Uncovering The Market Potential For VR And AR
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VR is an industry that will experience continuous growth in the upcoming years. However, a significant amount of consumers are unaware, or uninterested in VR technology. In this presentation, we will review the current landscape for VR, observe VR awareness among consumers, and analyze how brands are utilizing the technology.
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Uncovering The Market Potential For VR And AR
- 1. UNCOVERING THE MARKETING POTENTIAL FOR VR AND AR: PREPARED FOR THE ANA, NOVEMBER 2016 | © 2016 SuperData Research. All rights reserved. UNCOVERING THE MARKETING POTENTIAL FOR VR AND AR NOVEMBER 2016 PREPARED FOR THE ASSOCIATION OF NATIONAL ADVERTISERS
- 2. Who I am UNCOVERING THE MARKETING POTENTIAL FOR VR AND AR: PREPARED FOR THE ANA, NOVEMBER 2016 | © 2016 SuperData Research. All rights 2 STEPHANIE LLAMAS Director of Research Head of VR/AR Strategy
- 3. Who we are UNCOVERING THE MARKETING POTENTIAL FOR VR AND AR: PREPARED FOR THE ANA, NOVEMBER 2016 | © 2016 SuperData Research. All rights 3 The leading providers of market intelligence for digital games, eSports, gaming video platforms and Virtual/Augment reality • 78M unique users • $3.2B of transaction data • 42 of the top 50 game publishers worldwide • Panel of 71K consumers
- 4. UNCOVERING THE MARKETING POTENTIAL FOR VR AND AR: PREPARED FOR THE ANA, NOVEMBER 2016 | © 2016 SuperData Research. All rights VIRTUAL & AUGMENTED REALITY MARKETS 4
- 5. $2.7 $1.0 $0.06 $5.3 $0.93 $0.44 $10.2 $1.9 $2.2 $17.8 $4.2 $9.4 $30.5 $8.0 $27.5 Worldwide revenue, $bil Virtual Reality vs. Augmented Reality vs. Mixed Reality UNCOVERING THE MARKETING POTENTIAL FOR VR AND AR: PREPARED FOR THE ANA, NOVEMBER 2016 | © 2016 SuperData Research. All rights 5 Virtual, Augmented and Mixed Reality will earn $67B combined by 2020 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020
- 6. UNCOVERING THE MARKETING POTENTIAL FOR VR AND AR: PREPARED FOR THE ANA, NOVEMBER 2016 | © 2016 SuperData Research. All rights 6
- 7. UNCOVERING THE MARKETING POTENTIAL FOR VR AND AR: PREPARED FOR THE ANA, NOVEMBER 2016 | © 2016 SuperData Research. All rights 7 Worldwide Virtual Reality revenue share Hardware vs. Software (and entertainment share) 19%81% $514K 62% 38% $9.6B 2016 202081% 51% $18.8B $416K
- 8. UNCOVERING THE MARKETING POTENTIAL FOR VR AND AR: PREPARED FOR THE ANA, NOVEMBER 2016 | © 2016 SuperData Research. All rights reserved. Q: Have you ever tried a VR device that wasn’t a Google Cardboard?
- 9. UNCOVERING THE MARKETING POTENTIAL FOR VR AND AR: PREPARED FOR THE ANA, NOVEMBER 2016 | © 2016 SuperData Research. All rights 9 11% 12% 14% 22% 24% 16% 18 - 24 25 - 34 35 - 44 45 - 54 55 - 64 Over 65 Age Distribution 51%49% Interested Unaware or Uninterested VR Awareness
- 10. UNCOVERING THE MARKETING POTENTIAL FOR VR AND AR: PREPARED FOR THE ANA, NOVEMBER 2016 | © 2016 SuperData Research. All rights 10 12% 18% 20% 16% 16% 9% 8% 13-17 18 - 24 25 - 34 35 - 44 45 - 54 55 - 64 Over 65 Age Distribution 51%49% Interested Unaware or Uninterested VR Awareness
- 11. UNCOVERING THE MARKETING POTENTIAL FOR VR AND AR: PREPARED FOR THE ANA, NOVEMBER 2016 | © 2016 SuperData Research. All rights 11 355K 420M 451K 745K 2.3M Oculus Rift HTC Vive Google Daydream PlayStation VR Samsung Gear VR/VR 2 Virtual Reality Device Shipments, Worldwide 2016E
- 12. UNCOVERING THE MARKETING POTENTIAL FOR VR AND AR: PREPARED FOR THE ANA, NOVEMBER 2016 | © 2016 SuperData Research. All rights 12 6% 11% 13% 27% 28% 32% 32% HTC Vive A headset compatible with Microsoft Windows 10 Google Daydream View Oculus Rift Samsung Gear VR PlayStation VR Samsung Gear VR 2 Device Purchase Intent – 12 months
- 13. UNCOVERING THE MARKETING POTENTIAL FOR VR AND AR: PREPARED FOR THE ANA, NOVEMBER 2016 | © 2016 SuperData Research. All rights reserved. Q: How often do you watch streaming content apps like Netflix or Hulu?
