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Media (R)evolutions: Virtual Reality – a future business model for newsrooms?

Darejani Markozashvili's picture
New developments and curiosities from a changing global media landscape: People, Spaces, Deliberation brings trends and events to your attention that illustrate that tomorrow's media environment will look very different from today's, and will have little resemblance to yesterday's.
 
Virtual reality (VR) in journalism is still in its early years of development. However, it has enormous potential to transform the way news content is made and consumed. Offering a new narrative form, VR has become increasingly popular in newsrooms. Is this the way of the future? Is virtual reality a feasible way to present news? Is this a lucrative stream of revenue for newsrooms?

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

Weekly Wire: the Global Forum

Kalliope Kokolis's picture

These are some of the views and reports relevant to our readers that caught our attention this week.

TechCrunch
Meet The $35 Tablet That Could Connect The World

“TechCrunch just got its hands on the new Aakash UbiSlate 7Ci, the super-cheap tablet that will attempt to connect every student in India to the Internet. Educators have long hoped that cheap computing devices could bridge the global information divide, but previous attempts have been dogged by disappointing performance, lack of Internet access, and financial barriers. The latest version of India’s $35 tablet comes equipped with WiFi and has an optional upgrade ($64) of a cellular Internet package of $2/month for 2 GB of data (roughly 25 emails, 25 websites, 2 minutes of streaming video, and 15 minutes of voice chat a day). More importantly, it is expected to launch this month in India with the government’s commitment to connect even the most remote areas to the Internet. The impact of a successful rollout is difficult to overestimate: rural schools that have been connected to the Internet show immediate and tremendous gains.”  READ MORE