What is all this Virtual Reality stuff anyway? No, it’s not some futuristic pipe dream of 14-year-old boys playing video games in mom’s basement (although it probably started out that way, to be honest.) Virtual Reality is leading edge technology that allows viewers to see, feel, and experience video content in a fully immersive environment. And it’s here to stay!
What Is Virtual Reality And Why Should You Care?
- VR is cutting edge technology that allows the consumer to be immersed in the environment he is viewing
- VR content can be viewed through any number of devices – Oculus Rift, HTC Vive, and Google Daydream to name a few
- VR provides an entirely new experience that cannot be obtained any other way
- VR is an $11 Billion industry and is projected to be a $213 Billion industry by 2020 (that’s why you should care)
- Many national and international brands (Coca-cola, National Geographic, Volvo, Honda, and Chick-Fil-A to name a few) are already using VR in their advertising platforms (another reason to care)
- The largest companies in the world are heavily investing in Virtual Reality technology (Intel, Facebook, Google, the NBA, etc.)
- The market is wide open for quality VR content creators and brands are paying big bucks for that content (perhaps the biggest reason you should care!)
Virtual Reality is video and photography filmed in 3D and 360-degree footage. Blah, blah, blah…. What exactly does that mean?? VR is a completely immersive type of video and photography. It means that the consumer of VR content is “surrounded” by the video. He is “in” the video. He is fully experiencing the video as if here were there. Really there! It’s powerful stuff.
Although many think of video games when they think of Virtual Reality, gaming is actually one of the smallest pieces of the pie when it comes to VR. Healthcare, the military, education, and sports actually top the list of Virtual Reality applications, with travel and real estate making a strong showing. Fashion and construction are ramping up VR use, as well. In fact, nearly all industries are touched directly or indirectly by VR. And the movement has real momentum. Everyone wants to be on the leading edge.
Who Is Spending Money On Virtual Reality?
Facebook spent $2 Billion to acquire Oculus a couple of years ago and plans to spend another $3 Billion in the near future to advance VR technology. Intel and Turner have joined forces to spend an undisclosed amount (certain to be an extraordinary amount) of money to bring the NBA to fans in Virtual Reality all across the world. Disney recently invested $65 Million in Jaunt VR to support VR development. And the list goes on and on… and on…. and on. It will continue to grow, as will the money spent and revenue generated in the Virtual Reality space. Here are just a few of the big hitters investing in VR development or advertising:
- Bank of America
- National Parks
- USA Today
- Huffington Post
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These companies are heavily investing now. Not in the future, but now. And they all need quality Virtual Reality content creators. The list of brands wanting VR video is nearly endless. (I used this episode of The Spicy Apron Cooking Show – filmed in VR and available on YouTube – to highlight some of my favorite products. Instant Pot was very excited about the content and is looking for more! Video is embedded below but you need to watch it on the YouTube app to fully experience the VR content. If you are seeing double, that means you’re on an Apple device and are not in the actual YouTube app. Apple is a little behind the technology on this one! )
Yes, my friends, Virtual Reality is here! It’s here to stay. Companies, brands, and advertisers are all over it. They want it. They know they need it. And they’re willing to pay for it. Sign up for the email list (above) to keep informed on how you can bring this content to your readers, viewers, clients, and customers. (Don’t worry… I hate spam as much as you do, so you’ll only get relevant emails from me. I never, ever, sell names from my email list!) Happy creating!