After the much-publicized failure of Google Glass, a clunky version of smart glasses, some thought that virtual reality (VR) was in danger. However, this could not be further from the truth. Google just hasn’t found the right formula.
The global VR market is actually quite strong and is expected to grow at a compound annual growth rate (CAGR) of 81% through 2024. That means big business for the companies that use it. VR is having an impact on entertainment, social media, mobile devices and search engines. It’s also changing the way people buy and use the products they love.
At NextThought Studios, we’re leading the charge to create 100% user-friendly VR and immersive video. We are the company behind more than 5,000 videos for global giants like The History Channel.
The 360-degree experience
How do people experience 360-degree videos? In a variety of formats.
You can use the $199 Oculus Go or a more expensive mixed reality headset with windows (WMR). You can watch the widescreen version of VR in a theater or watch the small-screen version on YouTube with your iPhone.
VR is starting to merge with video production and presentation. Around the world, it’s changing the way people think about art, nature, sports, travel and more:
AMC is promoting its new series “Terror” as a 360° video encounter on TV and online.
Fans of Netflix’s Stranger Things series can take a tour of Will Byers’ entire house.
Documentary filmmakers such as Reframe Iran use 360° footage to explore secret, historic and changing locations.
Some NASA launches are now shown in 360°.
Sports fans can re-watch great sports moments in 360° close-ups.
You can even take an extended vacation with a dive, a trip to Hawaii or a National Geographic lion safari.
This is great news for marketers who can use 360 and VR video to stand out from the competition and attract new audiences.
Every viewer is an explorer
One of the most interesting aspects of 360 video is that they put the person – you – at the center of every experience. Instead of looking at something as an outside observer, you become part of the story.
Imagine what that could mean for a company and its products.
Fans can see behind the scenes of the process and get a comprehensive look from the inside.
See the assembly line from the perspective of the product being assembled.
Visit a hotel, resort, restaurant, home for sale or event venue.
Full access to the event, including indoor areas and stages.
An immersive day in the life of a celebrity or CEO.
An in-depth tour of the facility’s interior, perfect for music and technology classes.
A bird’s eye view or alternate perspective – construction, demolition, fans, crowds.
Video, VR and beyond .
Indeed, if you can dream it, NextThought Studios can bring it to life: Animation, interactivity, drones, remote terrain, timelapses, documentaries, commercials – anything from a quick YouTube lesson to a movie theater shoot.
Regardless of the topic, 360 and VR videos put viewers at the center of the action. It allows for an immersive experience that people can’t find anywhere else.
Virtual experience, real income
I wonder if VR offers a real return on investment. Next Thought videos offer great benefits for businesses that use them.
Improve sales performance.
Support special promotions.
Promote retention of information.
Strengthen brand image.
Build B2B relationships.
Train employees, including remote workers
Create buzz and share value online.
Get attention on social media.
Be perceived as an innovative industry leader