"Disney CEO Bob Iger says his company's major licensing deal with OpenAI is all about establishing a foothold in a new realm of entertainment and engaging younger audiences. The licensing agreement gives ChatGPT and OpenAI's Sora video platform access to Disney characters like Mickey Mouse and Darth Vader. Disney is also investing $1 billion in the AI company and becoming a "major customer.""
"Iger said the deal also fulfills a longtime desire by Disney to put user-generated content on its Disney+ streaming platform. Disney initially plans to put select videos created on Sora onto Disney+ to increase engagement with users, especially younger ones. Ultimately, Iger wants to let Disney+ users create such videos within the platform itself."
Disney and OpenAI completed a licensing agreement that grants OpenAI access to iconic Disney characters and prompts a $1 billion Disney investment in the company. The pact names OpenAI as a major customer and enables ChatGPT and the Sora video platform to use Disney intellectual property. Disney plans to surface select user-generated videos created on Sora within Disney+ to boost engagement, with a longer-term goal of enabling in-platform AI video creation for subscribers. The deal aims to counter flat streaming engagement by leveraging AI-driven, social-style content favored by younger audiences.
Read at Business Insider
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