VR Industry Grows

PricewaterhouseCooper’s annual Entertainment & Media Outlook predicts virtual reality (VR) will be worth nearly half the value of the movie industry within four years. The study projects an annual growth rate of 64%, bringing the industry worth to $5 billion by 2021. For context, the movie industry is expected to grow 1.2% per year to $11.2 billion in worth. But VR isn’t necessarily replacing the movie industry—movie studios are already working on first-person VR experiences. (Blooloop, 6.9.17)