Vue Licenses AI Power to Other Exhibitors

AI-Powered Movie Success: Vue CEO’s Insights

CEO Tim Richards, of Vue, shared his insights into the company’s AI-powered model at the Financial Times’ Business of Entertainment Summit in Los Angeles. Vue’s CEO said the company’s AI model has helped it "punch above its weight in the marketplace" and target audiences for whom English is not their first language.

Speaking on a panel about AI, Richards said that close to 10 years ago, he and his executive team engaged a group in San Francisco that builds AI models for hedge funds and chose one that they felt could best serve Vue after looking at more than 50 products in beta testing. Vue then input more than 10 years of "incredibly granular-level" data into "an incredibly sophisticated" model, which analyses among other things the difference in concession stand spend between family and adult film customers.

The company started to see a return on investment six or seven years ago, with AI allowing it to play 50% more movies than its competitors and 46% of all movies shown in foreign language. Vue is not the largest cinema operator in Europe, but by box office and attendance, it is. In the UK, Vue is currently number one by box office and attendance, but not by the number of cinemas.

Licensing Opportunities

The executive said that Vue is now looking at setting up a separate vehicle to license the model out, due to interest from other exhibitors and players globally. The product is non-regional-specific, and Vue has built the engine itself.

Filling the Gap

Richards said that Vue has set up a distribution company to find non-English-language films across Europe. AI has allowed Vue to tailor specific films for specific audiences, such as Asian audiences in Inverness, Scotland, and the Turkish community in London. With Vue’s 22% occupancy rate, the company is flipping this to see a 78% to 80% opportunity.

Content Creation

With regard to content creation, Richards said, "I don’t think we’re going to see AI replacing human creativity. Humans’ ability to create new and original stories always amazes me… it is there and will continue to be there."

Conclusion

Vue’s use of AI has been a significant factor in its success, allowing the company to punch above its weight and target specific audiences. With potential licensing opportunities on the horizon, Vue is well-positioned for continued growth.

Frequently Asked Questions

1. How long has Vue been using its AI model?
   Vue has been using its AI model for close to 10 years.

2. How has AI helped Vue’s business?
   AI has allowed Vue to play 50% more movies than its competitors, 46% of all movies shown in foreign language, and to target specific audiences.

3. Will AI replace human creativity?
   No, Vue’s CEO believes that humans’ ability to create new and original stories will continue to exist.

4. What kind of interest has Vue received from other exhibitors?
   Vue has received interest from other exhibitors and players globally in licensing its AI model.

5. Will Vue’s AI model be available for licensing soon?
   Vue is exploring options to license its AI model out, but a specific timeline has not been announced.