Disney Cancels Next Generation Storytelling and Consumer Experience 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

Disney has decided to cancel its “Next Generation Storytelling and Consumer Experience” department, which has been working on a metauniverse strategy as part of the company’s large-scale reorganization. This move is expected to result in the layoff of approximately 7000 employees in the next two months. According to sources familiar with the matter, the department was headed by Mike White, a former executive involved with consumer products at Disney. The department’s objective was to use Disney’s iconic intellectual property rights to generate new technologies for interactive storytelling. Currently, about 50 members of the team are jobless as a result of the decision. The exact nature of Mike White’s future role within Disney is also yet to be disclosed.

The Rise and Fall of Disney’s Next Generation Storytelling and Consumer Experience Department

Disney has always been a trailblazer in terms of storytelling and consumer experience. This has been proven time and again through their immensely popular theme parks and movies, along with their recent entry into the streaming market with Disney+. As part of their growth strategy, Disney created the “Next Generation Storytelling and Consumer Experience” department with the goal of exploring the possibilities of the metauniverse. This strategy has been in the works for a while, and was positioned to be another avenue for consumers to be engaged with Disney’s intellectual property.
Unfortunately, the timing of the coronavirus pandemic changed the company’s outlook. According to reports, Disney’s theme parks, which are one of the company’s primary revenue sources, were hit hard by the pandemic. With a general decrease in consumer spending, the potential growth of the metauniverse strategy no longer made sense to Disney’s bottom line. Therefore, the company decided to take the difficult decision of closing the “Next Generation Storytelling and Consumer Experience” department.

The Significance of Disney’s Metauniverse Strategy

The metauniverse is a term used to refer to a group of virtual worlds that are interconnected. It is envisaged that individuals will be able to interact with each other in these virtual worlds, which will allow them to experience new stories and activities while consuming their favorite products. With Disney’s extensive catalogue of content, it makes sense for the company to consider a metauniverse strategy. The concept offered endless possibilities for immersive storytelling, and Disney was one of the first companies to explore this space.
Unfortunately, with the decision to cancel the “Next Generation Storytelling and Consumer Experience” department, it is apparent that Disney’s metauniverse strategy is no longer a priority. This may be a missed opportunity for the entertainment giant as the metauniverse has significant potential for growth and revenue generation.

The Impact of the Layoffs on Disney Employees

Unfortunately, with the cancellation of the “Next Generation Storytelling and Consumer Experience” department came the significant layoffs of approximately 7000 employees. This is a significant blow to any company and to the individuals affected. It is worth noting that a lot of the workers at this department have worked on projects that have had a profoundly positive impact on Disney’s storytelling and consumer experience proposition. Consequently, this decision is not only one that affects the company’s bottom line but also the personal lives of the people who have lost their jobs.

Conclusion

Disney’s decision to cancel Next Generation Storytelling and Consumer Experience is a reflection of the company’s struggle during the COVID-19 pandemic. They are not the only ones facing challenges as a result of the pandemic as many other companies have had to shelve high-risk projects. The decision to cancel this department is understandable, given the current economic climate, but it may be that Disney is missing out on the opportunity that the metauniverse potentially portrays. Regardless, the layoffs are a significant impact on the people affected, and it is hoped that they can be reabsorbed back into Disney or other relevant industries.

FAQs

1. Could Disney’s metauniverse strategy be revisited in the future?
– There is always a possibility that Disney will revisit the metauniverse strategy when conditions become more favorable to its growth.
2. What’s the future for the unemployed workers from the Next Generation Storytelling and Consumer Experience department?
– It remains unclear what the future holds for these individuals’ careers, but it is hoped that they can find employment in other companies or be reabsorbed back into Disney.
3. Could the cancellation of a department with such goals disorientate Disney’s consumers?
– The cancellation of the department may not have an immediate impact on Disney’s consumers, as the company continues to offer favorite content in various ways.