At this year’s Sundance Film Festival’s New Frontier, VR financing/distribution company CityLights purchased “Spheres: Songs of Spacetime,” a three-part virtual reality series that explores the depth of space. The exact purchase price was not revealed, but it is reportedly in the seven figures, and is being hailed as the first VR film to be acquired for such an amount. The series, presented by Oculus Studios and Protozoa Pictures, and directed by Eliza McNitt, is slated for release on the Oculus Rift sometime this year. Continue reading VR Series ‘Spheres’ Sells for Seven Figures at Sundance Fest

Virtual reality has been on a major roll … at least until this year. When Oculus executives sold their startup to Facebook in 2014 for about $3 billion, VR was riding high. The purchase prompted tech giants such as Google and Microsoft to speed up their VR headset development, and sparked a wave of investments and new startups. But this year, interest in VR has arguably slumped, as some consumers seem to have grown disappointed. Oculus has not helped the sentiment, since it has not revealed any official figures about Rift sales, but still very much believes in the technology’s potential. Continue reading Oculus Recognizes Virtual Reality Hype, Defends its Potential

At the Oculus Connect 2 developers conference, the company, now a unit of Facebook, focused on its efforts to increase the amount of content available for VR headsets, several of which are slated for launch in early 2016. That’s because a dearth of content is seen as a stumbling block to consumer adoption of VR when it becomes widely available. The conference unveiled newly inked deals for streaming movies and TV shows from Netflix, the popular “Minecraft” game and movies including “The Hunger Game” series. Continue reading Oculus Conference Puts Spotlight on Virtual Reality Content