well as calculate how much money a film is likely to earn in cinemas and through supplementary merchandising.
Andrea Scarso, a film investor and Cinelytic customer, stated that the startup's software opens up a conversation about different approaches. “You can see how, sometimes, just one or two different elements around the same project could have a massive impact on the commercial performance,” he said.
Aside from 20th Century Fox and Warner Bros., other film studios and production companies have also turned to AI. For instance, Belgium-based ScriptBook uses AI in several ways such as analyzing a film's script and estimating the revenues that film is likely to earn.