The 45+ year-old IMAX is now setting its sights on virtual reality, with the company’s chief executive Richard Gelfond seeing VR as the future of movies. In fact, IMAX is hoping to lead the charge into this new medium for storytelling, investing $50 million into VR content. The plan is to finance more than 25 VR experiences in the next three years; the company is already in discussions with directors and studios. IMAX also inked a deal with Google to build a new and improved VR camera, which it plans to unveil in 2018. Continue reading IMAX Plans to Create Big Screen Immersive VR Experiences

Nokia just debuted OZO, its $60,000 virtual reality camera and the first hardware product the company has made since it sold its mobile phone business to Microsoft in 2014. OZO was productized by Dolby Laboratories veteran Ramzi Haidamus, hired by Nokia in July 2014 to figure out the future of its hardware division. When Haidamus saw an early prototype of the virtual reality camera, he says, he was sold on the idea of developing it. He declined to say how many OZOs Nokia has sold thus far. Continue reading Nokia Reimagines Hardware with OZO Virtual Reality Camera

LucidCam successfully raised $100,000 on Indiegogo from 264 backers, and now is well on its way to creating the camera that sounds too good to be true: a $299 device that’s small enough to fit in a pocket and yet can shoot immersive virtual reality content. The company, headed by chief executive Han Jin, says the LucidCam team is now busy creating partnerships with content creators and brands — its first is with make-up brand Sephora — and reveals that the company will release its first 360-degree 3D video in December. Continue reading LucidCam Developing $299 VR Camera, Partners with Sephora

Hollywood director Randal Kleiser (“The Blue Lagoon,” “Grease”) just debuted “Defrost,” a four-minute narrative virtual reality film that he hopes is the first in a series of VR films. That’s exactly what the 50 cablecasters that comprise the membership of CableLabs hope for. The industry’s non-profit R&D facility, CableLabs has been studying VR and suggests consumer excitement is strong, but that the lack of content could be a major stumbling block for cable companies interested in providing VR programming. Continue reading CableNet Explores VR, Additional Content Could Drive Adoption