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VR Content Revenue Grew by 30% in 2020, Becoming Media’s Fastest-growing Market

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Virtual reality gained impressive ground in 2020, a recent PwC study finds. Global VR content revenues reportedly increased by around 30% year-over-year, beating out film, traditional video games, and music.

As reported by Protocol, VR’s global content revenue is estimated to be around $1.8 billion, or 31.7% more than in 2019—making it the fastest-growing media segment last year. All major entertainment and media types were taken into account, including the worst performers in 2020: traditional print and broadcast television.

The study, which provides projections out to 2025, comes from PricewaterhouseCoopers (PwC), one of the world’s largest professional services network alongside ‘Big Four’ firms Deloitte, Ernst & Young, and KPMG.

PwC’s Global Entertainment & Media Outlook 2021–2025, Omdia | Image courtesy PwC

They’re impressive numbers, however PwC maintains consumer adoption of VR was slower than expected, which has made the industry increase its focus on the enterprise and commercial sector. Some media types are also expected to take a temporary hit in the near-term due to a return to normalcy after the COVID-19 pandemic, however PwC projects that VR will still be the fastest-rising entertainment and media segment between now and 2025, with revenues projected to rise at a 30.3% compound annual growth rate (CAGR) to $6.9 billion.

PwC says one of the biggest drivers of VR content revenue growth in 2020 was games, and it’s likely to stay that way moving forward. The study projects VR video is also on the move upwards though, estimating that its global revenue of $615 million in 2020 will expand to $1.4 billion by 2025.

All things considered, that’s pretty small in the grand scheme of things. For comparison, PwC says subscription video on-demand accounts for around $50 billion in 2020; as Protocol notes, PC and casual gaming is expected balloon to $194.7 billion in annual revenue by 2025.

PwC’s Global Entertainment & Media Outlook 2021–2025, Omdia | Image courtesy PwC

PwC also provides a breakdown of headset type, and how they may grow in adoption in the future. Mobile VR headsets, which require smartphones to drive graphics, are well on their way out as standalone and “home VR headsets” continue as preferred VR devices. That last category likely includes both PC VR headsets (Valve’s Index, HTC Vive, etc) and console headsets (PlayStation VR).

Like Facebook, PwC seems to have a lot of confidence it the growth potential of standalone VR headsets in the coming years. If it wasn’t already apparent, that may give developers some indication on where things are headed, and which platforms might be worth targeting to capture the largest potential install base.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

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Source: https://www.roadtovr.com/vr-revenue-forecast-growth-pwc/

AR/VR

Epic Games Acquires Sketchfab, the Massive 3D Object Library Compatible with AR/VR Headsets

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Sketchfab, the platform that lets you view, share, and download 3D models via traditional monitors and AR/VR headsets, today announced its been acquired by Unreal Engine creators Epic Games.

Founded in 2012, Sketchfab plays host to over 4 million 3D assets, all of which are accessible through its web-based platform across PC, mobile, and immersive headsets. In a blogpost announcing the acquisition, Sketchfab says it aims to make 3D, AR and VR content more accessible and grow its creator ecosystem, something it says is “critical to an open and interconnected Metaverse.”

Details of the acquisition are still thin on the ground, however Sketchfab says it will remain independently branded moving forward and will be working closely with Epic Games. Sketchfab says it will continue to support other game engines, Unity included.

The acquisition no doubt comes as a direct result of Epic securing a $1 billion financing round back in April, $200 million of which came from Sony Group Corporation. Epic still hasn’t tipped its hand on what that Metaverse will look like, however the company says it’s looking to build connected social experiences starting with its most successful properties FortniteRocket League and Fall Guys.

“Joining Epic will enable us to accelerate the development of Sketchfab and our powerful online toolset, all while providing an even greater experience for creators,” said Alban Denoyel, CEO and co-founder of Sketchfab. “We are proud to work alongside Epic to build the Metaverse and enable creators to take their work even further.”

Sketchfab has partnered with Epic Games in the past as a recipient of an Epic MegaGrant. Unreal Engine, one of the two largest game development platforms alongside Unity, officially supports the 3D model platform via a plugin, as well as Epic’s RealityCapture and ArtStation.

