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Virtual reality is here to stay — for TV, not just gaming
Michelle Clancy
| 17 May 2016
The consumer virtual reality (VR) market opportunity beyond gaming is beginning to ramp up, according to an Interactive Broadband Consulting Group (IBB) survey, which says that 54% of consumers interested in VR think it’s here to stay.
oculusThe Movies and TV category had about 50% interest in almost all age groups, with no other content category attracting a higher level of widespread appeal. The survey also found that men are more interested in movies and TV, live events, gaming and user-generated VR content, but women are 35% more interested than men in travel-themed VR experiences.
Content providers are getting the message. Time, for instance, is planning an ad-supported over-the-top (OTT) network and VR service that will offer content from its various entertainment media brands.
Less than a third (31%) of people interested in VR have actually tried it, but nonetheless, more than three-quarters (77%) say they are willing to spend on VR gear, with 18% say they’d pay more than $250. Overall, men expressed nearly twice the interest in VR than females, however, this interest balanced out among middle-aged respondents (35-54).
Crucially, 42% said they would watch virtual reality ads in exchange for free content, and 38% would watch ads as long as they are ‘cool and relevant.’ About one third (34%) would not watch ads.
IBB said that overall, the content distribution market is up for grabs with respondents planning to access across Internet video providers (55%), gaming platforms (41%), wireless providers (29%), app stores (28%), cable or satellite providers (26%) and social networks (17%).
“VR is on the radar of almost every mobile, cable and media client we work with and the most frequent question we get is whether this makes sense for their business right now,” said Jefferson Wang, senior partner at IBB Consulting.
IBB Consulting sees an immediate opportunity to reduce the friction points involved with experiencing VR to convert those in the ‘not interested’ camp. The firm advocates that ecosystem players able to leverage a retail presence will have an advantage as they can simplify getting consumers started via in-store demos, existing billing relationships, physical and online distribution, sales staff and post-sale support.
“Initially, IBB predicts that the VR market winners will be companies that can break down the barriers to entry with an end-to-end play,” said Wang.
Michelle Clancy
| 17 May 2016
The consumer virtual reality (VR) market opportunity beyond gaming is beginning to ramp up, according to an Interactive Broadband Consulting Group (IBB) survey, which says that 54% of consumers interested in VR think it’s here to stay.
oculusThe Movies and TV category had about 50% interest in almost all age groups, with no other content category attracting a higher level of widespread appeal. The survey also found that men are more interested in movies and TV, live events, gaming and user-generated VR content, but women are 35% more interested than men in travel-themed VR experiences.
Content providers are getting the message. Time, for instance, is planning an ad-supported over-the-top (OTT) network and VR service that will offer content from its various entertainment media brands.
Less than a third (31%) of people interested in VR have actually tried it, but nonetheless, more than three-quarters (77%) say they are willing to spend on VR gear, with 18% say they’d pay more than $250. Overall, men expressed nearly twice the interest in VR than females, however, this interest balanced out among middle-aged respondents (35-54).
Crucially, 42% said they would watch virtual reality ads in exchange for free content, and 38% would watch ads as long as they are ‘cool and relevant.’ About one third (34%) would not watch ads.
IBB said that overall, the content distribution market is up for grabs with respondents planning to access across Internet video providers (55%), gaming platforms (41%), wireless providers (29%), app stores (28%), cable or satellite providers (26%) and social networks (17%).
“VR is on the radar of almost every mobile, cable and media client we work with and the most frequent question we get is whether this makes sense for their business right now,” said Jefferson Wang, senior partner at IBB Consulting.
IBB Consulting sees an immediate opportunity to reduce the friction points involved with experiencing VR to convert those in the ‘not interested’ camp. The firm advocates that ecosystem players able to leverage a retail presence will have an advantage as they can simplify getting consumers started via in-store demos, existing billing relationships, physical and online distribution, sales staff and post-sale support.
“Initially, IBB predicts that the VR market winners will be companies that can break down the barriers to entry with an end-to-end play,” said Wang.
