Lightricks, the company behind popular apps like Facetune and Videoleap, today announced a new AI-powered filmmaking tool called LTX Studio. The studio helps creators from the idea stage, utilizing its AI to generate short clips to understand how the storyline will unfold.
LTX Studio, which currently invites users to sign up for a waiting list, is a web-based tool. The company plans to make the tool available to everyone next month and has no plans to charge a fee at this time.
How does the tool work?
Creators enter their ideas and LTX Studio creates scripts and storyboards with characters through prompts.
Image credits: light trix
A storyboard shows different scenes divided into many shots. Users can modify the scene by displaying prompts, changing the style of anime, movies, etc., changing weather settings, changing locations, etc. Each shot is typically only a few seconds long and includes customizations such as camera angle, motion scale, special effects, and character dialogue.
There's also a shot editor, where you can rename your shot and change settings for frames, motion scale, camera motion, duration, and sound.
Users can also add, remove or change characters throughout the concept through separate character tabs. You can also import images with visible faces to create characters for your storyline. Lytrix said that maintaining character consistency throughout the story was one of the key features the creators were looking for.
Once users have finished adjusting the storyline and editing shots, they can preview the film, export the file, or share it with others for feedback.
Lightricks believes the product is suitable for professionals such as filmmakers, people involved in pre-production, and advertising agencies. Jeev Farbman, the company's co-founder and CEO, said LTX Studios allows filmmakers to quickly create conceptual stories and create a variety of ways to shoot scenes without having to invest a lot of money. Said to be helpful in evaluating options.
Using AI in Lightricks products
Farbman said the company recognized the opportunity around AI in 2022 and began considering what next-generation products it could develop around AI.
“We recognized that there would be a paradigm shift with AI for all tool manufacturers. And we needed to understand what our next generation products would look like. There were a lot of them, but we wanted to develop something from scratch,” Farbman told TechCrunch over the phone.
The company has introduced AI-powered features in its Facetune and Videoleap products, but said it wants to develop new products as well. That thought process led to the development of his startup company, LTX Studio.
The new tool uses different AI models for different parts of the creation process, including the company's proprietary text-to-video model. However, not everything has AI. The company believes that AI is not yet producing high-quality background music, so it uses third-party asset providers for background music.
A survey conducted by the company last year revealed that 62% of users already use some kind of generative AI-based product. That's why Lightricks, like other creative product companies like Adobe and Canva, is increasing its AI-powered capabilities.
Lightricks is integrating products
Over the years, the company has released many apps for editing photos and videos. But last year, it began incorporating features from products like Beatleap for remixing videos, Motionleap for animating photos, and Filtertune for creating unique looks into its core products, including Facetune, Photoleap, and Videoleap. Some of its other individual apps still exist, but the company is more focused on developing hit products.
Lightricks has also discontinued certain products. In 2022, the company received support from TikTok star Charli D'Amelio and his family. At that time, he and his family started an editorial site called The247. We also launched a LinkInBio service called LinkInBio. The company has now discontinued both products.
The company has traditionally built consumer-facing apps, but is now diversifying its offerings. Last year, Lightricks acquired Popular Pays, a platform that connects brands and creators. Moreover, with the latest launch of his LTX studio, he aims to cater to more professionals.
Lightricks raised a massive $130 million Series D in 2021 led by Insight Partners. But the company said it is changing direction from being a consumer-only startup.
“Whether we raise another round or go public, the story is going to be built around AI for consumers as well as professionals. We need to show some traction and then reach out to the market,” Farbman said.
The company has laid off 12% of its workforce in 2022, but has no plans to cut its current workforce of 550.