Media Giants Pouring Millions into VR

Published by , August 1, 2016 12:57 am

(Investors)  Big media is taking VR seriously. And while other new formats like 3D TV have come and gone, VR looks less like a passing fad and should stick around, according to Piper Jaffray analyst Stan Meyers. “It’s not just going from HDTV to 4K TV,” he said in an interview. “It’s not an incremental change. It’s more a transformational change, so I think (big media is) trying to be at the forefront of innovation.”
Comcast Ventures and Time Warner Investments were among those that contributed to last year’s $30.5 million funding round for NextVR. The live VR broadcaster also recently inked deals with 21st Century Fox’s (FOXA) Fox Sports and Live Nation Entertainment (LYV) as it looks to bring Daytona 500 races and A-list concerts to viewers who can’t make it to those venues in person. Last summer, Disney led a $65 million round of funding in Jaunt, a maker of cinematic VR recording equipment that also has an interest in content distribution. The startup’s goal is to deliver VR to paying customers.

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