Walt Disney and OpenAi reach agreement for Sora

The Walt Disney Company and OpenAI have reached an agreement for Disney to become the first major content licensing partner on Sora, OpenAI’s short-form generative AI video platform, bringing these leaders in creativity and innovation together to unlock new possibilities in imaginative storytelling.

Three-year licensing agreement

As part of this new, three-year licensing agreement, Sora will be able to generate short, user-prompted social videos that can be viewed and shared by fans, drawing from a set of more than 200 animated, masked and creature characters from Disney, Marvel, Pixar and Star Wars, including costumes, props, vehicles, and iconic environments. In addition, ChatGPT Images will be able to turn a few words by the user into fully generated images in seconds, drawing from the same intellectual property. The agreement does not include any talent likenesses or voices.

Alongside the licensing agreement, Disney will become a major customer of OpenAI, using its APIs to build new products, tools, and experiences, including for Disney+, and deploying ChatGPT for its employees.

As part of the agreement, Disney will make a $1 billion equity investment in OpenAI, and receive warrants to purchase additional equity.
Shared commitment

Under the agreement, Disney and OpenAI are affirming a shared commitment to the responsible use of AI that protects user safety and the rights of creators. Together, the companies will advance human-centered AI that respects the creative industries and expands what is possible for storytelling.

The transaction is subject to the negotiation of definitive agreements, required corporate and board approvals, and customary closing conditions.

Source: https://thewaltdisneycompany.com/disney-openai-sora-agreement/