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A former DreamWorks president just raised $11.6M to build franchises using AI
- Former DreamWorks president, Chris deFaria's Chronicle Studios raised $11.6M to create Hollywood franchises using AI.
- AI will help animators grow audiences and monetize projects beyond YouTube.
- AI has been utilized in Hollywood for script reading, dubbing, and visual effects.
- Chris deFaria, aiming to create Hollywood franchises with AI, secured funding for Chronicle Studios.
- Chronicle Studios backed by Patron, Point72 Ventures, Z Ventures, Sands Capital, and others.
- Chronicle's focus is on marketing and distribution to boost creators' shows and develop franchises.
- DeFaria and Sisto identified AI as a tool to enhance audience growth in the evolving marketing landscape.
- Chronicle provides funding, business plans, and AI tools to help animators distribute content and build fan bases.
- Investing up to 40% of the $11.6M raised in creators, Chronicle has backed six creators and aims for 15 by year-end.
- Creators backed by Chronicle remain undisclosed, with projects in various stages, such as upcoming short films.
- Chronicle's approach involves building loyal fan bases through platforms like YouTube.
- Similar ventures in the market include Further Adventures and Promise, focusing on independent creators and AI.
- Chronicle's goal is long-term monetization for creators through avenues like streaming services, ad-supported channels, and more.
- They prioritize building fan communities over short-term view hacks with AI tools.
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