The Walt Disney Co. said Wednesday that it had signed a deal with TikTok allowing users of the hugely popular video platform to add extracts of Disney films and characters, in what it billed a “first-of-its-kind agreement”.
“The agreement will bring creators to the forefront of Disney+, with a curated feed of fan-created content featuring our characters and stories,” the entertainment giant said.
Details of the content sharing accord were not disclosed in Disney’s quarterly earnings statement, which showed a seven percent rise in quarterly revenue to $25.2 billion.
But the move is part of its strategy of “Using advanced technologies to power our storytelling and increase monetisation and returns”, the company said.
It has already introduced vertical video feeds for previews of its Pixar, Marvel and “Star Wars” productions on its Disney+ streaming service, similar to TikTok’s scrolling format.
Net profit in its financial quarter to June 27 fell to $2.8 billion from $5.9 billion a year earlier, reflecting in part a higher tax bill in the period, but the results were above most analyst forecasts.
AFP
