Image via NextVR
Virtual reality and augmented reality have captured sports headlines — big and small — throughout the entire calendar year. Every week, it seems as though a new league is distributing virtual reality content, the technology is being leveraged in a unique way or a dedicated VR app is launched to further engage fans or an exclusive VR channel debuts.
At Sportel Monaco in late October, a handful of executives discussed the current state of VR and AR, monetizing content, programming consistency and where the industry is headed.
Below are a few key takeaways and quotes from the industry event.
Adam Blazer, Founder/CEO, Livit Media Inc. on the current state of VR … “It’s like the very early stages of HD. Production companies and design companies are taking those risks now, calculated risks on virtual reality and 360 video providing some sort of consumer experience that is going to be different. I don’t want to use the term better but different and certainly more immersive. So, you’ve seen a lot of people take these calculated risks and experimenting with different production environments using the technology.
“It has been a work in progress for a decade. Virtual reality is only now becoming pop culture. The thing that catapulted so much of the industry’s growth over the last couple of years is Facebook’s acquisition of Oculus. That was a symbol to a lot of other companies and to consumers that virtual reality is now something that is going to be taken very seriously. It is very, very early. A lot of the content and the hardware that you see out there — which there still isn’t a lot — is kind of amateurish and new. A lot of the companies who are producing and putting product out there right now … You’ll go to them a week or two later, and they’ve done something completely different and beautiful and amazing. It’s a quickly evolving but still very young industry.”
Ken Fuchs, CEO, STATS LLC on consistent VR programming: “I think the tricky thing is leagues are always trying to parse their rights. Are they willing to do experiments and work with third parties in more of an open way? Some leagues are more progressive than others in that respect. Ultimately, it will come down to how are they going to advance that technology to a place where they can monetize it and license it out in a manner that doesn’t cannibalize the existing experience, which is a very, very good revenue model.”
Fuchs on VR having a very clear user proposition: “It’s going to take somebody to break through to really understand what is that user experience where I’m OK being alone or experiencing something completely virtually. Why am I doing that versus turning on the television and watching an 80-inch screen? Is it enough to be 360 video? … Going from where it is today to a true penetration rate will take a little bit of time and creativity on what the value is ultimately going to be for consumers from an entertainment standpoint.”
Fuchs on the NBA leveraging the new technology: “I think the NBA is an interesting one because they’re a global sport with fans all over the world who will never get to a NBA stadium. If they can give them that immersive experience, as hardware costs come down, they’re committed to it. … To me it’s, how do you grow a global brand and create value in other regions of the world? That’s certainly one way to engage fans in a unique way.”
Fuchs on the future of virtual reality: “I think one of the places where you’ll start to see it accelerate is actually not in the media, consumer space but in education, training, even sports is a great example. From a data perspective, you’re capturing all of this information. You can actually simulate almost every game scenario and understand the expectation of what’s about to happen. When you think about 16, 17, 18, 22-year-old guys or women and how they actually consume media. They grew up with video games. They grew up with a kind of immersive environment. … They can start to learn their playbook in terms of whatever sport they’re playing, playing style and prepare. They will have access to some of the higher-end devices, hardware and software through team budgets. They’ll get used to that experience. As you do that, I think you’ll see it proliferate in other places.”
