Its online children’s social network, Club Penguin, was closed in 2017 a decade after its launch. However, some of Disney’s digital ventures have struggled. Netflix has also reported slowing subscriber growth as the relaxation of lockdown measures renews the appeal of out-of-home entertainment – and forces executives to consider new ways of boosting sign-ups. However, that subscriber total represented a shortfall on market expectations, with analysts anticipating Disney+ would reach 125 million users in its latest results. In the interview, Chapek said he saw it as an extension of Disney+, through the “three-dimensional canvas” he envisions for new types of storytelling, which could involve a cast of characters that ranges from Mickey Mouse to Snow White, Iron Man and Luke Skywalker.ĭisney+, which has 118 million subscribers to Netflix’s 214 million, has already launched a number of hit franchise spin-offs such as Star Wars adventure The Mandalorian and the Avengers series Wandavision. But he indicated in a further interview on CNBC on Wednesday that the company’s Disney+ streaming service would be involved. Speaking during the company’s quarterly corporate results call, Chapek added: “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.”Ĭhapek gave no specific details of Disney’s plans on the results call, in keeping with a concept that is still very much in its early stages across the tech industry. The metaverse concept also includes augmented reality, where elements of the digital world are layered on top of reality, such as the Pokémon Go game, which is played on mobile phones or Facebook’s recent smart glasses tie-up with Ray-Ban.
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