HomeTech NewsThe Metaverse is leaking: Disney eliminates its division in the first round...

The Metaverse is leaking: Disney eliminates its division in the first round of layoffs

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It is an open secret that the Metaverse concept is not working well at all. No matter how much money Meta has invested, and although other companies have decided to join this adventure, everything indicates that it will not end very well. And we have a new example in disney, the entertainment giant. Mainly because the house of the blue mouse has pulled out the scissors to save costs, and the first division to disappear is precisely the storytelling and consumer experiences division, in charge of managing the Disney Metaverse. As reported from The Verge, the company wanted to access the metaverse through this division, but they have finally abandoned the project, Goodbye to the Disney metaverse. From what they indicate in the aforementioned publication, this division had 50 employees, and now Disney is thinking about how to take advantage of the material they had created for the Disney metaverse, which will ultimately not see the light of day. “Today, we have the opportunity to connect those universes and create a whole new paradigm for how audiences experience and interact with our stories… This is the so-called metaverse.” They announced at the time, but the project has fallen due to the clear lack of interest on the part of the user. According to published reports, Disney plans to make three rounds of planned layoffs that will affect 7,000 employees to cut around $5.5 billion in costs. And the reason for this cut has a lot to do with Disney +. The content streaming platform is fighting with Netflix to position itself as the most used service. And with a difference of 7 years between both platforms, the merit is double. The problem is that Disney+’s maintenance costs are colossal, and the attractive rates that were offered at the beginning have helped to increase the customer base in record time, already exceeding 140 million customers. But they could not maintain the service, so they are preparing a new price increase, the arrival of Disney + with announcements in more countries, and three rounds of layoffs. Unfortunately, it is becoming clearer every day that the future of the Metaverse hangs in the balance. Despite Meta’s push to keep this concept in the running, more and more companies are getting off the boat. And the fact that Disney was the next to abandon this project makes it clear that the future of the Metaverse is increasingly black. >

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