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Making a Virtue of the Virtual By Phil Sandberg
Spurred on by financial interests, technology developers, conference organisers and, yes, trade press, the industry was subject to a succession of technological panaceas which would not only transform the media business, but safeguard it into the future.
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Now it is the turn of Virtual Reality (VR). For this year’s IBC, some 44 companies are spruiking solutions for VR production and/or delivery. NAB2016, by contrast, had four. 16:00
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Media asset management, mobile TV, digital signage, 3DTV, they were all going to transform the industry and propel it onto a new golden age.
Mischievously, one could say that virtual reality is attracting virtual wealth. Investment bankers are circling the emerging sector. Taiwan-based smartphone developer, HTC, recently joined with 30 venture capital funds to form the Virtual Reality Venture Capital Alliance. With a potential investment pot in excess of USD$10 billion, the purpose of the Alliance is to foster longterm growth in the VR industry through identifying, sharing and investing in innovative VR technology and content companies. Of course, the focus will be on the potential of a number of industry verticals, not just entertainment, but a roadmap for its adoption is already available by looking at the now-stalled area of 3DTV.
The same issues which plagued the adoption of 3DTV are likely to also challenge the roll-out of Virtual Reality, but can be boiled down into a dependence upon the adoption of a whole new technology chain for both creators and consumers - for which there is an uncertain return. Augmented reality, like 4K or HDR television, is able to leverage existing platforms and investments (with some level of customisation), but it doesn’t need to reinvent the wheel. There are existing devices, delivery networks and audiences. The bespoke quotient of the whole process is far less than that of VR. 03:00
For much of the last two decades, technological change and seismic shifts in the economy have left the entertainment and media industries fumbling for a magic tonic to the ills of shrinking returns, audience fragmentation and the rise of new forms of media.
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But, can the same be said of Virtual Reality?
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Still, at an estimated 30 million current users the craze still has a way to run and has seemingly permeated all levels of society. A Norwegian parliamentarian was recently caught playing the game during a military briefing. In her defence, she said she listened better when she was doing “brain dead” activities. Aside from showing that Norway is another oil-rich nation ripe for invasion, the incident demonstrates the advantage Augmented Reality has in its low barrier to participation.
3DTV was notably thin on the ground at this year’s CES show in Las Vegas. Receiver manufacturer Samsung did not include 3D in any of its 2016 announcements while LG has retained 3D in only its higher-end models. The moves follow the suspension of 3D programming by the BBC in 2013 due to a lack of uptake, the closure of ESPN 3D in the U.S. due to a lack of demand, the shuttering of Xfinity 3D and all DirecTV 3D programming in 2014, and the closure of Sky UK’s 3D channel in 2015.
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SINCE OUR LAST ISSUE, the Pokémon Go phenomenon has, after an initial spike of 45 million users, started to settle down as novelty wears off, real life starts to intrude again and other sources of eyeball distraction such as Olympics broadcasts have come to the fore.
Still, the Australian Government injected AUD$10.4 billion into the country’s economy to stave off the effects of the Global Financial Crisis, so a US$10 billion Virtual Reality fund should be enough to pump-prime the sector. Time, as they say, will tell.
Thanks for Reading Phil Sandberg - Editor/Publisherpapers@broadcastpapers.com T: +61-(0)414671811
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