- 14. UNCOVERING THE MARKETING POTENTIAL FOR VR AND AR: PREPARED FOR THE ANA, NOVEMBER 2016 | © 2016 SuperData Research. All rights 14 3 days a week 1 hour a day 3 hours a week Virtual Reality consumption
- 15. UNCOVERING THE MARKETING POTENTIAL FOR VR AND AR: PREPARED FOR THE ANA, NOVEMBER 2016 | © 2016 SuperData Research. All rights 15 3 days a week 1 hour a day 3 hours a week 4 days a week 2 hour a day 8 hours a week Streaming entertainment consumption Virtual Reality consumption
- 16. UNCOVERING THE MARKETING POTENTIAL FOR VR AND AR: PREPARED FOR THE ANA, NOVEMBER 2016 | © 2016 SuperData Research. All rights 16 19% 32% 38% 53% 81% To watch live events To watch short videos To have unique VR experiences (e.g., music visualizer, flight simulator, etc.) To watch TV or movies To play games Usage Intent
- 17. UNCOVERING THE MARKETING POTENTIAL FOR VR AND AR: PREPARED FOR THE ANA, NOVEMBER 2016 | © 2016 SuperData Research. All rights 17 22% 27% 28% 31% 31% 32% 33% 54% To remove ads from a VR game VR TV and movie streaming services Items in a social app (e.g., avatar clothing, furniture for a virtual room, etc.) Additional VR gaming content (e.g., extra lives, more levels, etc.) VR TV episode downloads Additional VR content for shows or movies (e.g., an episode in VR, a virtual living room to watch content, etc.) VR movie downloads Full VR game purchases Content Purchase Intent
- 18. UNCOVERING THE MARKETING POTENTIAL FOR VR AND AR: PREPARED FOR THE ANA, NOVEMBER 2016 | © 2016 SuperData Research. All rights HOW BRANDS ARE MARKETING IN VR 18
- 19. UNCOVERING THE MARKETING POTENTIAL FOR VR AND AR: PREPARED FOR THE ANA, NOVEMBER 2016 | © 2016 SuperData Research. All rights reserved. Q: Have you ever had a brand experience in VR?
- 21. Experience from celebrity view Gatorade partnered up with MLB superstar Bryce Harper to release a VR scenario that gives viewers the chance to see what it feels like to be in the mind and body of Bryce Harper in a clutch game time situation. Celebrity endorsement: The view from within
- 22. Celebrity endorsement: Playing pretend
- 23. Experiential content: Unreal becomes real
- 24. Experiential content: See the difference
- 28. Product discovery leads into press Lufthansa – expo and upsell Consumer preview: First class treatment
- 29. VR marketing for marketing’s sake
- 30. UNCOVERING THE MARKETING POTENTIAL FOR VR AND AR: PREPARED FOR THE ANA, NOVEMBER 2016 | © 2016 SuperData Research. All rights KEY TAKEAWAYS 30
- 31. Key Takeaways UNCOVERING THE MARKETING POTENTIAL FOR VR AND AR: PREPARED FOR THE ANA, NOVEMBER 2016 | © 2016 SuperData Research. All rights • Virtual Reality will be the market leader over Augmented and Mixed Reality for the next 5 years with revenues reaching $30.5B by 2020. • Virtual Reality software will grow to $18.8B in 2020, with entertainment and games accounting for more than half. • VR awareness is lowest among 45-64 year olds, making them the least valuable demographic • Mobile VR reigns supreme, both in terms of device shipments and purchase intent. PSVR is the top high-end device among current and future owners. • Virtual Reality content consumption will eat into streaming entertainment, accounting for 3 hours a week.
