John Riccitiello, CEO of game engine company Unity, set a course correction for virtual reality adoption in his keynote address at the Vision VR/AR Summit conference in Hollywood this week. Riccitiello warned, without equivocation, that analyst prognostications suggesting VR will become a $100 billion industry by 2020 “are wrong.” He assured the audience of 1,500 plus developers that VR is a transformative platform that will reap financial rewards in the long run and give birth to great “century companies” like Netflix and Disney. Continue reading Unity Warns VR Forecasters “Wrong,” Sets Course Correction

Augmented Reality is about to get a boost, not from a new set of glasses, but from ear buds. Doppler Labs, via a Kickstarter campaign that raised more than $600,000, has produced Here, live in-ear audio tuners that let the user tweak live audio from the environment or a music event. Each bud has its own microprocessor, and, importantly, there is no latency. Doppler Labs made Here for audiophiles and live music fans, and plans to provide a pair to every Coachella paid attendee, with pre-set filters for every music act. Continue reading Doppler Labs Develops In-Ear Audio Tuners for Live Music, AR

Google’s parent Alphabet finally sailed past Apple as the world’s most valuable company, as shares rose 4.2 percent, to a market capitalization of about $560 billion, compared to Apple’s $539.7 billion. Alphabet posted 14 percent revenue growth in its core Internet businesses, including search, YouTube and Android, rising to $74.54 billion from 2014’s $65.67 billion. Revenue from its “Other Bets,” or moonshots, rose 37 percent to $448 million, up dramatically from the $12 million in revenue reported in 2013. Continue reading Alphabet Tops Apple, Still Growing Core Business, Other Bets

Most conversation about virtual reality and augmented reality focuses on how it will impact gaming and video entertainment. But a recent report from Goldman Sachs upends that notion, with its prediction that VR and AR will instead open up “an entirely new marketplace of applications” for both the business and consumer sectors. The report states that virtual reality hardware will be an $80 billion industry within 10 years, which is actually a slow adoption when compared to that of smartphones and tablets. Continue reading VR/AR Expected to Impact Much More Than Video and Gaming

At the recent Sundance Film Festival, virtual reality was a big hit for the second year running. But the changes in just a year were also evident: rather than the conversation focusing on the technology enabling the VR experiences, the focus was on storytelling. Virtual reality, in other words, has become a medium, as demonstrated in projects such as “Grease” director Randal Kleiser’s sci-fi VR drama “Defrost,” which tells the story of a woman just awaking from a coma. The series is a full season with another in development. Continue reading Sundance 2016: VR’s Coming-of-Age as a Storytelling Medium

While Facebook, Google and Microsoft have already invested significant resources in developing virtual reality and augmented reality, Apple is just getting started. The tech giant acquired an augmented reality startup called Flyby Media, which develops technology for image-recognition on smartphones. Flyby Media previously worked with Google on “Project Tango.” Apple also hired Doug Bowman, an expert in human-computer interaction and immersion in virtual environments. Continue reading Apple Steps Up Its VR Efforts with Acquisition of Flyby Media

Facebook is turning on live streaming video broadcasting to what is potentially a nearly 1 billion-member base. With 934 million customers worldwide, Facebook will offer the live streaming capability first to iPhone users, with a global rollout over the next few weeks. The company has been testing this service with a handful of public figures for the last two months. At the same time, with chief executive Mark Zuckerberg’s strong belief in the future potential of VR, Facebook is making strides in developing a network for it. Continue reading Facebook Launches Live Video, Starts to Develop VR Network

The student-run Business of Entertainment Association (BEA) at the USC Marshall School of Business is producing a day-long conference on virtual reality. The E2 Conference will focus on the business of VR entertainment, highlighting many of the tech innovations related to VR, while addressing the practical applications of VR in studio entertainment. This will be a great opportunity to network with business students exploring careers in media. Warner Bros. is a sponsor, and ETC@USC’s Phil Lelyveld is moderating a panel. Go to the E2 Conference site for more information and to register. E2 is scheduled for Friday, February 19. Continue reading USC: Evolution of Entertainment Conference to Focus on VR

