The company's CEO, Zeev Farbman, believes the tool will be beneficial for professionals such as filmmakers, pre-production teams, and ad agencies, allowing them to create conceptual stories or evaluate different shooting options without significant investment. Lightricks has been incorporating AI into its products since 2022 and is focusing on developing its hit products more, while discontinuing certain others. The company, which raised $130 million in a Series D round in 2021, is shifting its focus from being a consumer-only startup to also catering to professionals.
Key takeaways:
- Lightricks, the company behind Facetune and Videoleap, has announced a new AI-powered filmmaking tool called LTX Studio, which helps creators generate AI-powered short clips and understand how a storyline would play out.
- The tool allows creators to type an idea, and it will create a script, storyboard, and characters. Users can modify scenes, weather settings, and locations, and can also add, remove, or modify characters.
- Lightricks sees this product as being suitable for professionals like filmmakers, people involved in pre-production, and ad agencies, as it allows for quick creation of conceptual stories and evaluation of different shooting options without significant investment.
- Lightricks has been consolidating its products, folding features of apps like Beatleap, Motionleap, and Filtertune into its main products like Facetune, Photoleap, and Videoleap. It has also discontinued some products and is focusing on developing its hit products more.