- 32. Key Takeaways UNCOVERING THE MARKETING POTENTIAL FOR VR AND AR: PREPARED FOR THE ANA, NOVEMBER 2016 | © 2016 SuperData Research. All rights • Users are most likely to consume entertainment and are least likely to pay to remove ads than purchase content and services. • Ad networks are moving in, helping increase access to impressions across all platforms. • Endorsements, experiences and product placement are currently the most popular advertising methods among brands. • Earned media is a key strategy for brands accessing non-VR users while consumers trickle into the market.
- 33. UNCOVERING THE MARKETING POTENTIAL FOR VR AND AR: PREPARED FOR THE ANA, NOVEMBER 2016 | © 2016 SuperData Research. All rights reserved. Q: Will your brand take part in VR in the next 12 months?
- 34. UNCOVERING THE MARKETING POTENTIAL FOR VR AND AR: PREPARED FOR THE ANA, NOVEMBER 2016 | © 2016 SuperData Research. All rights reserved. THANK YOU! STEPHANIE LLAMAS, SUPERDATA RESEARCH STEPHANIE@SUPERDATARESEARCH.COM UNCOVERING THE MARKETING POTENTIAL FOR VR AND AR
Notes de l'éditeur
- Thank you Barbie, and thank you everyone for attending our webinar today. If you’re here it means you probably understand the value of VR, and I’ll be walking you through its growth potential as well as the increasing opportunities for brands like yours. <<NEXT>>
- As Barbie mentioned, my name is Stephanie Llamas and I’m the Director of Research at SuperData and the Head of our VR and AR strategy. My job is to talk to as many VR folks as I can and get a bird’s eye view of where the market is now and where it’s headed. In addition, I speak and attend global conferences such as SxSW and GDC to teach and learn the industry’s newest developments. <<NEXT>>
- SuperData is the leading provider of games and interactive media intelligence. Our research spans the entire digital games market and all of playable media like eSports, gaming video content and VR. We are the only provider with data partners who power our games research, such as publishers and payment providers, who give us $3.2B of transaction data across 42 of the top 50 game publishers on 78M unique users. In order to round out and inform our data research, we use a panel of more than 70K consumers across the globe to learn not just about games, but other digital media like eBooks, streaming media, streaming music and, of course, VR. Because of SuperData’s unique position as a games research leader, we have fostered great relationships over time with the companies who create and power content since a majority of them come from the games industry. Because so many former games leaders are now involved in a variety of VR segments, we are able to tap into more than games and so we cover the whole VR market, from entertainment, to education, to enterprise. <<NEXT>>
- While you and your brand decide whether to dive into the world of VR, there’s a lot you’ll need to know in order to uncover on the right strategy and timing for you. Before we dive in, though, it’s important we clarify how Virtual, Augmented and Mixed Reality are defined. Virtual Reality is an enclosed experience where the user is completely immersed in an imagined setting. Think of the Star Trek holodeck, for instance, but inside a headset. Augmented Reality allows the user to see their real life surroundings but they are overlaid with digital images. The user can interact with the images, but the images do not interact with the user’s environment. Think of Pokémon GO and how Pokémon appear over but do not interact with real life surroundings. Mixed Reality is a mix between VR and AR – it’s an immersive experience where the user is still being able to visualize and situate yourself in real life. The user is also able to interact with the overlaid images as they relate to their actual environment. Think of how Ghostbusters interact with ghosts. <<NEXT>>
- Knowing this, it’s easier to understand how the market will evolve. Virtual Reality is already a $2.7B market and will grow to over $30B in 2020. Because Augmented Reality is so limited compared to VR, the two platforms will consolidate into Mixed Reality, and MR will see a huge boost in 2020. <<NEXT>>
- Overall, the three markets will reach almost $70B collectively by 2020 – roughly the size of the current digital games market. This means the market will grow 15x over from this year as device adoption and platform awareness increase. Games will become an increasing focus for VR while MR will be about both games and other applications like design and enterprise apps. For now, MR development is far behind VR since it relies on AR, which is also still in its infancy, so the best place for brands and content creators to focus is on VR and, more specifically, VR entertainment.<<NEXT>>
