AI Tools Can Slash Film Production Costs by 90%, Industry Leaders Say at TIFFCOM
variety.comNaman Ramachandran Asian film and tech leaders gathered at TIFFCOM, the market allied to the Tokyo International Film Festival, to discuss the transformative impact of generative AI on film production.
They highlighted its potential for dramatic cost reductions and new investment opportunities. Kevin D.C. Chang, AI director and CEO of Metavision Co., South Korea, demonstrated how AI tools helped him reduce a $4.1 million production budget to approximately $400,000 for “Cinque Terra,” a film set across five international locations. “I made it in my computer and by myself.
I made music, I made sound design, I did everything,” Chang said, noting that AI eliminated traditional location shooting costs while maintaining production quality.
The cost efficiencies are attracting new categories of investors, according to Nicholas Aaron Khoo, chair of Singapore’s N Prime Partners Capital. “When you lower cost and time to market, you’re technically lowering the risk.
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