Communications of the ACM
Disney Scraps Metaverse Division As Virtual Worlds Become Yesterday's Tech Fad
Disney has reportedly dropped plans to explore the metaverse, even as the company begins layoffs of roughly 7,000 people.
Credit: AaronP/Bauer-Griffin/GC Images
Disney has eliminated its entire metaverse division of roughly 50 people, according to a new report from the Wall Street Journal. And while most people are still confused about what the "metaverse" is even supposed to be, Disney has reportedly dropped plans to explore it, as the company begins layoffs of roughly 7,000 people across the entire company.
Disney's metaverse team was led by Mike White, who will remain at the company, according to the Wall Street Journal. Disney did not immediately respond to a request for comment late Monday.
Disney's metaverse division, which former CEO Bob Chapek dubbed "next generation storytelling," was created in February 2022 when media companies were convinced Facebook must be on to something. Facebook CEO Mark Zuckerberg announced a bold new plan to focus on the metaverse in October 2021, even changing his company's name to Meta to emphasize his commitment to that vision.
From Forbes
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