By Sam Huber, Founder, Advir
In the next five to ten years, there will be a media revolution. VR will profoundly disrupt everything, from how we consume content, to how we play games, connect with each other, and shop.
Looking back at the history of media, from the newspaper, to TV or the internet, advertising has been the best business model for monetizing content. It’s really the only alternative to paid content, and this won’t be any different for VR. In fact, advertising will be the main driver of revenue for VR content producers.
However, VR will need a different type of advertising. Most people hate online advertising, for example, because it’s often intrusive and irrelevant. However, only 4% are willing to pay for online content to avoid it. Instead we have learned to look away from the banners, close the annoying popup, and scroll past that video.
But what about VR? In VR, you can’t look away or skip a video. You’re at the mercy of the content creator. If intrusive advertising were to make its way into VR content, it would be a disaster for the industry.
Luckily, VR gives us the opportunity to flip the current advertising model on its head. Adverts in VR do not have to compete with content like on the web. Instead they can be integrated as 3D product placements within the experience. We can even make these ‘ads’ interactive, like a drinks can you can grab and open, a pair of shoes you can try on, and so much more. That way, ads become part of the VR experience rather than compete with it.
Our vision for VR is a world made of elements that can be sponsored by brands, but in such a subtle way that the user barely notices what is content and what is advert. Doing so creates infinite possibilities for the advertisers and ensures a great experience for the audience.
Check out more of Advir here.