“We will maintain and expand our integration efforts with all creation tools and 3D/VR/AR platforms, so you can easily upload to and import from Sketchfab everywhere,” the company says.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

Click here to access.

Source: https://www.roadtovr.com/epic-games-acquires-sketchfab-massive-3d-object-library-compatible-ar-vr-headsets/

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AR/VR

Epic Games Acquires Sketchfab, the Massive 3D Object Library Compatible with AR/VR Headsets

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Sketchfab, the platform that lets you view, share, and download 3D models via traditional monitors and AR/VR headsets, today announced its been acquired by Unreal Engine creators Epic Games.

Founded in 2012, Sketchfab plays host to over 4 million 3D assets, all of which are accessible through its web-based platform across PC, mobile, and immersive headsets. In a blogpost announcing the acquisition, Sketchfab says it aims to make 3D, AR and VR content more accessible and grow its creator ecosystem, something it says is “critical to an open and interconnected Metaverse.”

Details of the acquisition are still thin on the ground, however Sketchfab says it will remain independently branded moving forward and will be working closely with Epic Games. Sketchfab says it will continue to support other game engines, Unity included.

The acquisition no doubt comes as a direct result of Epic securing a $1 billion financing round back in April, $200 million of which came from Sony Group Corporation. Epic still hasn’t tipped its hand on what that Metaverse will look like, however the company says it’s looking to build connected social experiences starting with its most successful properties FortniteRocket League and Fall Guys.

“Joining Epic will enable us to accelerate the development of Sketchfab and our powerful online toolset, all while providing an even greater experience for creators,” said Alban Denoyel, CEO and co-founder of Sketchfab. “We are proud to work alongside Epic to build the Metaverse and enable creators to take their work even further.”

Sketchfab has partnered with Epic Games in the past as a recipient of an Epic MegaGrant. Unreal Engine, one of the two largest game development platforms alongside Unity, officially supports the 3D model platform via a plugin, as well as Epic’s RealityCapture and ArtStation.

“We will maintain and expand our integration efforts with all creation tools and 3D/VR/AR platforms, so you can easily upload to and import from Sketchfab everywhere,” the company says.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

Click here to access.

Source: https://www.roadtovr.com/epic-games-acquires-sketchfab-massive-3d-object-library-compatible-ar-vr-headsets/

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AR/VR

Epic Games Acquires Sketchfab, the Massive 3D Object Library Compatible with AR/VR Headsets

Published

on

Sketchfab, the platform that lets you view, share, and download 3D models via traditional monitors and AR/VR headsets, today announced its been acquired by Unreal Engine creators Epic Games.

Founded in 2012, Sketchfab plays host to over 4 million 3D assets, all of which are accessible through its web-based platform across PC, mobile, and immersive headsets. In a blogpost announcing the acquisition, Sketchfab says it aims to make 3D, AR and VR content more accessible and grow its creator ecosystem, something it says is “critical to an open and interconnected Metaverse.”

Details of the acquisition are still thin on the ground, however Sketchfab says it will remain independently branded moving forward and will be working closely with Epic Games. Sketchfab says it will continue to support other game engines, Unity included.

The acquisition no doubt comes as a direct result of Epic securing a $1 billion financing round back in April, $200 million of which came from Sony Group Corporation. Epic still hasn’t tipped its hand on what that Metaverse will look like, however the company says it’s looking to build connected social experiences starting with its most successful properties FortniteRocket League and Fall Guys.

“Joining Epic will enable us to accelerate the development of Sketchfab and our powerful online toolset, all while providing an even greater experience for creators,” said Alban Denoyel, CEO and co-founder of Sketchfab. “We are proud to work alongside Epic to build the Metaverse and enable creators to take their work even further.”

Sketchfab has partnered with Epic Games in the past as a recipient of an Epic MegaGrant. Unreal Engine, one of the two largest game development platforms alongside Unity, officially supports the 3D model platform via a plugin, as well as Epic’s RealityCapture and ArtStation.

“We will maintain and expand our integration efforts with all creation tools and 3D/VR/AR platforms, so you can easily upload to and import from Sketchfab everywhere,” the company says.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

Click here to access.