Award-winning filmmakers and video reporters Nonny de la Peña, Sandy Smolan and Ben Solomon, along with ABC News Digital executive Dan Silver, took part in a wide-ranging discussion about immersive journalism at the 2016 Sundance Film Festival this past week. Among the ideas expressed were the importance of choosing the right stories for the virtual reality medium, of telling them with filmic finesse to maintain audience interest, and of designing the role of the on-screen reporter. Noted as on the near horizon for immersive reportage were real-time streaming, interactivity, and live action capture with the aid of videogrammetry. Continue reading Immersive Journalists Talk Real-Time and Long-Form VR News

Facebook finished 2015 with a strong fourth quarter, with sales rising 52 percent from a year ago to $5.84 billion, and profit more than doubling from $701 million to $1.56 billion. The upswing beat Wall Street’s predictions for Q4 of $1.2 billion in profit on $5.37 billion in revenue. Investors rewarded the company by pushing its stock up more than 12 percent in after-hours trading. Responsible for the stupendous upward trend is mobile advertising, which soared to 80 percent of the company’s total ad business in Q4 2015. Continue reading Facebook Profits Skyrocket, Beating Wall Street Expectations

Facebook announced yesterday that it plans to shutter Parse, its toolkit and support platform for mobile developers the company hoped would serve the Internet of Things and lead to a cloud business that could compete with Amazon, Google and Microsoft. Parse provides developers with support and tools that enable programmers to write code rather than spend valuable time maintaining the back end. Users of the platform include developers at productivity app Quip and Expedia’s travel website Orbitz. The social giant paid a reported $85 million to acquire Parse in 2013. Continue reading Facebook Makes Decision to Shutter Services Platform Parse

Visual effects facility Digital Domain, known for its digital work on the “Transformers” series, the “X-Men” series, “Iron Man 3” and “Her,” acquired an 85 percent stake in Hong Kong’s Post Production Company Limited and its parent company for about $17.3 million, with the goal of making a big move into virtual reality. Post Production — which Digital Domain chief executive Daniel Seah calls “the Digital Domain of China” — has worked on many major Chinese movies, TV ads, and music videos. Continue reading Digital Domain Moves into VR with Hong Kong Post Acquisition

Today’s game developers are most interested in creating virtual reality projects for the Oculus Rift headset, according to a new survey from the Game Developers Conference. Nineteen percent of the 2,000 respondents said they were currently working on a new game for the device and 20 percent said their next VR project would be for the Oculus Rift. Only 8 percent of respondents said they were working on VR projects for Samsung’s Gear VR, the second most popular VR headset. Continue reading Oculus Rift the Most Popular VR Platform Among Developers

After coming up empty at last year’s Sundance Film Festival, streaming services Amazon and Netflix made some significant acquisitions at this year’s indie film festival in Utah. Prior to the festival, Netflix spent $5 million for the streaming rights to “Tallulah,” starring Allison Janney and Ellen Page, and almost $7 million for “The Fundamentals of Caring,” starring Paul Rudd and Selena Gomez. Amazon inked a deal for Kenneth Lonergan’s “Manchester by the Sea,” with Kyle Chandler, Casey Affleck and Lucas Hedges. Continue reading Amazon and Netflix Acquire Movies and Visibility at Sundance

Google has released a beta Android app for its Google Expeditions Pioneer Program that allows educators to bring their students on a virtual reality field trip. The VR content includes immersive educational experiences in locations such as Machu Picchu, Mars, the Great Barrier Reef and Buckingham Palace. Students use Google Cardboard headsets to view the content while the teacher can use a tablet to guide their students through the location and monitor where each student is looking. Continue reading Google Expands Access to its Educational VR Field Trip App