Disney CEO Bob Chapek recently revealed the company’s long-term strategy metaverse or at least hinted at it for the time being. Additionally, Chapek discussed his metaverse concept and what it means for Disney to use the technology in the future, among other things.
Chapek made it apparent that The Walt Disney Company is looking beyond entertainment and sports streaming, which it presently wagers on, when he appeared on CNBC to discuss the company’s first-quarter profits for the fiscal year 2022. However, this expansion will not concentrate on fresh material, but rather on “sports betting,” “gaming,” and “the Metaverse,” which are wholly new verticals.
The goal is to provide Disney’s sports fans a more personal connection to their favourite teams and athletes by making their viewing experience more participatory. It is Chapek’s goal that the audience of his films become “Through Disney’s platforms, sports fans can stay up to date on their favourite teams, news, and players.
The second thing Chapek described was a vision for the organisation that was even more fascinating. When discussing Disney’s future in the metaverse, Chapek claimed the technology would deliver a more engaging experience to a wide spectrum of material. He referred to Disney’s entertainment offerings as well as its coverage of athletic events as the verticles of these triangles.
Disney, according to Chapek, “should succeed” at this “blending of the physical and digital experiences” since it is an area of expertise for the company. It’s unclear exactly how the firm intends to utilise the technology, although he did note that it would be more active rather than passive “interactive, forward-leaning, and involvement-inducing in nature.”
Considering Chapek’s comments, Disney’s current strategy is entirely in line with what he indicated. Disneyland guests will soon be able to enjoy 3D attractions that are uniquely tailored to them, according to a patent that was approved only last month. Using mixed reality, the system can monitor visitors around the park and offer them a variety of augmented reality effects at every turn.
In spite of its flaws, Disney’s worldwide prominence necessitates this kind of “metaverse.” Other metaverse-focused businesses are mostly digital in nature and, as a result, seek to provide people with access to a virtual environment. When it comes to a metaverse experience, Disney is able to go either way.
That’s why Chapek’s recent reference to a “blending” of physical and digital aspects reinforces this point. It’s evident that Disney is able to use the metaverse to delight its audience in a way that has never previously been possible. What child wouldn’t want to spend time with Mickey and Donald in their virtual environment, or watch the IPL in a virtual stadium with their favourite cricketers right in front of them?