Source: https://www.roadtovr.com/epic-games-acquires-sketchfab-massive-3d-object-library-compatible-ar-vr-headsets/

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The Number of VR Users on Steam Dropped Sharply Last Month, But Valve Isn’t Saying Why

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Valve’s monthly Steam Hardware & Software Survey, which we’ve been carefully tracking for years now, has been a useful way to gauge how many VR headsets are being used on the platform each month. The latest data shows an odd, sharp drop in the number of VR users on Steam, but Valve isn’t saying why.

Each month Valve collects info from Steam users to determine some baseline statistics about what kind of hardware and software is used by the platform’s population, and to see how things are changing over time, including the use of VR headsets.

The data shared in the survey represents the number of headsets connected to Steam over a given month, so we call the resulting figure ‘monthly-connected headsets’ for clarity; it’s the closest official figure there is to ‘monthly active VR users’ on Steam, with the caveat that it only tells us how many VR headsets were connected, not how many were actually used.

While Valve’s data is a useful way see which headsets are most popular on Steam, the trend of monthly-connected headsets is obfuscated because the data is given exclusively as percentages relative to Steam’s population—which itself is an unstated and constantly fluctuating figure.

To demystify the data Road to VR maintains a model, based on the historical survey data along with official data points directly from Valve and Steam, which aims to correct for Steam’s changing population and estimate the actual count—not the percent—of headsets being used on Steam.

Monthly-Connected VR Headsets on Steam

We’ve been tracking the data on VR headsets published in the Steam Hardware & Software survey ever since first-gen VR headsets hit the market. The number of monthly-connected VR headsets on Steam has always seen ups and downs, but last month was different.

In the latest data we saw a surprisingly sharp drop in headsets used on Steam. In fact, it’s the single largest drop we’ve ever seen in the data set—from 2.31% to 1.86%—which is why it stood out as perciular.

While it’s easy to look at the data and see that there have been upswings that are nearly, or as large, as the drop, the major upswings have had fairly clear explanations: the big jump from March 2020 to April 2020 was largely due to the launch of Half-Life: Alyx, while the jump from December 2020 to January 2021 was likely due to the holiday season (with Quest 2 having just recently launched). As for this big drop in the last month, we haven’t been able to come up with any clear explanation.

Road to VR has reached out to three separate people at Valve, on multiple occasions, for comment on the data, but we’ve received no response. Until then, we can only really wait to see if next month’s data brings any answers.

We have seen the Steam Hardware & Software Survey report some funky VR numbers here and there over the years, but usually a correction comes within a week or so. Here we are, three weeks into the month, and nothing appears to be changing. So at this point we can’t say for certain which of the following is true:

  • The data is correct, but the explanation for the drop is unknown
  • The data is correct, due to some kind of statistical adjustment made by Valve
  • The data is in error

Share of VR Headsets on Steam

Looking at the breakdown of individual headsets in use on Steam, we don’t see any strange jostling that we might expect to come with the odd drop in overall headset use.

Despite somewhat notable losses from Rift S (–0.69%), original Rift (–0.54%), and Quest (–0.08%), Quest 2’s gains (+1.74%) managed to grow Facebook’s share of headsets on the platform overall, pushing it to more than 60% for the first time.

Even with the strong growth of Quest 2, other headsets found some room to grow too, like Valve Index now at 16.68% (+0.19%), Vive Cosmos at 1.75% (+0.56%), and even the original HTC Vive at 11.24% (+0.13%).

Windows Mixed Reality dropped slightly to 5.48% (–0.17%), though this marks a three month loss-streak, down from 6.50% share back in March.

HTC’s Vive Cosmos Elite took a larger hit down to just 0.14% (–0.68%), making for a five month loss-streak. Combined, all of HTC’s headsets on Steam now account for 15.22%, less than Valve’s Index headset.

This month’s data also reflected the debut of two new headsets, HTC’s Vive Pro 2 at 0.08% and Pico Neo 3 at 0.27%.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

Click here to access.

Source: https://www.roadtovr.com/steam-survey-vr-headsets-june-2021-sharp-drop/

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