Augmented and Virtual Reality startups raised a record over $3.6 billion from VCs and corporates in the last 12 months to the end of Q1 2018. Over three-quarters of a billion dollars was invested in the first 3 months of this year alone.
According to Juniper Research, Subscription Video on Demand (SVoD) services — from leading providers such as Netflix and Amazon — will drive a surge in OTT revenues to reach $120 billion in 2022, and that’s up from $64 billion in 2017. In this environment, the traditional expensive bundle of pay-TV services will surely continue their decline.
More CTOs are being tasked to assess the commercial applications of augmented and virtual reality technologies. These systems are increasingly being applied, due to their ability to provide immersive training environments, accurately simulate dangerous situations, and avoid costly travel and equipment-related expenses.
Source: Digital Lifescapes
Many are pressing play, but who’s willing to pay? In the past year, digital video viewing is on the rise for both free and paid content. And more teens are willing to pay for digital content, with 63% saying they purchased digital video in the past year, up from just 45% in 2016.