- The company was founded in 1923.
- Disney has offered characters like Mickey Mouse, Goofy and more.
- Entertainment giant owns franchises like Star Wars, MCU and more.
Media and entertainment sector has kept up with the global trends to stay in the game. From different markets to technology one can easily find a reference of almost anything through a movie or a TV series. Disney (NYSE: DIS) being one of the biggest companies in the space can benefit from the evolving world according to a Reuters Breakingviews prediction. Currently, DIS stock was trading at $88.97 at the publication time.
Disney to Celebrate its 100th Anniversary This Year
The Reuters brand connected the company’s major attraction, Disneyland, with ever evolving metaverse. Disney’s theme parks have played a major part in organization’s success over the years. From kids to adults, everyone loves to see their beloved characters like Goofy or Mickey Mouse coming to life in this world of unparallelled imagination.
The organization, founded in 1923, will celebrate its 100th year anniversary in just 10 months. In 2018, Disneyland accounted for around 40% of the company revenue. With the metaverse development happening at large, they can use the technology to lead their audience to an immersive experience. What would be better than walking down the Titan to see Tony Stark fighting Thanos over a drop of blood.
Undoubtedly the entertainment mammoth has a great potential to walk this ground but behemoths like Meta and Nvidia had an upper hand in the sector. Mark Zuckerberg has already thrown a lot of money in the metaverse development since the company has changed the title in 2021. Though Zuck Bucks is bullish over his vision, constant leaks may harm the organization in future.
According to the data, the industry generated $22.79 Billion in 2021. Experts believe that it can grow at a CAGR of 39.8% between 2022 and 2030 to become a $996 Billion market. Many companies from retail, education, entertainment and more sectors are seeking ways to bloom in the metaverse.
Data shows that retail industry accounts for over 50% of jobs in the US. Many fashion brands like Gucci, Prada and more have already entered the metaverse. Major companies seeing potential in virtual worlds indicates a possible digital twin of the earth where people can conduct their daily life activities, from working to watching movies, in virtual worlds.
An interesting possibility regarding Disneyland remains a metaverse experience similar to Roblox. When virtual spaces become mainstream, the company can provide a “Disneyland metaverse”. Instead of visiting a physical location, users can actually visit a digital world dedicated to a particular franchise like Star Wars, Marvel Cinematic Universe (MCU) and more.
Recently, Disney reinstated Bob Iger as company CEO, replacing Bob Chapek and people at the organization believes it can strengthen the business and control costs.
Source: https://www.thecoinrepublic.com/2023/01/04/how-can-disney-benefit-from-metaverse/