### New Hollywood Studio 'Promise' Focuses on Generative AI, Backed by Major Investors

A new Hollywood entertainment studio, christened 'Promise,' is setting its sights on integrating generative artificial intelligence as a core component of its projects. Promise is pioneering this approach with the backing of significant industry players: The North Road Company and venture capital firm Andreessen Horowitz (a16z).

Heading the new venture is George Strompolos, the visionary who founded and led Fullscreen, a company specializing in creator-centric software and media. Joining him in leadership roles are Jamie Byrne, former head of creator partnerships at YouTube, and filmmaker Dave Clark, who has been utilizing AI in his creative work. Strompolos takes on the role of CEO, Byrne is president and COO, while Clark will serve as the chief creative officer.

Investment for Promise has been fueled by notable figures including Peter Chernin's North Road and a16z partner Andrew Chen. This financial support not only provides the studio with essential capital but also bridges resources from the powerhouse realms of Hollywood and Silicon Valley. Notably, Chernin's TCG had previously invested in Fullscreen, underscoring a history of collaboration.

The launch of Promise comes at a time of significant disruption for the entertainment industry, particularly with growing concerns about the impact of generative AI. This technology was a prominent topic during the Writers Guild of America and SAG-AFTRA strikes last year. The actors' union has advocated for compensation for AI-generated roles, while the WGA has sought more stringent regulations on the technology's application.

Promise aims to capitalize on the creator-driven content arena, utilizing proprietary software to enhance production quality. The studio plans to collaborate with leading generative AI artists, Hollywood talent, and rights-holders, curating a slate of innovative films and series over the coming years.

"We are investing in a new class of Gen AI talent who blend traditional filmmaking chops with cutting-edge technical expertise, setting a new standard for high-quality storytelling enabled by AI," Strompolos stated. He emphasized the need for a studio built from scratch to fully harness the transformative potential of AI in entertainment.

Peter Chernin expressed his enthusiasm, saying, "There is something undeniably exciting about Generative AI, and we are bullish on George and Promise's ability to empower storytellers. This team understands that prioritizing artists and creatives is the only approach as we begin to apply Generative AI into the creative process."

To streamline their ambitious goals, Promise has developed a new software named MUSE, which integrates generative AI tools throughout the production processes. In an open letter on their website, the founders emphasized that their vision relies on placing creative talent at the forefront while technology serves as the backbone.

North Road's portfolio includes holdings in numerous production companies like Kinetic Content, Left/Right, 44 Blue Productions, Words + Pictures, Questlove’s Two One Five Entertainment, and Peyton Manning's Omaha Productions. On the other hand, Andreessen Horowitz commands $44 billion in committed capital, with investments in prominent companies like Airbnb, Slack, Instacart, Substack, and Roblox.