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IMAX VR’s Death Is An Important Cautionary Tale For The Location-Based Scene

In August 2016 IMAX Chief B.D. Officer Rob Lister revealed an exciting forecast for the company’s VR plans. He envisioned a world in which the latest blockbusters would be accompanied by VR ‘companion pieces’, which moviegoers could see alongside the film for a slightly higher price. He name-dropped movies like Avatar 2 and directors such as Christopher Nolan, saying they would give creators VR cameras to shoot this content. Like the traditional IMAX experience, the company wanted to create high-end movies that gave you a reason to visit theaters.Following a sheepish roll out in 2017, IMAX spent the latter half of 2018 slowly dismantling its handful of global locations. Despite a positive reaction from customers, the company had already expressed disappointment in the numbers of visitors it had managed to attract. By November, it was down to less than half of the centers it had initially opened. The writing had been on the wall for some time.

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Pegula Sports and Entertainment

At Pegula Sports & Entertainment we encourage and recognize our team of employees to lead the company and each other through innovation, teamwork and a winning attitude. While always learning and progressing, our goal is to be visionaries and leaders in the sport and entertainment industry by bringing together the individual resources, capabilities, and talents of each entity to create a cohesive and sustainable brand that together represents the Pegula family’s interest.

OTHER ARTICLES
Technologies, Business

Music and podcasts are competing for the same time

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The pandemic changed media consumption.Consumers acquired an extra 12% of entertainment timeand though everything was up, some categories grew much faster than others. One of the biggest gainers was spoken word audio, with podcasts and audiobooks seeing dramatic rises and while music hours grew too, the increase was below 12%, which means that music lost share. In the current entertainment environment of plenty this may be an academic concern, but when life returns to some form of normality (commutes, going out, gyms etc.) some or all of that extra 12% of entertainment time will go, which means that growing by less than the market average could translate into decline.

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Business

AR in B2B Sales: What to Expect

Article | July 11, 2022

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Virtualization, Media and Broadcasting

4 Stocks To Buy To Invest in Virtual Reality

Article | July 13, 2022

The virtual reality market has been hailed as the "next big thing" for decades, but VR has repeatedly disappointed consumers with mediocre hardware products and software experiences. But in recent years, a wave of refined devices narrowed the gap between consumer expectations and reality. The VR market's future has yet to be written, but investors who believe in this budding market should consider buying these four tech stocks. Sony's PlayStation VR is the best-selling VR headset in the world with over 5 million shipments since its launch in October 2016. That only represents a sliver of Sony's installed base of 110 million PS4s, but that foothold has encouraged developers to produce more stand-alone VR games and add-on experiences for PS4 games.

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Media and Broadcasting

FILM PRODUCERS FLIP BARGAINING TABLE WITH UNIONIZING EFFORT

Article | May 21, 2021

Movie producers often find themselves negotiating with talent and crew members, and/or their production union representatives, over pay and benefits. But a group of 108 producers flipped the script Thursday in announcing they were looking to form a union of their own.Higher minimum pay and health benefits were cited as the two major reasons. While the group, called the Producers Union, boasts some heavy hitters such as Chris Moore (Manchester by the Sea) and Rebecca Green (It Follows), they made it clear that the traditional image of a Hollywood producer is misleading. Many are just getting by, project to project, looking for a breakout hit to up their quote. According to a survey released this year, 41% of producers made less than $25,000 in the pre-pandemic boom times of 2019. The Producers Union has developed a constitution with provisions for dues and diversity initiatives, with the aim of eventually negotiating a collective bargaining agreement with distributors and other film financiers. Previous efforts by producers to unionize have been thwarted by the courts and the National Labor Relations Board, according to Variety, as the NLRB saw them as supervisors and employers – which creates a high barrier to organizing.

