The Walt Disney Co. (DIS, Financial) has always been at the forefront of the entertainment industry. It is now working extensively on a digital strategy that will help drive the future of storytelling.
The media and entertainment giant has been investing in technology for many years and is currently focused on creating new experiences that are interactive, immersive and personal. Disney also uses data to create more targeted content on its digital platforms. The company strives to create the best possible experience for its audience, and its digital strategy will help it continue to lead the entertainment industry.
CEO Bob Chapek has said he wants to leverage the latest technology trends to ensure Disney offers services no one else can. For example, ge would like to use data from consumers’ theme park visits and streaming habits to provide personalized entertainment experiences.
The latest sign that Disney is looking to disrupt the industry was the appointment of veteran media and technology executive Mike White to lead its newly created Next Generation storytelling unit. In this new position, White will be responsible for exploring all forms of future storytelling opportunities across multiple platforms.
In recent years, the focus on data capture and augmented reality, as well as new forms of entertainment, has infused Disney’s existing product lines, most notably Disney+. It has grown into one of the strongest streaming companies in the world, largely due to the company’s commitment to innovation. By continuing to invest in new technology and ideas, Disney ensures that its product remains at the forefront of the entertainment industry for years to come.
Disney unveils an aggressive plan for a digital future
The Covid-19 pandemic dealt Disney a major blow, but the company responded by adjusting its operations to the new normal. The streaming service, in particular, has been a huge hit with families as the pandemic has forced everyone to spend more time indoors. Disney+ is now the largest streaming service provider in the world, beating Netflix Inc. (NFLX, Financial) with 221.1 million streaming subscriptions worldwide across its streaming offerings in the June 2022 quarter.
Many companies would be happy with this situation. However, we are talking about Disney here. It will never be satisfied with its performance.
From its early experiments in animation to its computer-generated imagery in blockbuster films, Disney has long been at the forefront of cutting-edge technology. The company is now working intensively on integrating augmented reality into its products. It has already developed mobile apps that allow users to see virtual characters and objects in their real environment. Next generation storytelling is part of this strategy. The company also plans to bring augmented reality to its theme parks so visitors can interact with Disney characters in new and innovative ways.
However, Disney+ is the largest area that will be impacted by these digital initiatives. Although the streaming network has been incredibly popular and successful since its inception, it’s still struggling to turn a profit. But strong growth in total subscribers has helped keep Disney’s stock prices high despite the pandemic, inflation, and supply chain woes.
Disney is also increasing the prices of its streaming services. Ad-free Disney+ subscription increases to $10.99 per month from $7.99 per month, while Hulu’s monthly fee for ad-free streaming also increases to $14.99. The ad-supported version of Hulu will go from $6.99 per month to $7.99 per month, while the ad-supported version of Disney+ will cost $7.99 per month when it launches on December 8th.
If the subscriber base stays sticky, Disney+ will easily become profitable. In the long run, however, keeping consumers on the platform is crucial. Netflix has encountered this problem and is suffering quarterly subscriber declines for the first time in its history. Disney could avoid this situation by investing in storytelling elements and new technologies. She is now trying to do this with interactive units and augmented reality. As a prime example, Disney+ released an augmented reality short, Remembering, starring Brie Larson. This could be a promising indicator of what’s to come.
Disney has always been known for its ability to stay ahead of the curve. In recent years, the company has once again taken a leadership role in augmented reality, as its streaming service allows users to experience Disney content in a whole new way.
By incorporating augmented reality into its content, Disney is able to deliver an immersive and interactive experience that is second to none. Disney+ is not only a leader in augmented reality, but also one of the most successful streaming services in terms of revenue generation. With its large catalog of popular movies and TV shows, it has quickly become one of the most popular streaming services available.
Disney+ will continue to grow as the company invests heavily in augmented reality-based storytelling and data analytics to create custom content. So far, the substantial growth in the number of subscriptions for the streaming service suggests that the growth story is going nowhere. With more people getting interested in streaming services, Disney+ is well-positioned to capture a large chunk of the market. The company’s investment in technology and content will allow it to create unique and engaging experiences that will keep subscribers coming back for more. All of this will also translate into strong returns for its investors.