- As people begin to buy new VR devices, hardware revenue is overtaking software 4 to 1. But taking a closer look at software, revenues are relegated largely to entertainment channels like games and video content. Games have a more straightforward monetization strategy, so that’s where the bulk of revenue is coming from since users are purchasing games upfront while the industry figures out a proper free-to-play model. So games make up roughly 70% of entertainment’s $416K revenue total. But video entertainment is going to grow its revenue share, surpassing games in 2020 and earning 28% of entertainment software’s $9.6B in revenue. By that point, most hardware purchases will decline as more people will have opted in and software will account for the bulk of VR revenues. This is good news for brands as by that point ad networks will be better equipped to help content creators monetize, meaning more brands can opt in and earn impressions. There are also creative ways in which brands are starting to participate in VR and these strategize only stand to improve as both advertisers and developers better understand VR’s user base. However, right now a key barrier for both hardware and software is awareness. Without making consumers aware of VR, we cannot grow adoption. Google Cardboard is cool but it isn’t what will keep users engaged, but in order to understand what VR even is, consumers need to get into headsets. <<NEXT>>
- [[1:10]] How many of you have tried a high-end VR device? This could be the Samsung Gear VR, PlayStation VR, HTC Vive, Oculus Rift, or any other non-cardboard headset. One of the biggest challenges with getting people to try VR is the fact that A) there needs to be an opportunity for consumers to try it, and B) consumers need to be proactive and opt-into a demo experience. Hardware companies are making great strides in getting devices out there for consumers to get a taste – the big 4 have gotten their headsets into thousands of stores like GameStop and the Microsoft store for demos. But VR devices are not like color TVs, which grew in awareness and adoption by letting folks try them simply by walking by a storefront. Consumers need to go inside, stand in a line if there is one, and ask for the experience. {{RESULTS}} <<NEXT>>
- Getting people into headsets is especially hard since almost half of consumers over 13 have either never heard of VR, or have no interest in learning about it. This is where brands need to take a strategic look at whether VR is right for them right now, and which demographics are going to prove most fruitful. Female VR users are lower than male, account for just under 40% of people who’ve tried a high-end device. In addition, 45-64 year-olds are the least likely to have an interest in VR. We’ve found that people over 65 are the least likely to try a device, but learn about VR through younger family members, especially as they gear up for holiday purchases. Naturally, younger audiences are the most likely to be aware and interested in VR. <<NEXT>>
- As I mentioned regarding adoption, interest is key. Consumers between 18 and 54 are more than twice as likely to have an interest in VR than those older or younger. This is the group of consumers who are most likely to try, and purchase, a VR headset, with 18-34 year olds showing the most interest. The average gamers is in their early 30’s so with VR being games-focused, this is not a surprise. Either way, these are the consumers brands in VR are most likely to reach, and will need to consider if that is their core audience. <<NEXT>>
- Mobile is one winner when it comes to device shipments this year. Following Samsung Gear’s aggressive campaign to get their VR device in the hands of their consumers, 2.3M devices will ship. Google Daydream is getting great traction, though it can only access a core group of smartphone users who are upgrading to a phone that can function with Android Nougat, but as this audience grows, Google Daydream is likely to be a big winner as well. With 60M PS4 devices out in the world, PSVR is this year’s leader with 2.6M shipments. This growth will slow in the next year as more mobile devices are VR compatible – mobile will reign supreme for some time. <<NEXT>>
- As the Oculus Rift offers more functionality with room scale and the touch controllers, as well as the availability of cheaper hardware, the device shows a lot of promise in the coming year. However, mobile continues to show dominance over the next 12 months. The more consumers use their mobile devices to play games and watch content, the more VR mobile interest will grow. <<NEXT – POLL>>
- [[1:20]] I’m sure many of you also consume content on your phones. But even if you don’t – how often do you watch streaming video platforms? This is a key question for potential VR consumers as well because as VR devices become epicenters for entertainment, they will eat away at non-VR consumption. <<NEXT>>
- When we took a look at those who own or plan to own a device this year, their VR consumption was much higher than expected. Despite concerns over motion sickness or fatigue, VR owners still consume media in their devices an average of 3 days a week. {{POLL}} Since they also consume for an average of 1 hour, we are looking at 3 hours of VR consumption each week. <<NEXT>>
- We also took a look at how much streaming entertainment general consumers in the US consume. At an average of 4 days a week and 2 hours a day, consumers watch for about 8 hours a week. But if consumers are watching for 8 hours – many of which play games in addition to that – we cannot expect these consumers to simply add on to their current consumption time. VR users are going to supplement their non-VR entertainment consumption with the 3 hours a week they watch VR content. Meaning they will potentially substitute almost half of their entertainment consumption with VR. This is a significant shift and brands need to be accutely aware of the diminishing viewership for other digital media. <<NEXT>>
