VR is “an immersive media experience that replicates either a real or imagined environment and allows users to interact with this world in ways that feel as if they are there.” Immersive storytelling may come in a few forms such as “virtual reality,” “augmented reality” and “spherical/360-degree video.” While early experimentation of VR in media focused on documentaries, by 2017 there is a larger variety of VR news content expanding to short features, foreign correspondence, political news coverage and others.
According to the recent report from the Reuters Institute for the Study of Journalism, further success of VR in journalism is highly dependent not only on good/diverse content, but also on the adaptation of VR headsets by consumers to fully immerse themselves in the virtual reality experience. While the experimentation of virtual reality storytelling has been on the rise, the adaptation of VR headsets by consumers is still low. It is estimated that total high-end headset sales are around 2 million worldwide. Others predict that by 2020 up to 34 million headsets will be sold, with virtual reality market reaching $150 billion in sales.