Disney to Invest $1.5 Billion in Epic Games
Disney announced in an earnings call that it will invest $1.5 billion in a partnership with Epic Games, the creators of Fortnite. This move caused an early boost in Disney’s stock. CEO Bob Iger referred to this agreement as Disney’s “biggest entry into video games.” Recognizing the wide demographic and the significant amount of time consumers spend playing video games, Iger emphasized the importance of Disney’s presence in this industry.
Expanding the Partnership
The partnership with Epic Games will allow consumers to play and create games using content and characters from Disney, Pixar, Marvel, Star Wars, Avatar, and more. This collaboration aims to provide a compelling gaming experience for players.
Other Announcements
During the Disney earnings call, several other announcements were made. The concert film “The Eras Tour (Taylor’s Version)” will exclusively debut on Disney+ on March 15. The film will feature the song “cardigan” and four additional acoustic songs that were not included in the original release. Additionally, Disney plans to release a theatrical sequel to the highly streamed movie “Moana” in November. Originally developed as a series, the decision for a theatrical release was based on the impressive quality of the project.
Creating a One-Stop Shop for Online Sports
Disney’s ESPN, FOX, and Warner Bros. Discovery are collaborating to create a comprehensive online sports platform. This platform will include popular sports leagues such as the NFL, NBA, WNBA, NASCAR, college sports, and Grand Slam Tennis. NPR’s Eric Deggans compares this initiative to the creation of Hulu in 2007, as it allows these companies to control the migration of live sports to streaming platforms. This move will help them compete with giants like Amazon and Netflix.