- During those 3 hours a week, consumers will be most likely to play games or watch TV or movie content. In fact, more than 80% of VR users are on the platform to play games. Mobile devices tend to have more TV and movie content, so this is still a very relevant category, but as of now VR drives the most interest amongst gamers. There have been great opportunities for brands inside games like Mario Kart 8 featuring Mercedes Benz, and with VR’s enhanced interactivity, consumers are even more likely to remember their experience with a brand than simply seeing it inside 2D media. Because VR is a new medium, many of the traditional monetization strategies don’t apply. Mobile players, for instance, are ad-fatigued after years of being bombard with banners and interstitials. So mobile games largely monetize with microtransactions instead, offering ad opt-out purchases. However, VR is still new and people are still discovering how they want to interact with it. <<NEXT>>
- When we looked into VR users’ purchase intent, they were least likely to pay to opt out of ads. They were also most likely to purchase games. This shows a very promising opportunity for brands not only to immerse themselves in VR content, but VR games specifically as a way to take full advantage of higher, more willing spenders inside games that often do not offer opt-out purchases. <<NEXT>>
- [[1:35]] ((15 MORE MINUTES)) Becasue they are still exploring the space, brands have largely focused on non-gaming content. But that still has proven effective as advertisers offer creative experiences to consumers and pave the way for new stakeholders to also create compelling experiences. <<NEXT>>
- For those of you who have experienced VR, have you ever had a brand experience? How did you get there? While you vote, I want to start by showing you how ad networks are offering creative ways into the space.
- Immersv and VirtualSky offer sponsored ads and experiences during VR sessions. The two have worked to creatively discover interesting ways to involve viewers in the ad. One tried and true method is 360 video where the viewer is surrounded and compelled to see highly animated and immersive environments. This is mainly how ad networks are using the platform, though there are some experiences that provide interactivity, and this will grow as networks learn the best way to help advertisers leverage the main content experience. Retinad and Vertebrae have both garnered huge investor interest as they provide new analytics to VR ads. Retinad has raised $1.5M while Vertebrae has raised $10M in funding. Vertebrae is still in beta, but is working with the likes of Lionsgate to provide playable experiences like a Blair Witch experience called Sisters, and product placement in content. The company, along with Retinad, is also developing heatmap analytics to show advertisers how VR users are viewing their content. Aside from traditional digital ad placement, companies are creating full experiences to offer consumers a different view of their product. <<NEXT>>
- Gatorade partnered up with MLB superstar Bryce Harper to release a VR experience that gives viewers the chance to see what it feels like to be in the mind and body of the player during a clutch game time situation. Gatorade released several experiences like this on different platforms the brand iteself monetized them through digital advertisements. The brand added 2D content to the experience by creating a video of children viewing their content, and getting a surprise visit from Harper himself. They were able to leverage the content on two different platforms so even non-VR users could see how they are creatively using VR. <<NEXT>>
- Absolut partnered up with deadmau5 to create a gamified experience where they are the DJ, running to his next gig. Absolut cleverly hid their brand throughout the experience without inundating viewers and allowing them to actually experience the game itself. {{ETC}} <<NEXT>>
- AMC’s The Walking Dead recently released a 360 degree video called “Feast” and puts the viewer in the middle of a zombie feeding scene. It’s actually a pretty disturbing scene that makes you hope that you won’t ever be zombie food in case there is actually a zombie apocalypse. This short promo video goes along with another previous title AMC released called “Surrounded,” which puts the viewer in the middle of a zombie horde that slowly approaches the viewer until they are surrounded. Both experiences are extremely unnerving, but considering the I personally liked these short promotional videos. They play well to their audience and helps viewers experience what it feels like to be in a scene from the show. I watched them on Youtube’s 360 system and I still felt like I was in the scene. I jumped a bit when I was watching the clip “Surrounded” because I kept turning my view around in a circle as I see zombies walk closer to me. But at the very end, one zombie gets a little too close to my comfort and when I turned my camera angle around, I literally jumped out of my seat.
- What should brands know when diving into the VR and AR spaces?
- What should brands know when diving into the VR and AR spaces?