Disney has eliminated its storytelling and consumer experiences division that was exploring how the company could enter the metaverse. The unit was made up of around 50 employees who were investigating how Disney could use its existing intellectual property in “the next great storytelling frontier.” The unit had been announced internally in February 2021, and former CEO Bob Chapek appointed Mike White to lead the division. It is not yet clear what experiences the team was working on, but it is thought they could have involved “fantasy sports, theme-park attractions, and other consumer experiences.” It is unknown why the unit was eliminated, and Disney has not commented on the matter. Disney’s decision comes as Facebook, which renamed itself Meta, and other companies struggle to build adoption of their metaverse technology. Meta’s Reality Labs division reported an operating loss of $13.72 billion last year, and its first major VR headset release after the rebrand, the Meta Quest Pro, was poorly received.
In the first round of layoffs, Disney reportedly scraps its metaverse division.
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