Oculus shutters VR film Studio

Sundance Film Festival

Ocuuls shared some surprising news earlier this week when it announced that it was officially shutting down its film studio, called Story Studio, and that it would be redirecting its efforts and funding towards third-party content creators that are creating for the VR platform. The Oculus Story Studio, which was opened back in 2015, has produced some widely acclaimed short films like Lost and Henry.

The VP of Content at Oculus, Jason Rubin further stated they would be diverting its resources into developing more VR content from sources external to the company.

Oculus is shutting the doors of its Film Studio to divert its attention from supporting the external content market, said the social networking firm on Thursday. "Last year, we committed an additional $250M to fund VR content from developers all over the world ..."

"We're still absolutely committed to growing the VR film and creative content ecosystem", Rubin assured.

Social media giant Facebook Inc. made a major bet on the future of virtual reality in 2014 when it bought the start-up for $400 million in cash and almost $2 billion in stock.

It's also opening up Oculus to having more time to devote to figuring out other issues with virtual reality and augmented reality technology.




Oculus Rift promised us the future of VR. Just this year the studio premiered Dear Angelica, a VR movie animated within VR itself.

To replace this content Rubin will set aside $50m to invest in non-gaming, interactive VR content.

However, two years after it was founded, it has experienced its biggest setback as Facebook announced it is to close the studio. 'As part of that shift, we'll be winding down Story Studio. Those employees who will be affected by this decision can apply for new positions within the Oculus department. A Texas jury found that Oculus co-founder Palmer Luckey failed to comply with a nondisclosure agreement and the company infringed on copyright. It has got several prizes to its credit as well, including an Emmy award for Henry.

Hugo Barra, who left a job at Chinese phone maker Xiaomi.is now leading Facebook's virtual reality efforts, including the Oculus team.

"Our goal is to inspire creators across all mediums and genres-filmmakers, musicians, painters, writers, cartoonists, and more-to bring their VR ideas to life", he wrote.

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