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The Walt Disney Company announced investing $1.5 billion in an equity stake in Epic Games. This will allow mass media and entertainment firms to create new games with video game developers and publishers.
Disney Bets Big in Gaming Business
As per CNBC, Disney’s chief executive officer, Bob Iger, personally announced its investment in Epic Games on Wednesday, Feb. 7. This deal is the company’s biggest bet on the gaming sector.
“This investment is probably our biggest foray into the game space ever,” the Disney CEO told CNBC’s Julia Boorstinsaid in an interview.
The team-up comes after the company enjoyed success in licensing its popular characters like Spider-Man for video games. It already collaborated with Epic Games in the past, which led to Star Wars, Marvel, “Tron,” and “The Nightmare Before Christmas” characters making their appearances on the famous “Fortnite” online video game.
Open Games and Entertainment Universe Plans
Through the latest partnership agreement and funding, Disney will work with Epic Games’ Fortnite development studio to produce new game titles. They will also create an entertainment universe where users can play, shop, and watch.
On the platform, people may also engage with content they like and characters from Disney, Marvel, Pixar, and more.
“Our exciting new relationship with Epic Games will bring together Disney’s beloved brands and franchises with the hugely popular Fortnite in a transformational new games and entertainment universe,” The Walt Disney Company’s CEO Robert A. Iger said in a press release. “This marks Disney’s biggest entry ever into the world of games and offers significant opportunities for growth and expansion. We cannot wait for fans to experience the Disney stories and worlds they love in groundbreaking new ways.”
The Walt Disney Company and Epic Games will join forces to make all-new games and social entertainment platforms that offer unique experiences with Disney characters and stories. The partners will venture into multiyear projects alongside acquiring an equity stake in Epic Games.
Photo by: The Walt Disney Company Press Release
