Traditional Media Players Investing in Virtual Reality Startups

Comcast and Time Warner are the latest major media players to invest in the emerging virtual reality space, as the companies recently joined a $30.5 million funding round for NextVR, a startup that specializes in broadcasting live events in VR. “Last month, NextVR offered virtual-reality broadcasts of a Democratic presidential debate and the National Basketball Association’s season-opening game,” reports The Wall Street Journal. VR “has become a popular bet for traditional media companies seeking to hold and expand their audiences as viewers cut pay-TV subscriptions in favor of content delivered via the Internet.” Jaunt and AltspaceVR are among other VR startups that have received funding from media companies.