Virtual reality (VR) technology is set to have some big implications for the entertainment industry in the near future, but it’s hard to deny that there are also some big business opportunities for the concept. One such opportunity is with advertising. Several companies have already used head-mounted displays (HMDs) such as the Oculus Rift to promote cars, holidays and much more. But is Oculus VR, the creator of the aforementioned device, thinking about in-VR advertising itself? It would appear not.
CEO Brendan Iribe confirmed as much today, stating that the company was not thinking about in-VR adverts ‘at all’ during an interview with Bloomberg. “We’re not thinking about advertising at all right now,” Iribe said from a spot at the ongoing Oculus Connect 2 developer conference in Hollywood, California. “We’re thinking about advertising our own product out in the world to get more people to grab a Rift or a Gear VR but in-VR advertising is not something is not something we’re considering at all right now.”
As Iribe’s own keynote speech at Oculus Connect proved, the company is squarely focused on the entertainment side of VR at this point in time, as well as working on the technology itself to bring it up to a consumer-ready level. The company announced new partnerships with the likes of Netflix to bring more video content to its mobile HMD, Gear VR, while also lifting the lid on a range of brand new titles set to arrive on the Oculus Rift itself as it launches in Q1 2016.
VRFocus will continue to follow Oculus VR’s work in VR closely, reporting back with the latest updates from the company.