The metaverse is fast becoming big business and now one of the biggest companies in the world is embracing it in a big way.
Disney has created a new executive position specifically centred around its plans for the metaverse.
Mike White, who has been with the entertainment giant for 10 years, will now be the face of the new business model.
His new official title is Senior Vice President for Next Generation Storytelling and Consumer Experiences (quite a mouthful of a job title!)
His role will include exploring metaverse-related partnerships and leading a team with skills based in technology, strategy and storytelling.
Disney’s Chief Executive Bob Chapek sent a memo to staff (which was seen by the BBC) recently explaining why he believes the new position is so important.
Describing the metaverse as “the next great storytelling frontier”, he said “it’s the perfect place to pursue our strategic pillars of storytelling excellence, innovation, and audience focus”.
“Teams across the company are exploring this new canvas, and I have been blown away by what I’ve seen,” he said.
“Today, we have an opportunity to connect those universes and create an entirely new paradigm for how audiences experience and engage with our stories.”
This news comes off the back of Disney reporting big post-lockdown successes.
Sales at Disney’s US theme parks have now risen above pre-pandemic levels and the Disney+ streaming service gained 11.8 million subscribers in the last few months of 2021 alone.
There are now almost 130 million Disney+ subscribers across the globe.
Perhaps the metaverse will be the next phase of this incredible growth. Disney certainly thinks so.