The second full-length animated Walt Disney film, Pinocchio, premieres.

Pinocchio is a 1940 American animated musical fantasy film produced by Walt Disney Productions and based on the 1883 Italian children's novel The Adventures of Pinocchio by Carlo Collodi. It was the second animated feature film produced by Disney, made after the first animated success Snow White and the Seven Dwarfs (1937).

The plot involves an old Italian woodcarver named Geppetto who carves a wooden puppet named Pinocchio. The puppet is brought to life by a blue fairy, who informs him that he can become a real boy if he proves himself to be "brave, truthful, and unselfish". Pinocchio's efforts to become a real boy involve encounters with a host of unsavory characters. The key character of Jiminy Cricket is based on a 100-year "wise, old" talking cricket from the original book, who warns Pinocchio of his impudence when they meet only to be killed in return shortly after, before returning as a ghost. The film was adapted by several storyboard artists from Collodi's book. The production was supervised by Ben Sharpsteen and Hamilton Luske, and the film's sequences were directed by Norman Ferguson, T. Hee, Wilfred Jackson, Jack Kinney, and Bill Roberts. Pinocchio was a groundbreaking achievement in the area of effects animation, giving realistic movement to vehicles, machinery and natural elements such as rain, lightning, smoke, shadows and water. The film was released to theaters by RKO Radio Pictures on February 23, 1940.

Although it became the first animated feature to win a competitive Academy Award winning two for Best Music, Original Score and for Best Music, Original Song for "When You Wish Upon a Star" it was initially a box office bomb, mainly due to World War II cutting off the European and Asian markets overseas. It eventually made a profit in its 1945 reissue, and is considered one of the greatest animated films ever made, with a 100% rating on the website Rotten Tomatoes. The film and characters are still prevalent in popular culture, featuring at various Disney parks and in other forms of entertainment. In 1994, Pinocchio was added to the United States National Film Registry for being deemed "culturally, historically, or aesthetically significant".In April 2015, a live-action adaptation officially entered development, with filming beginning in March 2021. It is scheduled for release on Disney+ on September 8, 2022.

Walter Elias Disney (; December 5, 1901 – December 15, 1966) was an American animator, film producer and entrepreneur. A pioneer of the American animation industry, he introduced several developments in the production of cartoons. As a film producer, he holds the record for most Academy Awards earned and nominations by an individual, having won 22 Oscars from 59 nominations. He was presented with two Golden Globe Special Achievement Awards and an Emmy Award, among other honors. Several of his films are included in the National Film Registry by the Library of Congress. Disney was the first person to be nominated for Academy Awards in six different categories, a record he shares with Alfonso Cuaron and George Clooney (although Kenneth Branagh later surpassed all three with nominations in seven categories).

Born in Chicago in 1901, Disney developed an early interest in drawing. He took art classes as a boy and got a job as a commercial illustrator at the age of 18. He moved to California in the early 1920s and set up the Disney Brothers Studio with his brother Roy. With Ub Iwerks, he developed the character Mickey Mouse in 1928, his first highly popular success; he also provided the voice for his creation in the early years. As the studio grew, he became more adventurous, introducing synchronized sound, full-color three-strip Technicolor, feature-length cartoons and technical developments in cameras. The results, seen in features such as Snow White and the Seven Dwarfs (1937), Pinocchio, Fantasia (both 1940), Dumbo (1941), and Bambi (1942), furthered the development of animated film. New animated and live-action films followed after World War II, including the critically successful Cinderella (1950) and Mary Poppins (1964), the latter of which received five Academy Awards.

In the 1950s, Disney expanded into the amusement park industry, and in July 1955 he opened Disneyland in Anaheim, California. To fund the project he diversified into television programs, such as Walt Disney's Disneyland and The Mickey Mouse Club. He was also involved in planning the 1959 Moscow Fair, the 1960 Winter Olympics, and the 1964 New York World's Fair. In 1965, he began development of another theme park, Disney World, the heart of which was to be a new type of city, the "Experimental Prototype Community of Tomorrow" (EPCOT). Disney was a heavy smoker throughout his life and died of lung cancer in December 1966 before either the park or the EPCOT project were completed.

Disney was a shy, self-deprecating and insecure man in private but adopted a warm and outgoing public persona. He had high standards and high expectations of those with whom he worked. Although there have been accusations that he was racist or anti-Semitic, they have been contradicted by many who knew him. His reputation changed in the years after his death, from a purveyor of homely patriotic values to a representative of American imperialism. He nevertheless remains an important figure in the history of animation and in the cultural history of the United States, where he is considered a national cultural icon. His film work continues to be shown and adapted; his namesake studio and company maintain high standards in their production of popular entertainment, and the Disney theme parks have grown in size and number to attract visitors in several countries.