Google, Meta Offer Hollywood Studios 'Tens of Millions of Dollars' for AI Deals

By Jace Dela Cruz

May 24, 2024 03:49 AM EDT

Meta and Google have reportedly talked with major Hollywood studios for licensing deals that could enhance the tech giants' AI video generation software. 

This picture taken on March 25, 2024, shows the Meta (former Facebook) logo on a smartphone in Mulhouse, eastern France.
(Photo : SEBASTIEN BOZON/AFP via Getty Images)

Meta and Google Offer Millions of Dollars for AI Deals

According to Bloomberg sources, Meta and Google have proposed deals worth "tens of millions of dollars." Both firms are reportedly developing technology that could make realistic scenes from a text prompt.

They have already spoken with the studios to help them advance their video generation tools, but the outcome of their talks remains uncertain.

Bloomberg reported that Netflix and Disney were unwilling to license their content but were interested in other collaborative ventures. Warner Brothers Discovery has reportedly expressed willingness to license some of its programs.

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AI-Powered Video Tools

The proposed deals aim to boost the development of AI-driven video tools. Google recently demonstrated a text-to-video model named Veo, with actor Donald Glover promoting its capabilities.

However, Hollywood studios may have reservations about these deals. While AI-editing tools are attractive, the entertainment industry is concerned about AI companies' potential misuse of their creative works.

READ MORE: Facebook, Instagram Face EU Probe Over Suspicions of Failing to Impose Child Protection Policies

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