18 Apr 2016 VideoBlocks Out with New 360 Degree Stereoscopic 3D VR Stock Footage Collection
In an announcement that wins the award for most technical adjectives in a headline, Videoblocks is today debuting 360 Degree Stereoscopic 3D VR footage, in both their subscription-based library and their on-demand Marketplace.
The company says they see a rise in both market and platform support for this kind of content, and they expect being the first mover in this space will help grow and strengthen their position in the industry following the exponential success of the past year.
Growth and Development Plans
In April 2015, the company launched a contributor-sourced marketplace for on-demand purchases, that added to their unlimited subscription flat fee model based on their wholly owned library, paying 100% royalty rates to contributors and accessible only to paid subscribers. And it’s turning out really well.
By the end of 2015, the marketplace had hit 1M clips. In present day they are at 1.5M and the projections are to hit 3M assets by the end of this year. All in all, the company expects to soon have their collection at a similar size to their main competitors Shutterstock and Pond5.
Payouts for contributors total $2M in this first year so far, and half of that came in the last 4 months alone. The company calculates that by the end of the year they’ll have paid out around $6M in contributor royalties.
To contextualise their great results, the company points out that industry leader Shutterstock took 9 years in reaching the 1M clips goal they achieved in just 8 months. However, video content was much more difficult and expensive to produce and to ingest back when Shutterstock started with stock footage, than it is today, and that accounts for the disparate growth in these companies origins.
With this metrics and in line with their development plans for 2016, that included a change in leadership and further partnerships with top companies, is that they’ve decided to bring VR format to their platform.
This company was the first in introducing 4K content in 2009, and are now the first in adding VR to stock.
VR in Stock
Videoblocks has been following the new formats in the market closely for the last year. For them, 3D was a gimmick. But they think VR is the next big move in motion imagery.
Although they don’t see the format becoming mainstream –but more like a niche–, they say there’s a growing interest in this kind of content.
And they see stars aligning for VR to continue rising: camera makers developing new VR-producing gear, Google and Apple releasing devices to reproduce it, big distributors –like Netflix– delivering this content to their customers, Facebook and YouTube adding support for the format.
Thanks to these factors that make VR reaching greater audiences, they say, there’s an increasing pool of media buyers reaching out for VR content.
Videoblocks’ New VR Collection
360° VR footage, that they say are to be called “experiences” rather than “shots” or “clips”, will be available on their unlimited library and marketplace.
They’ve partnered with worldwide-based production companies like Ovrture, OFFHOLLYWOOD, Atmosphaeres, Deep VR, Subvrsive and 360 Lab to supply content for both revenue streams. Videoblocks is also producing their own VR experiences, which will be available on the unlimited library only.
The initial collection covers a wide range of topics and locations. Buyers can find experiences from various cityscapes as well as lifestyle and wildlife themes like fishing out west or safaris in Africa.
The experiences will be available in both monoscopic and stereoscopic formats, depending on the gear and method used to shoot. Monoscopic is shot with one camera, and produces 2D footage. Stereoscopic uses a camera array to mimic the human eye, resulting in 3D footage. The resolution standard for stereo VR is normally around 4K, but some producers deliver 6K experiences too.
Price point for VR experiences in the on-demand marketplace is of $399 for mono and $499 for stereo. Just as from all other content sold through this channel, contributors receive 100% royalty rates.
To promote the launching of the new collection, the company released a series of experiences on YouTube, featuring a beach scene, a night time cityscape at LA, and a view of the Hollywood Boulevard. VR headset-ready videos are also available on their YouTube channel.