Lionsgate acquires a stake in Runway and co-develops AI series.

Lionsgate takes an equity stake in Runway to co-develop an AI-generated episodic series using its catalog, aiming for millions in production savings.

Lionsgate (NYSE: LION) and Runway are deepening their collaboration with two new developments: the studio is taking an equity stake in the generative AI company, and the two partners are establishing a joint development program to create new intellectual properties. The first project is a short-form episodic series drawing from Lionsgate's catalog and Runway's generative models. The studio did not specify which franchises would be selected from its more than 20,000 titles, which notably include John Wick and The Hunger Games. The two companies will also collaborate on events for filmmakers, with Lionsgate serving as the presenting partner for the Runway AI Festival this month.

The stake is not a cash investment, and its amount has not been disclosed. Runway, valued at approximately $5.3 billion, is not a new partner: the initial agreement dates back to September 2024, the first alliance between a Hollywood major and an AI company, then focused on previsualization, storyboarding, and post-production stages.

However, a dissonance remains in the messaging. Cristóbal Valenzuela, co-founder and co-CEO of Runway, presents AI as a creative resource rather than a cost-cutting tool; on Lionsgate's side, Vice Chairman Michael Burns has publicly estimated expected production savings at tens of millions of dollars per year, which fuels concern among some creatives.