Facebook to Shutter its Oculus Story Studio VR Content Unit

Facebook announced it is closing Oculus Story Studio and canceling all current projects, reports Variety. The award-winning studio, responsible for notable VR shorts including “Lost,” “Henry” and “Dear Angelica,” opened in early 2015. “We’ve been looking at the best way to allocate our resources to create an impact on the ecosystem,” wrote Jason Rubin, Oculus VP of content. “After careful consideration, we’ve decided to shift our focus away from internal content creation to support more external production. As part of that shift, we’ll be winding down Story Studio.” Facebook plans to continue investing in experiential VR content from outside artists and developers.

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