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.
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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
