A Scene from Wild: The Experience
I was recently asked two questions which I thought would be good to post the answers to:
What can Hollywood learn from the Silicon Valley?
Hollywood provides the VR content and Silicon Valley provides the technology that enables the VR content to become a reality. However, it is not as simple as that. The learning goes both ways. Producers of VR content have a way of pushing technology companies to create new ways of doing things. This is the case since those who create have a vision of their creation and many times, that vision tends to include more than what is currently available on a technical level. On the other hand, many of those that work on VR technology have their own ideas of what would be useful for VR creation and self-initiate the innovation of that technology. When this happens, producers of VR content can examine the new technology to see how it can enlarge their toolset for creation. In this way, an ecosystem of VR content producers and VR technology makers grows and learning is accomplished in both directions.
What are the three potential problems facing Hollywood when making VR content and how can the industry solve those problems?
One is the current technical limitations for VR creation. There are many thousands of apps and technical improvements that could be made to support stitching, power, resolution and other issues. The industry is still in a nascent stage where even new problems are being discovered every day. However, many people and companies are working on solving these issues. It is just a matter of time before standards become developed, but this cannot happen before a good period of tinkering and risk-taking occurs to see where potential problems exist that need to be addressed.
A second problem has to do with capital. In order to do all this tinkering and risk-taking, there needs to be a good supply of capital to rely on. I am not sure, though, that this will be an issue for very long. Many of the studios are jumping in and funding VR projects and traditional Silicon Valley venture capitalists are now starting to fund VR content companies.
A third problem has to do with unknown consumer preferences towards VR content. There are a few companies that have sprung up to address this issue and I predict that this area, counting VR analytics and VR tech that enables VR analytics, will grow significantly within the next year.