Claim: In 1940, Pinocchio, traditionally animated by Walt Disney Productions (founded on October 16, 1923) and released on February 7, 1940, won two Academy Awards for Best Original Song for "When You Wish Upon A Star", and for Best Original Score.
Evidence: Pinocchio is a 1940 American animated musical fantasy adventure film produced by Walt Disney Productions and based on the 1883 Italian children's novel The Adventures of Pinocchio by Carlo Collodi. October 16, 1923; 97 years ago (1923-10-16) (as Disney Brothers Cartoon Studio) The film was released to theaters by RKO Radio Pictures on February 7, 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 was the second animated feature film produced by Disney, made after the first animated success Snow White and the Seven Dwarfs (1937).