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Walt Disney CEO Discusses Plans to Adopt Metaverse in Enhancing Story

UTC by Ibukun Ogundare · 3 min read
Walt Disney CEO Discusses Plans to Adopt Metaverse in Enhancing Story
Photo: Depositphotos

As part of the move to encompass the metaverse, Walt Disney has appointed veteran media and tech executive Mike White.

The CEO of American animation pioneer Walt Disney (NYSE: DIS), Bob Chapek, recently spoke about the company’s plans for a digital future, specifically metaverse. While speaking backstage at the company’s biennial D23 Expo fan convention, Chapek discussed the plan for Walt Disney to use technology to enhance storytelling for the next 100 years.

Walt Disney Reveals Vision for Metaverse

Technology has taken over the world, and it is here to stay. Although many companies have adopted the use of technology in executing their services, they keep exploring ways to go deeper as the world advances. Now, the “metaverse” is on the lips of many and in the plans of several companies. While some startups have made full debuts into the burgeoning space, more companies are already working on the path. As for Walt Disney, Chapek described the metaverse vision as “next generation storytelling.”

Walt Disney is looking to utilize data from theme park visits and its consumers’ streaming habits in its metaverse initiative. The company wants to provide personalized entertainment experiences, including from its Marvel and Lucasfilm studios. In a statement to Reuters concerning the metaverse plan, the Walt Disney Chief Executive said:

“Disney is absolutely a lifestyle. The question is, how is our next-gen storytelling leveraging what we know about a guest uniquely in this Disney lifestyle, then serving up unique experiences.”

The influx of entertainment and technology companies into the metaverse started after Facebook changed its name to Meta Platforms. The social media service provider announced the name change in October 2021, stating that it will primarily bring the metaverse to reality. CEO Mark Zuckerberg said the company is at the next chapter with the name change. He added that people could share their immersive experiences with each other using Meta Platforms.

Facebook Name Change Influences Metaverse Adoption

Long before Facebook changed its name to embody Metaverse, Chapek has been working on extending the theme park experience to people who will never visit any of the six parks Walt Disney owns globally. That was when Chapek was in charge of the park division before becoming the CEO in 2020.

As part of the move to encompass the metaverse, Walt Disney has appointed veteran media and tech executive Mike White. White is now in charge of the new Next Generation Storytelling and Consumer Experiences Unit. Also, he came up with the idea of using augmented reality and other technologies to add a new dimension to storytelling. Chapek made reference to an eight-minute AR movie that recently went live on Disney+. The CEO commented:

“It could be a really great catalyst for what’s going to come out there and, you know, five to ten years.”

At a pre-market trading of $115.75, Walt Disney stock is up 0.49%. In addition, the company’s stock has gained almost 4% in the last five days.

Business News, News, Technology News
Ibukun Ogundare

Ibukun is a crypto/finance writer interested in passing relevant information, using non-complex words to reach all kinds of audience. Apart from writing, she likes to see movies, cook, and explore restaurants in the city of Lagos, where she resides.

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