Facebook, Sony, Google and Samsung all have something in common, they’ve invested heavily in the development of virtual reality. It is an exciting prospect that has been floating around for the past 60 years and it seems that it has finally reached a point where it could be commercially viable.
How to Monetize Virtual Reality
Here is a comprehensive list of the various avenues to monetize virtual reality.
1. Premium content
This is probably the most direct way to monetize virtual reality. It enables the developer to get paid upfront for their content while the consumer gets to experience a premium content without intrusive Ads or annoying micro transactions. It is a monetization strategy that favors developers of high quality virtual reality content.
Ads are responsible for the success of the online job marketplace and successful monetization of numerous media-centric technologies, these include television, radio, websites and even apps. It is therefore safe to presume that somebody will find a way to place some form of advertising on every virtual reality device. Unfortunately these Ads will need to be less intrusive as many consumers won’t enjoy a disruption of their immersive virtual reality device.
3. Micro transactions
The emergence of the in-app economy has created a new way to monetize media content. This is an avenue that encourages the consumer to make small micro transaction while they enjoy their content. Virtual reality companies in Australia will also provide a platform for developers to try out this relatively new monetization strategy.
4. Content marketing
There’s a very thin line between advertising and content marketing and the average person won’t be able to tell the difference. This is why virtual reality is the perfect platform for content marketing. Can you imagine how much a company like coca cola will pay in order to have a sprite bottle in every virtual reality game?
These are the proven monetization for media-centric technologies and they’ll probably work out well in virtual reality. There is also a possibility that advent of virtual reality will introduce a new ways to monetize media content that hasn’t been seen before but until then we’ll just stick to what works.