Netflix has certainly captured hearts and minds with its recent land grab. The streaming giant acquired InterPositive, an artificial intelligence company co-founded by actor-filmmaker-and-American-treasure Ben Affleck. Last week, Netflix made a huge move to increase its film and television production. This new initiative will allow us to use cutting-edge AI technology for even greater efficiency and creativity.
InterPositive excels at helping filmmakers find the heart of their story through thoughtful picture and sound editing in post production. Focusing on the director’s creative process and the workflows of editors and post-production teams, the company plans to use AI to create more seamless workflows for everyone involved. This acquisition reinforces Netflix’s long-term strategy to embed generative AI into Netflix’s original content. It further underscores the firm’s commitment to technological innovation in storytelling.
Looking at the financial details of the acquisition shows that the entire deal could potentially be valued at $600 million. This makes it one of Netflix’s biggest acquisitions ever. Bloomberg was prescient when it wrote on the possible value of this deal. They pointed out the increasing competition in the entertainment industry, where deep-pocketed streamers quickly recruited AI specialists.
Twelve percent of Netflix’s productions have been created through the lens of generative AI already! One of the most prominent examples is the Argentine series “The Eternaut,” in which AI was used to generate a horrifying building-collapse scene. Such applications are great examples of the ways that AI can lead to more impactful visual storytelling while streamlining production to maximize efficiency.
Netflix’s recent investment into AI technology is part of a larger move towards artificial intelligence that we’ve seen among heavyweight players in the entertainment industry. More importantly, companies like Amazon and Disney are in the process of developing their own internal AI teams. They’re making strategic partnerships to smoothly incorporate AI into their film and television productions. Amazon, for its part, is clearly committed to making everything AI-powered in-house. At the same time, Disney recently announced an exclusive one-year agreement with OpenAI to supercharge its creative workflows.
Netflix is now buying InterPositive to boost its production capacities. Additionally, this pivot will reinforce its leadership in the increasingly dynamic landscape of digital entertainment. The move highlights the company’s commitment to using pioneering technology to provide compelling, best-in-class content to all of its subscribers.