Will virtual reality films ever go mainstream?
This marketplace podcast is brought to you by vast a global cybersecurity company trusted by over four hundred million people avast is dedicated to protect you online. So you can connect to the internet confidently avast keeping the world safe from cyber attacks. Visit them at a vast dot com. Moviemakers are still trying to find out if virtual reality works for movies from American public media. This is marketplace tech demystifying the digital economy. I'm Molly would. The Tribeca film festival is happening in New York City and this year, it features more than thirty virtual reality movies slash experiences for both movie fans and future be our filmmakers to check out virtual reality films are becoming a bit of a festival mainstay since Oculus brought its first production to Sundance back in two thousand fifteen but VR movies still aren't anywhere near the mainstream. Marketplace tech producers Stephanie us went to the Tribeca film festival to see how some filmmakers still believe in the magic of VR watching a movie in virtual reality involves a lot of stuff being against the headset. When you want it does it you just move it up and down the Lamar Tate is stationed outside the VR film. The key at the terrific film festival. Audience members go in one at a time the standard small dark room, but they're not alone. There is a live actor at all times inside of the room with you. They might touch you just for safety reasons to keep you away from. The walls you might run into walls. Because when you're in the film, you can't see the real world, you're truly immersed and the characters are prompting to walk around with. I want to remember where the key comes from. And what it needs. Maybe you can help me. I think VR is an incredible medium shoe creates memories. It's trike heart is the director of the key which is meant to convey in sort of a dream Lakeway. What it's like to be a refugee we want people to feel like this leap through the journey themselves. But trekker police it for VR to take off the headsets have to get cheaper and people have to well, put them on a friend of the tech. My parents, for example, it was like. You know, and I really had to walk like, I was very insistent newly to learning Tribeca offers VR as part of its immersive film track. Lauren Hammonds is a festival Curators festivals. Play an important part in the ecosystem of launching this work. So the idea of LBJ or location based entertainment is so important to getting audiences. Getting is on this work as part of a long tradition. I'm getting used to innovations in film, like when Thomas Edison's movie, the great train robbery came out in nineteen zero three motion pictures were very new and film historian. Marc Wanamaker describes how one audience member reacted to an actor breaking the fourth wall. George barnes. Who was the star of the great train robbery turns toward the the audience. Pulls his gun looks at the audience and pulls the trigger and then someone in the audience stood up and shot back. But it didn't matter that movie in ended up being a hit VR still waiting for its blockbuster. That's marketplace. Tech producers Stephanie Hughes, we'll see if any studio deals come out of Tribeca. But last year at Sundance of ER distribution company bought a three part virtual reality space series for one point four million dollars and later released it for Oculus. So there's some money out there. And now for some related lakes. There's an interesting piece in wired about the Tribeca festival and these big immersive installations, they're trying out this year with a live actors like Stephanie mentioned it suggests that maybe the future for VR movies is actually more like a museum piece a real world experience where you enter a virtual worlds instead of entering a virtual world alone in your basement with a five hundred dollar headset, which is all very interesting. But it also shows you just how far away we are from figuring out how this medium is supposed to work wired also has a story from earlier this month about not mixing bleed and virtual reality, which seems like a good PSA, you'll find both of those links at our website marketplace tech org, and look it might feel like VR is a slow roller. But I found a research report in the motley fool Tuesday that said it generated three point six billion dollars as an industry in twenty eighteen super data research estimates that number could be. Sixteen billion dollars by twenty twenty two. So yeah, companies are still at it. In fact, Facebook announced Tuesday that it's releasing its standalone Oculus headset. The Oculus quest on may twenty first the quest needs. No, computer or game console to operate. It costs four hundred bucks, and it will launch with over fifty games. Maybe this'll be the one I'm Ali would. And that's marketplace tech. This is a PM. Caroline in Brooklyn, New York wrote to tell us, she's a longtime fan of marketplace, tech and appreciates the content and the mission thinks Caroline to join her in keeping marketplace tech going strong, donate online today at marketplace dot org, and thanks to Carolina and all the marketplace. Investors who make our work possible.