Digital & Social Media

Virtual Reality is Creating New Opportunities for Brands

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What happened:

Virtual reality (VR) is making a splash in 2016. This month, Outlyer Technologies announced its Advrtas platform, the world’s first fully interactive 360° ad technology with a VR mode. Samsung (a FleishmanHillard client) is developing “Bedtime VR Stories,” a headset that is changing the future of bedtime stories. These technological advances are changing how experiences are viewed, and the way brands create advertisements and interact with consumers.

What this means for brands:

With the rise in popularity of VR, brands have increasing opportunities to be involved with this emerging technology. While it’s not a new concept, the accessibility of VR headsets and applications is increasing with lower costs and availability. It is estimated that over 12 million VR headsets will be sold by the end of 2016, with over 30 million sold by 2020. VR may be the innovation that keeps brands fresh and prevents them from falling flat. In terms of advertising, it creates engaging ads that will entice viewers to touch, move and explore, rather than quickly scrolling over the ad. On the product front, there are endless possibilities in selling and creating devices, attachments and apps to incorporate VR into everyday life. These innovations have the potential to change and enhance reach and interactions, making it an important investment of all brands’ time and resources.