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Technologies, Business

AR in B2B Sales: What to Expect

Article | August 3, 2022

The pandemic changed media consumption.Consumers acquired an extra 12% of entertainment timeand though everything was up, some categories grew much faster than others. One of the biggest gainers was spoken word audio, with podcasts and audiobooks seeing dramatic rises and while music hours grew too, the increase was below 12%, which means that music lost share. In the current entertainment environment of plenty this may be an academic concern, but when life returns to some form of normality (commutes, going out, gyms etc.) some or all of that extra 12% of entertainment time will go, which means that growing by less than the market average could translate into decline.

Read More
Business

Branded Entertainment in B2B: Why is it Important?

Article | July 11, 2022

The potential of augmented reality technology goes beyond games and photo filters. It can benefit B2B businesses, especially their sales departments, in more ways than one. B2B sales is about converting potential clients into customers by using all the features and benefits of your product or service. Highlighting the profit the clients will make using your product or service is your priority. But how does augmented reality (AR) play into all of this? Here are three interesting use cases of AR in B2B sales for you to look at: AR in Exhibitions: Stand Out From the Crowd At exhibitions, if you do not stand out among your competitors, you might not attract any visitors to your stand. AR can bring your stand the footfall you expect. At 2017’s North American International Auto Show, Ford used AR to attract visitors. A visitor could sit inside the car and simultaneously see what was happening under the car’s hood on a big display screen. The experience impressed visitors and earned Ford brand visibility. AR in Data Visualization: Present Interactive Insights AR helps in presenting the value of your product or service in an interactive 3D visualization. A great example of this would be IBM’s Immersive Insights, a visualization tool that presents data in 3D space. Spectators can explore and understand data insights without feeling burdened with just numbers. This technology has potential in the B2B sales space as it can simplify complex data visualization and attract your prospects with visual appeal. AR in Product Presentations: Realistic and Immersive Experience There are always aspects of your product or service that you need to highlight in front of your prospective clients in unique ways so they can see the value of your offering. AR allows you to present your product in a realistic way. IKEA used AR to help clients try their furniture in their offices and apartments by superimposing it on their surroundings with the IKEA Place app. Realtor.com and industrial machines like CAT also help customers see what the offerings look like so that they can make informed decisions even without physically interacting with the product or service. Wrapping It Up Using AR in B2B sales is still an evolving concept, but can become a substantial tool in the toolkit of B2B sales teams that want to try new things to boost their numbers.

Read More
Virtualization, Media and Broadcasting

B2B Movie Placements: What to Expect?

Article | July 13, 2022

The virtual reality market has been hailed as the "next big thing" for decades, but VR has repeatedly disappointed consumers with mediocre hardware products and software experiences. But in recent years, a wave of refined devices narrowed the gap between consumer expectations and reality. The VR market's future has yet to be written, but investors who believe in this budding market should consider buying these four tech stocks. Sony's PlayStation VR is the best-selling VR headset in the world with over 5 million shipments since its launch in October 2016. That only represents a sliver of Sony's installed base of 110 million PS4s, but that foothold has encouraged developers to produce more stand-alone VR games and add-on experiences for PS4 games.

Read More
Media and Broadcasting

FILM PRODUCERS FLIP BARGAINING TABLE WITH UNIONIZING EFFORT

Article | May 21, 2021

Movie producers often find themselves negotiating with talent and crew members, and/or their production union representatives, over pay and benefits. But a group of 108 producers flipped the script Thursday in announcing they were looking to form a union of their own.Higher minimum pay and health benefits were cited as the two major reasons. While the group, called the Producers Union, boasts some heavy hitters such as Chris Moore (Manchester by the Sea) and Rebecca Green (It Follows), they made it clear that the traditional image of a Hollywood producer is misleading. Many are just getting by, project to project, looking for a breakout hit to up their quote. According to a survey released this year, 41% of producers made less than $25,000 in the pre-pandemic boom times of 2019. The Producers Union has developed a constitution with provisions for dues and diversity initiatives, with the aim of eventually negotiating a collective bargaining agreement with distributors and other film financiers. Previous efforts by producers to unionize have been thwarted by the courts and the National Labor Relations Board, according to Variety, as the NLRB saw them as supervisors and employers – which creates a high barrier to organizing.

