360° is a game-changer and here is why
360° video and VR is being thrown around a lot at the moment by tech giants such as GoPro, Nikon, Samsung and Ricoh. It seems to be opening new doors for many industries, especially the startup industry. But what is it all about? 360° videos have opened a world of possibilities. Not only to gamers and people with VR goggles, but for anyone with a screen. VR and 360° gives the viewer the possibility to visit cities you’ve never been to, sit front row at a fashion show, or attend their favourite music festival from afar.
In the most simplest of terms, 360° videos work with a system of cameras that record the field of view in 360° x 180°. These images are then framed into a spherical format so the user can explore the scene at any angle.
What does that mean for us? At the moment, a lot of the 360° video quality is still a little low, unless you have serious cash to spend, but many companies are coming in strong — startups and tech giants alike. Earlier this year, Nikon and GoPro announced their entrance to the 360° race, Ricoh already has the Theta S on the market, which is probably the best low-priced 360° camera on the market at the moment. But some startups are also changing the game. Giroptic, Sphericam and Panono, for example, are producing high-quality and multi-faceted 360° cameras, and are greatly challenging the industry. Berlin-based startup, Splash recently won the SXSW award with an app that puts 360° on your smartphone, and it won’t be too long before a 360° and VR become normal features in smartphone devices.
The industry is growing at a spectacular rate. According to a report by Deloitte, 2016 is expected to see 2.5 million virtual reality (VR) headsets sold, with Samsung leading this area. While a majority of the movement in 2016 will be within gaming industry, with around 10 million copies of VR games expected to be sold, VR headsets and 360° cameras are quickly entering the consumer industry. According to Deloitte, VR is still new to consumers, but is paramount for businesses to create more captivating experiences for their customers.
VR and 360° video has great potential for marketing to consumers, and providing a real experience when the consumer cannot be present. Nestle teamed up with google to transport its customers directly the coffee fields in Brazil as part of a marketing campaign for Nescafé. But it’s not only marketing, gaming and headsets that will benefit from the 360° frenzy. Accessories for VR, such as the above mentioned headsets, as well as stabilisers and gimbals will also play a big role in the quality of the video. Regular footage can be painful to watch without stabilization, but it’s even worse in 360°. As new 360° cameras are coming out, LUUV is happy to demonstrate how solidLUUV is future proof, and works with all 360° models, up to 500g. This is an exciting new industry for us too, because LUUV isn’t limited to just one type of camera, and even when 360° reaches the smartphone, we will be here waiting…
LUUV is a Berlin-based hardware startup and are responsible for creating the world’s first all-in-one video stabilizer for all action cameras, smartphones, compact and 360° cameras. LUUV is currently running a crowd-investing campaign on Companisto, and already have 475+ investors. Find our more information here: www.companisto.com/luuv