VR Growth, Opportunities Highlighted at Cannes Film Market

VR Growth, Opportunities Highlighted at Cannes Film Market
One of the biggest conundrums for many working in the fledgling Xr sector is how to make money in the medium.

As part this week’s Cannes Xr program, Jingshu Chen, co-founder of VR entertainment platform VeeR will deliver a keynote that seeks to address the issue.

Beijing-based VeeR distributes, produces and invests in narrative VR content, and also operates the ZeroSpace VR cinema chain in China.

Chen’s July 9 keynote, titled “Cinematic VR content distribution and monetization,” comes at a time when the hype around the medium has well and truly popped.

Reflecting on the growing pains of VR, Chen refers to Gartner’s famed “Hype Cycle for Emerging Technologies.” Deals such Facebook’s 2014 acquisition of Oculus led to a “peak of inflated expectations,” which gave way to a “trough of disillusionment” from 2017 amid sluggish headset sales, tech issues, a lack of content and many VR companies retreating from the sector.
See full article at Variety »

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