Feb 5 Virtual reality company Wevr raised $25
million from investors including HTC Corp and Samsung
Ventures to fund the launch of a new platform for VR
creators to distribute content, executives said on Friday.
The platform, called Wevr Transport, is available now to a
limited number of users in a test phase. It is designed to run
on various virtual reality headsets through an app and on a
Virtual reality video offers a 360-degree view that immerses
people in fantasy settings. The technology has been touted for
decades but never reached mass adoption.
This year, Facebook Inc's Oculus unit, Sony Corp
and others plan to introduce modern VR headsets. Wevr
and other companies are making VR videos to lure audiences to
Wevr Transport features content from Wevr, other independent
studios and major media companies, executives said. Current
selections are free to watch, but paid VR experiences may be
added to the mix later this year.
"Consumers will pay for content that they value," Wevr's
chief executive, Neville Spiteri, said. "We think there will be
experiences we will be able to sell."
In future years, "there are opportunities for advertising
and other revenue models," Spiteri said.
(Reporting by Lisa Richwine; Editing by Leslie Adler)