FILE PHOTO: The logo of Google LLC is shown on a building in San Diego, California, U.S., October 9, 2024. REUTERS/Mike Blake/File photo
(Reuters) -Google has launched a new film and TV production initiative to scout projects it could fund or co-produce, Business Insider reported, a move that could help it capitalize on an industry reeling from rising production costs and potential U.S. tariffs.
The initiative, called "100 Zeros", is a multi-year partnership with Range Media Partners, a talent firm and production company known for its work on films including "A Complete Unknown" and "Longlegs", according to the report on Monday.
Alphabet-owned Google is looking to boost the visibility and adoption of its newer offerings including AI and spatial computing tools that blend the physical and virtual worlds through the initiative, which backed the marketing of indie horror film "Cuckoo" last year, the report said.
100 Zeros is among the producers for "Cuckoo", according to entertainment-focused social platform Letterboxd.
Google did not immediately respond to a Reuters request for comment.
The reported move comes as Hollywood grapples with higher costs after twin strikes in 2023 by actors and writers, as well as the threat of U.S. tariffs on foreign-made films.
Google already has a partnership with Range Media — it announced last month the companies would work together over the next 18 months to commission films about AI. The first two films from the venture — called "Sweetwater" and "LUCID" — are set to release later this year.
Using Hollywood's cultural clout could also help the tech giant in the AI race as it rushes to drive up adoption of its services such as Gemini, which competes with the likes of OpenAI's ChatGPT.
The company, however, is not looking at YouTube as a primary distribution platform for 100 Zeros' work, Business Insider reported, adding the goal instead was to sell projects to traditional studios and streamers such as Netflix.
YouTube had ventured into original programming in 2016 with the launch of "YouTube Originals". The project was shuttered in 2022 as it pivoted back to its core focus on user-generated videos and ramped up its TikTok-style short-form offering, Shorts.
(Reporting by Deborah Sophia in Bengaluru; Editing by Shilpi Majumdar)
