Disney invests $1.5 billion in Fortnite maker Epic Games to create persistent gaming universe

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Disney East invest $1.5 billion For A equity bet In Fortnite And Unreal Engine maker Epic Games as part of A wider Partnership has create A new Disney game universe.

THE companies plan has create A expansive And open Games And entertainment universe. I would be say they are building A metaverse, if THE word were not SO overused late And out of service with a few. They doesn't In fact to use that word.

Bob Iger, CEO of Disney, announcement THE investment In A interview with CNBC Today. THE companies will collaborate on A new Games And entertainment universe that will further develop THE reach of beloved Disney stories And experiences. He will be A multi-year project, built by Epic Games.

"It is not just OUR parks Or were create new opportunities For consumers has to commit with THE characters And franchise they love," Iger said In A analyst call. In OUR new relationship with Epic Games, were create A transformational Games And entertainment universe that integrated Disney world class narration In Epic cultural phenomenon Fortnite, allow consumers has play, watch, create, And shop For both digital And physical goods. This Brands Disney the biggest entrance Never In THE world of video Games, And offers significant opportunities For growth And expansion. THE new immersive universe will release their own creativity And experience THE Disney stories that they love In revolutionary new manners. »

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Iger added, "Younger public In particular are huge consumers of video Games. In do, among millennials, Gen. Z And Gen. Z East A significant Rising of time spent on on screen platforms, playing video Games. This new universe Since Disney And Epic provides We with A tremendous opportunity has not only meet more consumers Or they are And has allow more public has cultivate A bind with Disney iconic brands And franchises, including Wonder, Star The wars, And a lot more. »

THE $1.5 billion transaction is subject has customary closing terms, including regulatory approvals.In addition has be A world class Games experience And interoperant with Fortnite, THE new persistent universe will offer A multitude of opportunities For consumers has play, watch, shop And to commit with content, characters And stories Since Disney, Pixar, Wonder, Star The wars, Avatar And more.

THE move In these metaverse-like experiences East interesting as Disney had A metaverse division but farm he And laid disabled THE 50 people implied. Observers sharp has that March 2023 move as evidence that THE metaverse was fall out of service. He turns out that was maybe A kind of feint, as Disney obviously remains engaged has bringing all of It is properties together In A kind of metaverse.

In the meantime, Tim Sweeney, CEO of Epic Games, has has been A of THE