The Walt Disney Co. said Wednesday, February 7, that it is paying $1.5 billion for a stake in 'Fortnite' maker Epic Games, working with the game developer to create a "games and entertainment universe" that will feature games, shows, and characters from Disney, Pixar, Marvel, Star Wars, Avatar and more.
According to Disney's CEO, Bob Iger, "This marks Disney's biggest entry ever into the world of games and offers significant opportunities for growth and expansion." "Our new relationship with Epic Games will create a transformational games and entertainment universe that integrates Disney’s world‐class storytelling into Epic’s cultural phenomenon," he added, in the company's first-quarter earnings call.
"This marks Disney's biggest entry ever into the world of games and offers significant opportunities for growth and expansion."
The investment was announced in the same earnings call that saw Disney announce that it won the streaming rights to "Taylor Swift | The Eras Tour Concert Film" film for Disney+. It also came on the heels of a blockbuster agreement announced Tuesday between Disney, Fox, and Warner Bros. Discovery for a joint sports streaming platform.
The two companies have already collaborated on "Fortnite" content, including characters drawn from Star Wars and "The Nightmare Before Christmas" and Marvel's "Nexus War with Galactus," which drew more than 15.3 million concurrent players.