Peter Chernin’s North Road, Andreessen Horowitz Backing New Gen AI-Focused Entertainment Studio

A new Hollywood entertainment studio wants to put generative artificial intelligence at the heart of all its projects, and it has backing from a pair of major power players in the business: The North Road Company and Andreessen Horowitz.

The new studio, Promise, is being led by George Strompolos, who was the CEO and founder of creator-centric software and media company Fullscreen; as well as Jamie Byrne, who most recently led creator partnerships for YouTube; and Dave Clark, a filmmaker who uses AI in his work.

Strompolis will be CEO, with Byrne serving as resident and COO, and Clark as chief creative officer.

Peter Chernin’s North Road and a16z partner Andrew Chen led the investment round, giving the studio cash but also the resources of Hollywood and Silicon Valley heavy hitters. Chernin’s TCG previously invested in Fullscreen.

Promise is launching during a disruptive moment for the entertainment industry, with many in the business fearful of Gen AI’s potential to shake up how the industry operates. The technology was a focal point in last year’s Writers Guild of America and SAG-AFTRA strikes, with the actors union ultimately seeking compensation for their members for use in AI-generated projects or roles, and with the WGA seeking stricter rules around how the tech can be used.

Given their backgrounds in the worlds of creator-driven content, it is no surprise that the new studio is leaning into that world, hoping to leverage proprietary software to help creators level up their productions, while also “engaging with leading Gen AI artists, Hollywood talent, and rights-holders to develop a multi-year lineup of category-defining films and series.”

“We are investing in a new class of Gen AI talent who blend traditional filmmaking chops with cutting-edge technical expertise, setting a new standard for high-quality storytelling enabled by AI,” said Strompolos in a statement. “We believe this is a transformational moment in entertainment and a studio must be built from the ground up — around the artists, the tech, and a new workflow — in order to unlock its full potential.” 

“There is something undeniably exciting about Generative AI, and we are bullish on George and Promise’s ability to empower storytellers,” Chernin added. “This team understands that prioritizing artists and creatives is the only approach as we begin to apply Generative AI into the creative process, and Promise has the most inventive and user-friendly model we have seen.”

Promise has developed new software that it calls MUSE, which integrates gen AI tools across the production process, and will be at the heart of its projects.

In an open letter on their website, the founders elaborated on their vision for the company, one that still centers creative people:

“This new era of creativity holds extraordinary promise, but it takes more than advanced technology to succeed. To bring great stories to life, we need great storytellers—writers, actors, producers, directors, visual effects artists, and so many others—who bring their creativity and vision to every project. For Promise, technology is the backbone, but the creative community is the heart and soul.”

North Road’s holdings include stakes in the production companies Kinetic Content; Left/Right; 44 Blue Productions; Words + Pictures, as well as Questlove’s Two One Five Entertainment and Peyton manning’s Omaha Productions. A16z currently has $44 billion in committed capital, and its investments have included AirBnB, Slack, Instacart, Substack, and Roblox.