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Broadcast And Entertainment Giants Make $30.5 Million Bet On NextVR

Tuesday, Nov 17, 2015

The buzz around virtual reality has existed for a while, and there are certainly a bevy of differing opinions surrounding the technology. Some insist that VR is too ambitious and futuristic almost to the point of self-parody, while others swear that virtual reality has uncovered the next frontier of entertainment.

Earlier this week, NextVR looked to settle the debate once and for all with a monumental deal that partnered them with some of the biggest names in sports and media. The company, considered to be a leader in virtual reality broadcasting, has developed technology that aims to change the entire landscape of how we consume entertainment and—with the advent of their latest business relationships—they’ve made the right friends to help plant their revolutionary idea in households across the country.

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NextVR sees a future with virtual reality headsets in every home and live broadcasts of VR footage for every primetime event. This week, the company announced a $30.5 million funding campaign in which some of the most powerful forces in media pledged their support for their VR vision. Among these broadcast titans are big names like Time Warner, Comcast Ventures, Peter Guber, RSE Ventures, The Madison Square Garden Company and dick clark productions.

If NextVR had any doubt about the trajectory of their company before, it’s certainly gone now with co-signs from some of the most influential figures in broadcasting. Brad Allen, Executive Chairman of NextVR, expressed his delight of the company’s recent major votes of confidence, saying “[t]his first-class group of investors is a major validation of our virtual reality technology platform…We are focused on delivering a great virtual reality experience and the key is great content. These investments reflect the relationships we are building to provide marquee content.”

If marquee content is what they are looking for, then they went to the right place. The Madison Square Garden Company will provide access to the Rangers, one of the NHL’s current powerhouses, and the Knicks, a young and promising NBA team; however, both franchises generate a considerable amount of attention regardless of their success. Time Warner stands as a global leader in media and entertainment and maintains control over content from fan favorites like HBO and Warner Bros. Each investor brings their own little something special to the table, which spells promise for the future of virtual reality.

“NextVR’s VR platform will be accessible on every major virtual reality head-mounted display – including those by Oculus, Samsung, Sony, HTC and others – delivering unprecedented live and on-demand experiences in virtual reality. NextVR has proven its live broadcast platform with the NBA, NHL, NASCAR, CNN (the Democratic Presidential Debates) and Coldplay’s Ghost Stories Virtual Reality Concert Experience.”

With several successful broadcasts under their belt and an impressive blueprint for the future, NextVR is poised to change everything we once knew about television, film, and sports.

 

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