With virtual reality certain to make major inroads into the at-home entertainment space over the next 12-18 months, companies like Immersv are trying to take advantage of the new advertising opportunities which will emerge from such widespread adoption of VR. Today the company unveiled their new VR advertising platform, and I have to say it is quite innovative and impressive.
Basically the way in which the Immersv ad platform works is that ads, mostly in the form of banners, are placed within a 3D virtual world. When the user glances at the ads long enough they will transport into a virtual movie theater. This is where a short video ad will play on the movie screen in front of them. Once the video ad is compete the user will be taken back to the game or application that they left.
“Advertising in VR is still in its very nascent stages, but based on the early consumer response to our ad units, it is clear that VR-based video ads work extremely well,” Immersv co-founder and CEO Mihir Shah told Variety. “The company has seen completion rates of 80 percent — about double of what you’d see for regular mobile ads”
While, the company has yet to test their ad platform on a large market, primarily because such a market has yet to develop, it’s pretty clear that their outside-the-box thinking may have placed them smack dab in the middle of a market with huge potential upside. The main questions will be, how will users react to the ads, will users actually view the ads, and will the ads get under their skins? It seems like the Immersv platform would be perfect for free games that one may download on an iPhone or Android smartphone, but when it comes to Playstation VR or the Oculus headset, it will be a tough sell to try and display ads on games a users pays big bucks for.
Ultimately this space will continue to evolve and I’m sure the brains behind Immersv will evolve with it. Let’s hear your thoughts on in-app virtual reality advertising in the Immersv VR Ad forum thread on VRTalk.com.