Today, the developer of popular applications like Facetune and Videoleap, The Lightricks, introduced LTX Studio, a new AI-powered filmmaking tool. The studio works with artists from the ideation stage to produce a brief, AI-powered clip that helps them visualize how a story might unfold.
LTX Studio is an online tool inviting users to the waiting list. The tool will be freely accessible to all users starting next month, and there are currently no plans to charge for it.
How is the tool operated?
First, creators can type in an idea, and LTX Studio will implement a prompt to create a script, storyboard, and cast of characters for them.
The storyboard features multiple shots of various scenes. Consumers can modify the scenes by prompting, adjusting the weather, changing the location, and changing the style (such as anime or cinematic). With adjustments to the camera angles, motion scale, visual effects, and characters dialogue, each shot usually lasts only a few seconds.
Additionally, a shot editor can rename the shot and adjust its frame, motion scale, duration, camera motion, and sound settings.
The user can add, remove, or change characters for the entire concept using a separate characters tab. Users can also import an image showing a face to generate a character for the plot. Lightricks stated that character integrity throughout the narrative was one of the most essential things narrative producers aimed for.
After adjusting the plot and completing shot editing, users can export the file, view the movie, and share it with others for comments.
According to Lightricks, professionals like filmmakers, pre-production workers, and advertising agencies should use this product. Zeev Farbman, President and co-owner of the company, stated that LTX Studio will help filmmakers evaluate various options for filming a scene without investing an immense amount of money or quickly creating conceptual stories.
AI application in Lightricks productsÂ
According to Farbman, the company began considering what kinds of next-generation products it might create using AI in 2022 after realizing the potential it presented.
Farbman told TechCrunch, We realized that AI will cause a paradigm transformation for all tool manufacturers. We also needed to design the appearance of our upcoming products. Even though we owned many renowned products, we intended to create things from scratch.
The business claimed to have added AI-powered functionality to its Facetune and Videoleap products, but it also intended to develop a brand-new offering. The startup created LTX Studio as a result of this thought process.
The new tool employs a variety of AI models, including the business’s proprietary text-to-video model, for various stages of the creation process. But not everything is powered by AI. The company gets its background music from outside asset providers because it doesn’t think AI can create high-quality background music.
According to a survey the company did last year, 62 percent of users are currently using generative AI-based products. Because of this, Lightricks is investing more in AI-powered features, much like Canva, Adobe, and other companies that make creative products.
Lightricks groups its merchandise
Over the years, the organization has introduced many video and photo editing apps. However, it began incorporating functions from apps like
- Beatleap, which allows users to remix videos
- Motionleap, which will enable users to animate photos
- Filtertune allows users to create personalized looks.
Into its flagship products, Facetune, Photoleap, and Videoleap, last year. The company spends more time developing its popular products, although a few other independent applications are still available.
Furthermore, Lightricks has stopped selling a few products. Charli D’Amelio, a popular user on TikTok, and her family supported the business in 2022. By then, it launched The247, an editorial website, collaborating with the family. Furthermore, it introduced LinkInBio, a link-in-bio service. These products are no longer available from the company.
The business has constantly developed customer-oriented applications but is expanding its product range. A platform that links brands and creators, Popular Pays, was purchased by Lightricks last year. Plus, it wants to serve more professionals with the recent launch of LTX studio.
In 2021, Lightricks successfully raised a 130 million dollar Series D round powered by Insight Partners. However, the business announced it will no longer be a consumer-only startup.
The narrative surrounding AI will develop for professionals and consumers, whether through public release or another round of funding. To do that, we must first introduce our tools and gain some interest, and then we will approach the market, according to Farbman.
The company did not intend to reduce its present staff of 550 employees, despite laying off 12 percent of its workforce in 2022.
