VR isn’t dead. Pundits, tech reporters, and financial analysts have spent the last few years declaring virtual reality dead on arrival, but VR has not died. Virtual reality as a medium is healthier than it has ever been, but it still faces plenty of headwinds going forward.
The Cult of VR
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Virtual reality is still a tiny segment of consumer electronics, but it also has its most fervent supporters. This era for VR reminds me of the early days of PC gaming in the 80s and 90s. It is even similar to the Mac faithful who kept Apple alive in the 90’s as the company struggled to innovate without Steve Jobs. VR has its evangelists today. I definitely identify as one, myself. VR enthusiasts believe in the medium so much that we refuse to entertain the idea that it could fail. It is this blind faith that has lead me to describe it as a cult. Look at how Facebook views VR. They have yet to show a profit on the Oculus subsidiary, but they simply don’t care. VR’s success in the long-term is clearly more important to the company than short-term financial results.
You Need A Killer App
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A common refrain from VR’s critics is that VR lacks a “killer app” that will move hardware. A year into this current head-mounted display product cycle, I think it is pretty clear that there is not just one thing that will sell these devices. There are immersive passive and more traditional gaming experiences that have created two markets for VR software. NextVR has done a great job of proving the value of virtual reality by putting customers on the sidelines of basketball games and creating a new way to enjoy spectator sports. At the same time, Resident Evil 7 has scared and delighted PSVR customers on the PlayStation 4. Neither one of those producrts are doing the same sales numbers as Angry Birds on mobile, but they highlight that VR customers are being drawn into the medium for a number of reasons. It seems that the comparison to mobile will be apt in the long run, as the utility of the smartphone can’t be pinned down to one app. It is the vast array of applications that make smartphones great for users and, over time, VR software should be able offer a similar value to HMD owners.
Developers! Developers! Developers!
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Source: ShackNews