Read More
MORE ARTICLES

Spotlight

Pegula Sports and Entertainment

At Pegula Sports & Entertainment we encourage and recognize our team of employees to lead the company and each other through innovation, teamwork and a winning attitude. While always learning and progressing, our goal is to be visionaries and leaders in the sport and entertainment industry by bringing together the individual resources, capabilities, and talents of each entity to create a cohesive and sustainable brand that together represents the Pegula family’s interest.

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IMAX Down To Four VR Centers With New York Closure

UploadVR | October 29, 2018

IMAX’s VR Centers are now down to just four locations following its most recent closure.A statement issued UploadVR reads: “With the launch of the IMAX VR pilot program our intention was to test a variety of different concepts and locations to determine which approaches work well. After a trial period with VR centers in multiplexes, we have decided to conclude the AMC Kips Bay 15 IMAX VR pilot run.”IMAX’s VR Centers are essentially VR arcades that let people pay to experience titles like Beat Saber, Raw Data and Star Wars: Trials on Tatooine. The company had once planned to also offer cinematic VR content that would serve as companion pieces to current movie releases, though it also recently transpired that the company’s VR camera project with Google had been canceled too.But this is far from the first closure for these VR centers. Back in August IMAX also shut down its other New York location as well as one in Shanghai, China. At the time, CEO Richard Gelfond stated that, while reaction to the centers had been positive, the “numbers just weren’t there.”That leaves locations in Toronto, Los Angeles, Bangkok and Manchester open for now. IMAX declined to comment on if these centers will stay open. That said, the company already shot down the possibility of opening more centers last week’s earnings call. “We’re not looking for new business projects,” said CFO Patrick McClymont. “We’re keenly focused on the core business. And that will be the approach for next year as well.”

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Community Download: Does Oculus Quest Need Fortnite Or Minecraft To Succeed?

UploadVR | October 26, 2018

At Oculus Connect I spoke with CTO John Carmack some and reminded him of comments he made about Minecraft being the best title for Gear VR.He explained the call was made not to bundle a gamepad with Gear VR, as they had for all the developer attendees at Oculus Connect one year. This means the game he’d worked so hard with Microsoft to bring to the fledgling Oculus mobile platform didn’t have an audience with the right controller. So it’s unsurprising the game — even with Touch controls on Rift – hasn’t become an anchor or major draw for their platform or VR in general, despite Carmack’s initial enthusiasm.With the massive $1.25 billion investment in Epic Games today, the company is likely to undertake a period of rapid change under CEO Tim Sweeney. Epic builds both the Unreal Engine toolset — used by game designers globally to build virtual worlds — as well as its own games, like the cross-platform battle royale leader Fortnite. Balancing both those endeavors with $1.25 billion to spend is going to be an interesting process to watch. For VR, then, I don’t think we can discount Epic’s support (or lack thereof) in a particular platform as being related to the success of the platform itself. Sure, developers can use Unreal tools to make games for Oculus Quest in 2019 and Facebook helped fund the creation of Epic’s Robo Recall, so we know that game is coming to the headset in some fashion. But that’s not the same as Epic supporting VR with its most important title.

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Fortnite Developer Epic Games Announces $1.25 Billion Investment

UploadVR | October 26, 2018

Fornite developer and Unreal Engine creator Epic Games today announced that it raised $1.25 billion in investment.Companies such as KKR, ICONIQ Capital, Smash Ventures, aXiomatic, Vulcan Capital, Kleiner Perkins, and Lightspeed Venture Partners contributed to the funding. In a press release, Epic noted that the move also created partnerships with “investment firms and individuals at the forefront of technology, entertainment, professional sports, esports, and live events.”Alongside Fortnite, Epic Games has been heavily involved with the VR and AR industries over the past few years, making Unreal Engine compatible with both. It’s been especially active in VR, last year releasing Oculus Rift exclusive shooter, Robo Recall.“We’re excited to partner with the finest minds in the financial, sports, and entertainment communities. This reinforces Epic’s position of leadership in real-time 3D technology, and accelerates our ability to improve the way people play, work, and interact with the world,” Epic CEO Tim Sweeney said in a prepared statement.

