Facebook has announced that it is shutting down its Oculus VR film studio, the company is shifting its focus from the in-house Story Studio to working with external content creators. This strategic pivot marks a significant change in how Oculus plans to support and develop virtual reality (VR) content moving forward.
Oculus has said that they are still committed to working on VR film and they will be creating a $50 million fund to fund non-gaming content like movies on the platform. This fund is part of a broader initiative to foster innovation and creativity in the VR space, ensuring that a diverse range of content continues to be developed.
Commitment to VR Content
The decision to close the in-house Story Studio does not signify a retreat from VR content creation. Instead, it represents a shift in strategy. By allocating resources to external creators, Oculus aims to tap into a wider pool of talent and ideas. This approach is expected to lead to a richer and more varied array of VR experiences.
Last year, we committed an additional $250M to fund VR content from developers all over the world. That investment supported games like Robo Recall, Rock Band VR, and Wilson’s Heart, plus powerful VR experiences like Through the Ages from Felix & Paul and the Follow My Lead experience featuring the 2016 NBA finals.
We’re going to carve out $50M from that financial commitment to exclusively fund non-gaming, experiential VR content. This money will go directly to artists to help jumpstart the most innovative and groundbreaking VR ideas.
The $50 million fund is a substantial investment aimed at encouraging the development of non-gaming VR content. This includes not only films but also other forms of experiential content that can leverage the immersive capabilities of VR technology. By supporting artists and creators outside the traditional gaming industry, Oculus hopes to broaden the appeal and application of VR.
Impact on the VR Ecosystem
This move is likely to have a significant impact on the VR ecosystem. By providing financial support to a diverse range of creators, Oculus is fostering an environment where innovative and experimental content can thrive. This could lead to new and unexpected uses for VR technology, expanding its potential beyond gaming and entertainment.
For example, VR has already shown promise in fields such as education, healthcare, and training. With additional funding and support, creators in these areas could develop new applications that make VR an indispensable tool in various professional and personal contexts. Imagine VR experiences that allow medical students to practice surgeries in a risk-free environment or historical recreations that bring ancient civilizations to life for students.
Moreover, this initiative could help address some of the challenges that have hindered the widespread adoption of VR. One of the main barriers has been the lack of compelling content that justifies the investment in VR hardware. By funding a diverse range of projects, Oculus is helping to ensure that there is a steady stream of high-quality content that can attract and retain users.
You can see the full press release from Facebook over at Oculus at the link below.
Source Oculus
Latest Geeky Gadgets Deals
Disclosure: Some of our articles include affiliate links. If you buy something through one of these links, Geeky Gadgets may earn an affiliate commission. Learn about our Disclosure Policy.
