Disney CEO Bob Chapek wants his company to get a piece of the metaverse. He recently appeared on CNBC, where he discussed the company’s lower-than-expected earnings. There, he shared the company’s strategy to right the ship over the long-term.

Chapek says the goal is to double the markets that Disney+ is available in around the world. He also wants to take the company to the metaverse. The streaming service is at the centerpiece of the company’s plans.

“My vision is to use Disney+ as the platform for the metaverse… [It] creates a three-dimensional canvas, if you will, for creative storytellers to paint…”

Disney has already dipped their toes into the concept. Characters from the Star Wars universe have appeared in Fortnite. Square Enix has recent games for “Guardians of the Galaxy” and the Avengers. These properties could form the base for their entry into the gaming side of the metaverse.

There is plenty of content out there for Disney to build their own metaverse. They will compete with established names in the space such as Roblox. Microsoft will also throw their hat into the ring as the concept matures.

Despite the negative news on the company’s earning’s call, Disney+ and ESPN+ have both showed solid growth. The streaming services each grew by more than 60% over the previous year. Disney+ stands at 118.1 million subscribers and ESPN+ boasts 17.1 million.

Can Disney compete in the metaverse? Let us know in the comments!

Michael Perry

Michael Perry is a news contributor for Ringside News and Thirsty for News. Michael has an M.A. in Communication Technology from Point Park University in his hometown of Pittsburgh, PA.

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