Why Virtual Reality Could Generate $150 Billion for Hollywood By 2020

At Facebook’s recent developers conference, CEO Mark Zuckerberg spoke enthusiastically about a virtual reality-filled future. Last year, the company paid $2 billion for VR pioneer Oculus. While photos are the most frequently shared content on Facebook, Zuckerberg sees Virtual Reality/Augmented Reality content taking the lead down the road.

“When you think about virtual reality, a lot of people first think about gaming. But I actually think video is going to be more engaging in a lot of ways,” Zuckerberg said during his keynote address.

…For the 40th anniversary of Saturday Night Live, SNL teamed up with filmmaker Chris Milk to capture the event, using custom built VR cameras.

Milk also recently teamed up with Megan Ellison’s Annapurna Pictures to create a VR unit at the film production company.

“So many people watched that show on television,” Scogin said. “We wanted to capture that moment in history in a way that hasn’t been done before. I feel like this is a record of that night that fans of the show will have for years and years to come.”

NBC is not alone. Other content creators are busy experimenting with VR…

I’ve thought about developing/shooting a project in 360 degrees (the crew would have to be remote), but like everyone else, I’m unsure of its viability beyond a tailor-made for the medium project–well, at least until a MindScans type device becomes available.

What are your thoughts?

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