Tech giants, including Facebook owner Meta and Microsoft, are pouring billions of dollars into the metadatabase. In the entertainment industry, he stepped into the Walt Disney Company, the world's largest media company, to implement his strategies for Metaverse.
The Walt Disney Company officially announced its 'virtual universe' plans in November. CEO Bob Chapek, in his statement on the subject, stated that he trusts Disney's past in the entertainment industry and that they will offer a completely different experience to consumers by blending the company's experience with the metaverse.
Mike White, who has held another position with the company for nearly 10 years, will continue his career as Disney's Senior Vice President of Next Generation Storytelling and Consumer Experiences. In this role, White will be responsible for the firm's plans to create its own virtual universe.
CEO Bob Chapek talked about his Metaverse goals in a memo to Disney employees.
He stated that they will be able to tell excellent stories through the virtual universe they will establish. Chapek described Metaverse as "the perfect place to pursue innovation and audience-oriented strategies."
Bob Chapek also stated that the Metaverse could be "the next evolution of Disney's 100-year-old tradition of storytelling." However, he said:
“Today we have the opportunity to connect universes and create an entirely new model for how audiences experience and interact with our stories.”
Although the CEO of Disney made ambitious statements, he did not mention the details.
It's unclear where, when and how the company will implement the virtual universe idea, except that it has identified the name that will lead the Metaverse strategy.
Last week, Disney said that sales at its theme parks in the US have risen above pre-pandemic levels. It also announced that its Disney+ streaming service added 11.8 million subscribers in the final three months of 2021, bringing its total to nearly 130 million worldwide.