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IMAX Down To Four VR Centers With New York Closure

UploadVR | October 29, 2018

IMAX’s VR Centers are now down to just four locations following its most recent closure.A statement issued UploadVR reads: “With the launch of the IMAX VR pilot program our intention was to test a variety of different concepts and locations to determine which approaches work well. After a trial period with VR centers in multiplexes, we have decided to conclude the AMC Kips Bay 15 IMAX VR pilot run.”IMAX’s VR Centers are essentially VR arcades that let people pay to experience titles like Beat Saber, Raw Data and Star Wars: Trials on Tatooine. The company had once planned to also offer cinematic VR content that would serve as companion pieces to current movie releases, though it also recently transpired that the company’s VR camera project with Google had been canceled too.But this is far from the first closure for these VR centers. Back in August IMAX also shut down its other New York location as well as one in Shanghai, China. At the time, CEO Richard Gelfond stated that, while reaction to the centers had been positive, the “numbers just weren’t there.”That leaves locations in Toronto, Los Angeles, Bangkok and Manchester open for now. IMAX declined to comment on if these centers will stay open. That said, the company already shot down the possibility of opening more centers last week’s earnings call. “We’re not looking for new business projects,” said CFO Patrick McClymont. “We’re keenly focused on the core business. And that will be the approach for next year as well.”

Read More

Community Download: Does Oculus Quest Need Fortnite Or Minecraft To Succeed?

UploadVR | October 26, 2018

At Oculus Connect I spoke with CTO John Carmack some and reminded him of comments he made about Minecraft being the best title for Gear VR.He explained the call was made not to bundle a gamepad with Gear VR, as they had for all the developer attendees at Oculus Connect one year. This means the game he’d worked so hard with Microsoft to bring to the fledgling Oculus mobile platform didn’t have an audience with the right controller. So it’s unsurprising the game — even with Touch controls on Rift – hasn’t become an anchor or major draw for their platform or VR in general, despite Carmack’s initial enthusiasm.With the massive $1.25 billion investment in Epic Games today, the company is likely to undertake a period of rapid change under CEO Tim Sweeney. Epic builds both the Unreal Engine toolset — used by game designers globally to build virtual worlds — as well as its own games, like the cross-platform battle royale leader Fortnite. Balancing both those endeavors with $1.25 billion to spend is going to be an interesting process to watch. For VR, then, I don’t think we can discount Epic’s support (or lack thereof) in a particular platform as being related to the success of the platform itself. Sure, developers can use Unreal tools to make games for Oculus Quest in 2019 and Facebook helped fund the creation of Epic’s Robo Recall, so we know that game is coming to the headset in some fashion. But that’s not the same as Epic supporting VR with its most important title.

Read More

Fortnite Developer Epic Games Announces $1.25 Billion Investment

UploadVR | October 26, 2018

Fornite developer and Unreal Engine creator Epic Games today announced that it raised $1.25 billion in investment.Companies such as KKR, ICONIQ Capital, Smash Ventures, aXiomatic, Vulcan Capital, Kleiner Perkins, and Lightspeed Venture Partners contributed to the funding. In a press release, Epic noted that the move also created partnerships with “investment firms and individuals at the forefront of technology, entertainment, professional sports, esports, and live events.”Alongside Fortnite, Epic Games has been heavily involved with the VR and AR industries over the past few years, making Unreal Engine compatible with both. It’s been especially active in VR, last year releasing Oculus Rift exclusive shooter, Robo Recall.“We’re excited to partner with the finest minds in the financial, sports, and entertainment communities. This reinforces Epic’s position of leadership in real-time 3D technology, and accelerates our ability to improve the way people play, work, and interact with the world,” Epic CEO Tim Sweeney said in a prepared statement.

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