ASIA TV FORUM
’17 to be year of survival for VR market
SINGAPORE: Though forecasts on Virtual Reality or VR are optimistic — a study said it would be a $30 billion market by end of this decade — these statistics do seem a bit unrealistic as many area of concerns are yet to be addressed.
When will we get to see 10 million VR units? When will an inflection point be witnessed? When will VR or related technology start monetising data flowing from VR usage? These are some of the many questions that come to mind. With not many analyst teams focused on VR, Clifton Dawson decided to venture into this area two years ago with his company Greenlight VR.
“Due to the fragmented nature of the industry, people are still trying to crack the market and are not yet aware of the various business models. Having said that, I believe that 2017 would be the year of survival for the industry because the time horizon for this robust industry to place its foot firmly is much longer due to the few missing pieces that will eventually unfold with time,” Greenlight VR founder and CEO Clifton Dawson says.
With a comprehensive research on the virtual and augmented reality industry, Greenlight Insights provides market intelligence to innovative companies through syndicated research, services and events. Having headquarters in San Francisco and a small set-up in Beijing, Greenlight VR has an employee strength of 20.
Will 2020 be the year of inflection? Dawson clearly rubbishes this thought as he mentions that the focus on 2020 is short-sighted. “2025 is strategically a better year,” he explains, adding that so far there have been launches or expected launches like Oculus Rift, HTC Vive, PlayStation VR and Samsung Gear VR.
Dawson points out that presently the VR headsets are of first generation quality and it would improve when the fourth generations sets come in wherein issues relating to audio or (video) display would get resolved. “I truly believe that these headsets would look nothing like the current ones, he adds.”
It is expected that as the industry and technology progress, VR would not just be restricted to the gaming world, but increasingly used by brands for promoting their products, medical college students being taught with the help of VR and property agents using it to sell properties. So, a question arises: which all markets this technology likely to flourish more?
“It’s all about timing as it’s the only thing in question. For now, certain genres of gaming (not casual) would work. As for brand advertisement, it is not there yet. VR mechanism leads to behavioral changes and one needs to crack the code on how to monetise it,” Dawson says.
Will the blend of augmented reality and virtual reality, that is mixed reality (MR), be future? Dismissing this idea outright, Dawson explains, “MR is totally a different ball game. It’s an entirely different technology and requires separate business model and ecosystem.”
Dawson advises people that to succeed in the virtual reality field, one needs to have a 10-year view and not be short-sighted as the returns won’t come so easily. Be patient: is his final suggestion to players and the industry in general.
MUMBAI: The Asia TV Forum (ATF) is drawing to a close amid much fanfare. The event saw several activities such as an exciting round of on-stage pitches wherein producers from all over Asia presented their ideas. The winners of the inaugural Asia TV Forum & Market (ATF) Animation Pitch were also anounced and the unveiling of the second ATF Formats Pitch took place on 30 November 2017.
Reed Exhibitions and global partner Green Gold Animation announced studio2 Animation Lab as the winner of the first-ever ATF Animation Pitch. The animation concept, titled “The Western Journey of Pigsy”, wowed the on-stage jury for its creativity and strong appeal to children. The line-up of judges, which comprises some of the biggest names in kids’ animation and entertainment, also saw strong potential for the concept to be exported and extended to a series.
Targeted at creators and producers of innovative concepts for new and original kids’ animation, ATF Animation Pitch is aimed at facilitating the exchange of ideas and talent between leading international television, distribution and Asian-based producers. In total, 61 entries were received from all over Asia.
“I am thrilled and excited to be named the winner of the inaugural ATF Animation Pitch. We had a unique concept and we felt that it allows viewers to experience the journey in the west story in a contemporary way. Moving forward, we will work towards developing the script for the concept,” said studio2 Animation Lab director Chiu Li Wei.
Chiu Li Wei and Grace Chuang from studio2 Animation Lab received a $19,000 prize from GreenGold Animation. This includes a $2,500 cash award, and a consultancy package worth $16,500 that is tailor-made for them to further develop the winning animation, making it ready to pitch to broadcasters.
After a closely contested fight between five finalists, leading independent distributor all3media International and ATF announced that Gamaliel Paulus (Gammy) from Indonesia, came out on top, winning $3,500 in cash and a $16,500 (both Singapore dollars) consultancy package tailor-made to develop the format, making it pitch-ready for broadcasters.
ATF Formats Pitch is the premier Asian pitching competition designed to discover innovative concepts for new and original non-scripted entertainment formats from the pan-Asian region. This platform showcases the best of Asia, and exposes ideas for export and development within and even outside of the region.
In its second year, the competition received more than 50 entries from 13 countries and only five finalists were selected to pitch their concept during the live on-stage judging session which concluded earlier today. Formats were evaluated based on creativity, originality and capacity to return for multiple series. The winning concept must also have the capability to resonate with audiences globally.
Portraying all these qualities was the winning format, Ranking. It is a game show where participants have to guess the correct order of a ranking in return for prizes. Besides the excitement value that comes with game shows, it also serves to dish fun facts and information to viewers. The judges loved the simplicity of the idea and felt that it had great potential for further development.
“As many people are familiar with rankings, I believe my format will appeal to any country. Also, I have not seen it in the form of a game show concept. As a producer myself, I understood that for a format to do well, it has to be simple. I am very thankful for the win, I didn’t expect it at all,” said Gamaliel Paulus (Gammy).
To further develop the format and make it ready for pitching to broadcasters, Gamaliel Paulus (Gammy) will work closely with all3media International. This follows the success of “Hit It” from XTREME Media, which won at the inaugural ATF Formats Pitch last year, and has received its first local commission for a debut in February 2018.
Aside from the ATF Animation Pitch and ATF Formats Pitch, ATF and ScreenSingapore is also home to another pitching competition, the Southeast Asian Film Financing Project Market.
