Warner Bros. Discovery Inc. WBD and Google by Alphabet Inc. GOOGL GOOG are collaborating to integrate AI technology into the Max streaming platform.
What Happened: The partnership aims to enhance caption accuracy using a new tool called “caption AI,” built on Google's Vertex AI platform. Initially, this will be applied to unscripted programming on Max, as per the press release by Google.
The companies claim the new tool can reduce captioning costs by up to 50% and cut the time required to create new captions by up to 80%. Avi Saxena, CTO of Warner Bros. Discovery’s direct-to-consumer business, emphasized the importance of high-quality captions.
Thomas Kurian, CEO of Google Cloud, highlighted the potential of AI to transform media processes, delivering significant business impact. The Max platform features popular shows like “Game of Thrones” and “The Last of Us.”
Why It Matters: This partnership comes at a crucial time for Warner Bros. Discovery . Recently, the company has been making strategic moves to bolster its position in the competitive streaming market. Warner Bros. Discovery announced a multi-year distribution agreement with Charter Communications, integrating linear video and streaming services. This deal allows Charter's Spectrum TV customers to access Max content at no extra charge, which has positively impacted Warner Bros. Discovery’s stock prices.
Moreover, the company’s stock has seen a 21% increase since the announcement of this deal, signaling investor confidence. The early completion of this agreement underscores the urgency both companies feel in adapting to the rapidly evolving media landscape.
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This story was generated using Benzinga Neuro and edited by Pooja Rajkumari
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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