Facebook closes Oculus VR production unit
Facebook has decided to close its in-house VR production unit, Story Studio. The unit, which was established by Oculus two years ago, was behind some of the best VR films to date, including Lost, Henry and Dear Angelica.
Facebook said that planned to shift its focus away from in-house VR production to invest in external VR productions.
In an official blog post, Jason Rubin, head of content at Oculus, said: “We’re now entering the next chapter of VR development, where new creators enter the market in anticipation of adoption and growth, and we’ve been looking at the best way to allocate our resources to create an impact on the ecosystem. After careful consideration, we’ve decided to shift our focus away from internal content creation to support more external production.”
Furthermore, Rubin stated that Facebook would ring-fence $50 million in funding for “non-gaming experiential VR” each year. This sum will come from the $250 million annual funding for VR content producers which Facebook announced in 2016.
Moreover, Facebook will also renew its focus on R&D for VR and AR hardware and software.