Two years ago, virtual reality took the world by storm. In 2017, it was time for augmented reality.
TechRepublic's Dan Patterson met with Kaleidoscope CEO René Pinnell to discuss what the future holds for these two technologies.
In the last year, VR for art and entertainment has started to become profitable, unlike in the past. "That's going to be the engine that really drives the industry to a point where it reaches a much larger audience," Pinnell said.
Organizations of all sizes are using AR and VR to create new content — from major film studios to independent, low budget artists. However Pinnell believes microstudios, or studios with five to 10 employees, are in a sweet spot for creating content using these new technologies. "You can produce content at a low enough price point, where you can turn that profit," he said.
Most of the money in VR and AR is being driven by gaming. "What we're starting to see of a lot of projects that are made with some of the same tools as games...and have some of the mechanics of games, but they're not quite games," he said. They're interactive, narrative experiences that are a new genre.
If you're a company that's wanting to make money in this space: focus on budgets that are between $100,000 and $1 million, focus on content that is real-time interactive, and focus on longer run times. "In general we see the industry moving toward longer, deeper, richer experiences," he said.
- CES 2018: AR and VR are finally entering the office (TechRepublic)
- 10 things brands should know about virtual reality (TechRepublic)
- Free ebook: Executive's guide to the business value of VR and AR (TechRepublic)
- Five tips for creating virtual reality product demos (ZDNet)
- Virtual and augmented reality policy (Tech Pro Research)
Leah Brown has nothing to disclose. She does not hold investments in the technology companies she cover.
Leah Brown is the Associate Social Media Editor for TechRepublic. She manages and develops social strategies for TechRepublic and Tech Pro Research.