Disney's ambition for the metaverse, according to Chapek, is next-generation storytelling. He intends to harness data gained from theme park visits and customer streaming habits to provide individualized entertainment experiences from the company's Marvel and Lucasfilm studios, among others.

After Meta Platforms Inc CEO Mark Zuckerberg indicated that his company's future will be committed to constructing a robust, three-dimensional, persistent environment, entertainment and technology industries hurried to establish a spot in the metaverse. Chapek, who headed the parks business before taking over as CEO in 2020, has spent years planning how to provide the theme park experience to those who would never visit one of the company's six theme parks across the world.

Movement of Disney stocks in the last five years. (Source: Trading Economics)

Sources:

https://tradingeconomics.com/dis:us

https://crast.net/156984/disney-ceo-lays-out-early-plans-for-digital-future/

https://www.usnews.com/news/top-news/articles/2022-09-11/disney-ceo-lays-out-early-plan-for-digital-future

https://www.reuters.com/business/media-telecom/disney-ceo-lays-out-early-plan-digital-future-2022-09-11/

https://www.investing.com/news/stock-market-news/disney-ceo-lays-out-early-plan-for-digital-future-2889753