Video: What Works Today in Video VR?
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Read the complete transcript of this clip:
Jason Thibeault: What works today in video VR?
Chris Michaels: I'm either providing me with an experience that I couldn't get myself, that could be sitting courtside at a Lakers game, that can be a view from the cockpit of a Red Bull flight, or it's providing me a first-person view of something that I couldn't do myself. Those are two things that, as a viewer, I want to feel like I get an experience. And if I can get it from the viewpoint of somebody who's doing something, well then now I've embodied that. Or, if I can get it from Jack Nicholson's seat, courtside at a Lakers game, well, that's something ... I'm not going to pay $10,000 to go to a frickin' Lakers game. Heck no. But I get that experience for paying $2.50 for my game pass.
Those are the types of things that I can see the cost/benefit analysis of a consumer saying, "Wow, that's a cost-effective way for me to experience something I couldn't do," and it's a cost-effective way for me to deliver an experience that gets people to engage with my brand or engage with this activity.
Jim Clements: There's what works in terms of quality, production, and delivery. There's also what works in terms of on the business side of things. If you produce this content and you own it, can you monetize it? Can you make enough money back? We talked about being loss-leaders. Amazon can afford to lose money all day long because they're going to make it up over here, but a lot of companies can't, so what works is ultimately what's profitable. And what's profitable is what consumers will pay for, whether consumers are paying for it directly as a direct-to-consumer subscription or a purchase or whether they're paying for it by consuming advertising. There's got to be some way to monetize it or, ultimately, unless everybody's doing this for charity purposes, none of it works.
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