Foreign media: As part of the layoff plan, Disney will cancel its metauniverse department

According to reports, a person familiar with the matter said that Disney has canceled its “Next Generation Storytelling and Consumer Experience” department, which is developing a metauniverse strategy as part of the company’s large-scale restructuring. It is expected that the company will lay off about 7000 employees in the next two months. According to people familiar with the matter, the department is led by Mike White, a former consumer product executive at Disney. The department is responsible for using Disney’s rich intellectual property rights to find ways to tell interactive stories in the form of new technologies. Currently, about 50 members of the team are all unemployed. White will remain with the company, but his new role is unclear.

Foreign media: As part of the layoff plan, Disney will cancel its metauniverse department

I. Introduction
– Brief explanation of the incident
– Importance of the cancellation of the “Next Generation Storytelling and Consumer Experience” department
II. Background
– Overview of metauniverse
– Explanation of the department’s efforts to develop metauniverse strategy
– The role of Mike White in the department
III. Reasons for Cancellation
– Disney’s large-scale restructuring
– Financial issues caused by the COVID-19 pandemic
– Need for more focus on streaming services
IV. Impact of Cancellation
– Effects on Disney’s future plans
– Effects on the employees
– Comparison between Disney and other companies’ metauniverse strategies
V. Conclusion
– Effects of the cancelation of the “Next Generation Storytelling and Consumer Experience” department
VI. FAQs
– What is metauniverse?
– How will the cancellation of the department affect Disney’s future plans?
– Is the cancellation of the department a result of the pandemic?
# Disney Cancels Its “Next Generation Storytelling and Consumer Experience” Department
Disney, one of the world’s largest entertainment companies, has recently canceled its “Next Generation Storytelling and Consumer Experience” department. According to sources, the department was responsible for developing a metauniverse strategy using Disney’s rich intellectual property rights to tell interactive stories through new technologies. Mike White, a former consumer product executive at Disney, led the team of about 50.
The cancellation of the department is a part of Disney’s large-scale restructuring, which is expected to result in the layoff of about 7000 employees in the next two months. While White will remain with the company, his new role is yet to be determined.

Background

The metauniverse is a virtual space where people can interact with each other through avatars, which are digital representations of themselves. It is a combination of virtual reality, augmented reality, and other immersive technologies. Many technology companies, including Facebook and Microsoft, are investing in the metauniverse as the next frontier in the digital world.
Disney’s “Next Generation Storytelling and Consumer Experience” department was responsible for finding ways to use Disney’s rich intellectual property rights to create interactive stories and experiences in the metauniverse. This was a part of Disney’s efforts to expand beyond traditional media and entertainment and cater to the changing preferences of audiences.
Mike White, the former head of the department, has been with Disney for over 20 years and has experience in various roles. He was responsible for leading the team in developing the metauniverse strategy and turning Disney’s intellectual property into immersive experiences for audiences.

Reasons for Cancellation

Disney’s large-scale restructuring is the primary reason for the cancellation of the department. The COVID-19 pandemic has caused financial issues for Disney, forcing the company to make tough decisions about its business priorities. While the department’s work was important, the company’s focus has shifted to streaming services such as Disney+ and Hulu.
As Disney focuses more on its streaming services, the need for the “Next Generation Storytelling and Consumer Experience” department has decreased. The company can use its existing intellectual property to create new content for these services without investing in new technologies.

Impact of Cancellation

The cancellation of the department is a significant setback for Disney’s efforts to expand beyond traditional media and entertainment. The company’s metauniverse strategy was seen as a potential game-changer in the industry, and the cancellation means that Disney will not be among the first companies to enter the metauniverse.
The cancellation of the department also has an impact on the employees. About 50 members of the team are now unemployed, and finding new jobs in the midst of the pandemic will be challenging. The cancellation of the department also sends a signal to other employees that Disney may not be investing as heavily in new technologies and experiences as it once was.
Comparisons can be drawn between Disney and other companies’ metauniverse strategies. For example, Facebook has made significant investments in virtual reality and is working on its own metauniverse platform, Horizon Workrooms. Disney’s cancellation of its metauniverse strategy puts it behind other companies that are investing in this area.

Conclusion

Disney’s cancellation of the “Next Generation Storytelling and Consumer Experience” department is a significant setback for the company. While the restructuring is necessary to focus on the company’s primary priorities, it means that Disney will not be among the first companies to enter the metauniverse. It also sends a negative signal to other employees and investors about the company’s investments in new technologies.

FAQs

Q: What is the metauniverse?
A: The metauniverse is a virtual space where people can interact with each other through avatars, which are digital representations of themselves. It is a combination of virtual reality, augmented reality, and other immersive technologies.
Q: How will the cancellation of the department affect Disney’s future plans?
A: Disney’s cancellation of the metauniverse strategy puts it behind other companies that are investing in this area. It means that Disney will not be among the first companies to enter the metauniverse.
Q: Is the cancellation of the department a result of the pandemic?
A: The COVID-19 pandemic has caused financial issues for Disney, forcing the company to make tough decisions about its business priorities. While the department’s work was important, the company’s focus has shifted to streaming services such as Disney+ and Hulu.