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The Walt Disney Company and OpenAI confirmed a three-year content licensing agreement Thursday, allowing OpenAI's Sora to generate short, user-prompted videos featuring Disney's intellectual property.

Sora will gain access to more than 200 animated, masked and creature characters from Disney, Marvel, Pixar, and Star Wars, including costumes, vehicles, and iconic environments, according to a statement by OpenAI.

ChatGPT Images will also be able to generate depictions based on the same intellectual property.

Disney will concurrently make a $1 billion equity investment in OpenAI and receive warrants to purchase additional equity.

Disney will also become a major customer, utilizing OpenAI’s APIs to build new products and experiences, including for Disney+, and deploying ChatGPT for employees.

The companies expect the fan-inspired videos featuring Disney's licensed characters to begin rolling out in early 2026, with curated selections of the Sora-generated videos available for streaming on Disney+.

"The rapid advancement of artificial intelligence marks an important moment for our industry, and through this collaboration with OpenAI we will thoughtfully and responsibly extend the reach of our storytelling through generative AI," said Disney CEO Robert Iger.

"This agreement shows how AI companies and creative leaders can work together responsibly to promote innovation that benefits society, respect the importance of creativity, and help works reach vast new audiences," said OpenAI co-founder and CEO Sam Altman.

The transaction remains subject to negotiation of definitive agreements, requires corporate and board approvals, and customary closing conditions.