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Future of Film: Why Oculus Rift Was Worth $2B to Facebook

Future of Film Why Oculus Rift Was Worth 2B to Facebook


The question is what content will be available. Eugene Chung,hired by Oculus to serve as its director of film and media, predicts that VR storytelling will be "a revolutionary departure from the moving pictures of today." To begin to picture that future, Oculus has created an application called Oculus Cinema that allows users wearing the headset to experience sitting in a virtual movie theater as they watch an existing movie play on a screen in front of them. "It helps bridge the gap for people who don't understand what VR is in a really familiar way," says Mitchell. "I showed it to my father, who's a real movie buff, and he was blown away and said, 'It's like having an Imax movie theater in your house!' "

There are other intermediate steps before Hollywood embraces virtual reality's full storytelling potential. Studios such as Fox are looking at how VR can be used as a marketing device for mainstream movies. At this summer's Comic-Con, Legendary, whose founder Thomas Tull has invested in Oculus, offered a demonstration that allowed headset-wearers to pilot the Jaeger robot suits from Pacific Rim.

Further down the road, Mitchell predicts, VR "movies" could resemble the interactive theater of today, where, instead of sitting and watching a story unfold onstage, audiences follow actors from room to room, deciding for themselves which plotline interests them.

"VR can bridge the gap between games and films. Games have been incredibly interactive but lacking in terms of story. Films can be powerful in terms of stories," he says. "We're going to see all sorts of combinations of the two. We're just trying to get a handle on what makes sense, what's interesting and what's fun."

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Okay but this is basically still saying "If we build it, they will come."

Oculus still has no killer app as of right now.

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