Winding down the Lighthouse…
Ever tried. Ever failed. No matter. Try Again. Fail again. Fail better.
Almost 3 years ago we started the adventure to convert Future Lighthouse into a world-class VR studio and lead the way in VR storytelling. Through hard work and an amazingly talented creative and technical staff, we have become a lead player in the industry. Our accomplishments have been impressive, especially for a startup coming from Spain with a little over $1M of invested capital:
18 VR productions
40 VR festival awards and selections
Ministry of Time, the first ever VR episode linked to a TV show in broadcast. The second episode amassed more than 100k downloads on PSVR in 2 short months.
SnatchVR, production for Sony Crackle that was selected at the Bienale Internationale Di Venezia Film Festival, and profiled by Forbes as an example of how VR can engage TV series superfans.
BeefeaterXO, perhaps the most ambitious VR branded content campaign to date, which was selected as the first ever VR piece in the Tribeca X awards.
Tomorrow, our first original production, which is playing successfully in VR Cinemas around the world and considered a great first experience for someone that has not tried VR.
Melita, our most ambitious original production that premiered at the Venice Film Festival and is licensed to Oculus. According to Variety it is a shining example of what cinematic VR can be.
And in the coming months we will be premiering the following:
2 episodes of Campfire Creepers which we produced for Oculus, starring Rober Englund (aka Freddy Krueger) and directed by Alex Aja
SnatchVR for Sony/Crackle starring Rupert Grint
In the Clouds Afterlife VR for Sony/Crackle
FelixVR for Movistar+ in Spain
And hopefully, Ray, a Lighthouse Originals that has garnered numerous festival selections.
Despite our achievements and potential operational profitability in 2018, sadly Future Lighthouse has not reached its capital raising goals in 2017. We could have grown organically as the industry progressed, but we decided to make a bet and put everything out there. To hire an incredible team of talented people and invest our own money in original content. But the slow down of the market hit us and without investment capital for future growth, we have been forced to make the tough decision to wind down operations in the coming months.
VR investors have been overly conservative and we didn’t catch the first wave of investment in 2016, making our more than necessary second funding round in 2017 unsuccessful.
We are still bullish on the future of VR, but also know that the next couple of years will be challenging. Those that cross the desert will be extremely well positioned to reap the benefits of this new and wonderful medium that will change how we interact and enjoy all forms of content in the future.
We didn’t make it, but we’ve enjoyed the ride. And, foremost, we believe the best part of the VR industry is the people we’ve met.
If you are getting this email, it’s because at some point our paths crossed in our mission to make Future Lighthouse a stand out company. Perhaps we did projects together, perhaps we explored possibilities, perhaps we had great conversations, perhaps you were on our VR Bus in Tribeca, perhaps we partied together or perhaps we just met more casually at an event. Regardless of the circumstance, it has been a pleasure and an honor to meet you and add our little grain of sand to making the VR industry a wonderful market for all.
Although we are sad to see the Lighthouse go, we still think VR is the future. We still firmly believe that it will change us. So, before saying good bye and formally turn off the lights in the Lighthouse, there are some last things in which you can give us a helping hand to keep our legacy alive:
We’ve created amazing content that needs a new home. We are looking for somebody to acquire our IPs:: (dossiers in the links below)
Tomorrow — VR the Evolution of Language that continues to delight audiences in VR Cinemas around the world
Melita — Part 1 — Our stand out cinematic VR production that has a great runway for exploitation in other platforms (especially PSVR) and VR Cinemas and is about to launch in China. This is an incredibly well positioned IP that can gather audiences and which parts 2 and 3 were in the works, waiting to get developed.
Ray — Our VR fairytale that has not yet been premiered but has gotten numerous festival selections and awards.
We are also looking for somebody to acquire our Development Pipeline of projects and amazing ideas for all sorts of VR experiences. You can take a look here.
Or hire a member of our talented team — ultimately it was them that made everything possible!
If you have not done so already, buy Melita for Oculus or Gear VR on the Oculus Store! (Every dollar helps.)
Once again, thank you. We couldn’t have made this without you. Our team. Our clients. Our friends. We deeply admire you and wish you all the best.
The Team at Future Lighthouse