Disney is building its own metaverse: Bob Chapek
The company plans to build its metaverse by connecting physical and digital worlds even more closely, CEO Chapek told analysts during the Q4 earnings conference call
Metaverse has become the latest buzzword in the media and tech industry. After Facebook, The Walt Disney Company has revealed plans of building its own metaverse. CEO Bob Chapek has said that the company plans to build its metaverse by connecting physical and digital worlds even more closely.
“Our efforts to date are merely a prologue to a time when we'll be able to connect the physical and digital worlds even more closely, allowing for storytelling without boundaries in our own Disney metaverse. And we look forward to creating unparalleled opportunities for consumers to experience everything Disney has to offer across our products and platforms, wherever the consumer may be,” Chapek told analysts during the Q4 earnings conference call.
Disney, he said, is truly unique and has a significant presence in the physical world through parks and resorts, as well as media entertainment assets in the digital world. “And it is incredible to see how our use of emerging technology and insights gained through our enumerable consumer touch points is enabling us to transform the way people interact with and experience our stories and products in both worlds,” he added.
Chapek noted that Disney has a long track record as an early adopter in the use of technology to enhance the entertainment experience, Steamboat Willie, the first cartoon with synchronized sound, our groundbreaking development and use of audio animatronics. “We were the first to distribute downloaded content on the new Apple iPod back in 2005. Pixar has been a pioneer in computer animation. These are just a few examples,” he added.
The Disney CEO is also excited about the company's future given the diverse assets in its portfolio. “As we look ahead to this next frontier, given our unique combination of brands, franchises, physical and digital experiences and global reach, we see limitless potential and that makes us as excited as ever about The Walt Disney Company's next 100 years.”
In fiscal '22, Disney will remain keenly focused on advancing its strategic priorities for the future in order to drive continued growth. “First and foremost, telling the world's most original and enduring stories; second, maximizing the synergy of our unique ecosystem to deepen consumers' connection to our characters and our stories; and lastly, using the power of our far-reaching platforms and new technologies to give consumers the best entertainment experience possible,” he noted.
