HBO and Discovery invest in OTOY
Home Box Office, Inc (HBO) and Discovery Communications have taken an equity stake in Otoy Inc, a cloud graphics company that specializes in areas including VR distribution.
The investment is intended to help Otoy forge the development of next-generation media and content publishing platforms and services.
The investment will fuel development and distribution of original holographic content, enabling HBO and Discovery to deliver new entertainment experiences to consumers across TV, mobile, web, social and emerging wearable technologies such as virtual reality and augmented reality. OTOY is currently working with Jon Stewart on the development of upcoming content for HBO built using this platform.
“OTOY is unbelievable! It’s a limitless mind-blowing creative platform,” said Jon Stewart. “My dream is to someday understand how they did it!”
Paul Guyardo, chief commercial officer at Discovery Communications, said: “OTOY technology is a massive breakthrough and we look forward to seeing it take VR and AR experiences, including Discovery VR, to a whole new level.”
Michael Lombardo, president, HBO programming, added: “HBO prides itself on being at the forefront of entertainment, both in the exceptional content we produce, and in the ways we bring that content to consumers. OTOY has a roadmap for the future of entertainment and technology. Their creativity and drive perfectly aligns with HBO’s. We couldn’t be more excited to invest in OTOY and to work together on original content and amazing experiences for years to come.”
Jules Urbach, founder and CEO, OTOY, said that the future of media and entertainment “is not going to be constrained by a screen, nor consumed through monolithic apps or platforms.”
He added that OTOY’s mission is to make holographic and immersive content “a mass market proposition for consumers, artists and publishers alike”.
“A key part of this endeavor is unifying production and delivery of content across all possible endpoints, from HTML5, to TV and social, to wearables. With HBO and Discovery as strategic investors and content publishing partners, we couldn’t be more excited to work together to map out the future of entertainment,” he said.
OTOY’s advisory board includes Dr. Eric Schmidt (executive chairman of Google’s new parent company, Alphabet), Samuel J. Palmisano (former chairman, CEO and president of IBM), Ariel Emanuel (co-CEO, WME | IMG) and noted economist George Gilder. Major shareholders include Autodesk and Yuri Milner.