Walt Disney Company and OpenAI have signed an agreement to bring characters across multiple universes for video generation Sora to use, as per an official press release by the AI startup.
The statement says Sora will be able to draw on 200 characters from Disney, Marvel, Pixar, and Star Wars for its video generation technology.
Both parties have agreed to responsibly use AI, something which generative AI companies are getting into trouble for due to repeated instances of copyright infringement of owned content and impressions of famous personalities.
As part of the agreement, the Walt Disney Company is to become a major customer of OpenAI and will be given access to its APIs (Application Programming Interfaces) to be used for developing new products; new experiences are expected to be added to Disney+.
Walt Disney Company will be making a $1 billion equity investment in OpenAI. The update comes at a time when the entertainment industry is under pressure to gain exclusive content.
Disney+ could stand to lose market share from the Netflix-Warner bros deal, as the streaming giant will gain considerable access to multiple award-winning shows and TV shows if the merger goes through.
The Walt Disney Company is in the midst of a years-long turnaround attempt to win back lost market share. Shares of the firm have plunged by 36.57% over the past 5 years. It currently trades at $111.46.
Source: Google Finance
OpenAI’s video generation technology continues to expand with a recent rollout of Sora 2 to North America.
The Walt Disney Company is not the only aged U.S. brand looking for a revival through partnerships with newer, more aggressive startups. OpenAI also announced a collaboration with Mattel to test out Sora 2