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Disney CEO Bob Iger announced today that Disney will invest $1.5 billion in Epic Games to create a new Disney universe resembling a metaverse.
This partnership could significantly enhance Epic Games’ efforts to build an inclusive and interconnected metaverse, an idea that Epic Games CEO Tim Sweeney had been championing for almost a decade.
During an analyst call, Iger emphasized the massive potential of the deal and how it would enable consumers to engage with Disney’s characters and franchises in innovative ways within the world of Fortnite, as well as creating opportunities for additional growth and expansion.
Explaining further, Iger mentioned that the new partnership aimed to tap into younger audiences and their significant time spent on screen-based platforms, particularly playing video games, creating an opportunity for Disney to bring its iconic brands and franchises, including Marvel and Star Wars, into the gaming world.
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In addition, Iger highlighted the positive impact on games revenue made by Marvel’s Spider-Man 2, developed by Sony’s Insomniac Games, and stressed the importance of having strong partnerships to manage creativity effectively.
Analyst Question on Video Game Strategy
When asked about Disney’s shifting video game strategy and the significance of its new collaboration with Epic Games, Iger acknowledged the success of their licensing strategy and expressed confidence in the potential of the gaming market. He emphasized the need for Disney to venture into video games due to the extensive screen time millennials and Gen Z dedicate to gaming, equaling their TV and movie consumption.
Iger emphasized the success of their prior collaboration with Fortnite and also mentioned Tim Sweeney’s vision for creating a world inside Fortnite that integrates Disney’s characters and allows for new forms of interaction, creativity, and even shopping activities.
He concluded that this investment in the partnership with Epic Games aligns with their strategic interests and minimizes risks, paving the way for new forms of consumer engagement that extend beyond gaming into other media channels.
Stay tuned as we cover these developments and more at our upcoming GamesBeat Summit 2024 event on May 20-21 in Los Angeles.
