Navigating Wealth What Disney's Deal With OpenAI Tells Us About the Future of IP Ownership
Mar 4, 2026
Michael Saperstein, former in-house counsel at MLB, Marvel, and Disney, brings insider stories from the rise of MLB Advanced Media to Marvel’s licensing engine. He discusses how the iPad reshaped digital comics, why centralized streaming rights changed valuations, and the looming threat of generative AI to traditional IP licensing. Short, sharp takes on legal strategy, career resilience, and the future of creative ownership.
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iPad Instantly Changed Digital Comics Economics
- The iPad's full‑color tablet display transformed digital comics into a viable business overnight.
- Michael signed an NDA with Apple to preview the device and watched Marvel Comics become compelling on the new platform.
Consumer Products Remain A Major Revenue Pillar
- Consumer products broadly remain a major revenue pillar alongside streaming and parks for companies like Disney.
- Video games and digital integrations (toys‑to‑life, apps) grew as material revenue streams and often augment physical product deals.
AI Forces New Licensing Models For Characters
- Generative AI threatens traditional IP licensing by letting users create content using ingested IP without payment, prompting formal licensing deals like Disney's with OpenAI.
- Michael views industry licensing of official character access (e.g., Sora) as a logical defensive and commercial response.