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February 26, 2021

Sony commits to future virtual reality developments

By MarketLine

Hideaki Nishino, Senior Vice President for Platform Planning & Management at Sony has announced officially that Sony is to continue its investment in virtual reality (VR), with a new headset expected after 2021.

Market leader Sony reinforces its position

In 2019, according to Marketline data, Sony was estimated to hold just under 40% of the market share in the VR space and this continued push will reinforce Sony’s position in the market.

Nishino mentioned that the new technologies that will be implemented are an example of the company future-proofing the platform – an interesting point that indicates that not only are Sony investing in the technology now, but that they will continue to do so as new games and applications are released.

This commitment to VR will be huge for developers and publishers who are working on new VR-based titles as they can secure funding and future-proof their own business plans now an official statement has been made by the industry’s leading player in VR.

Healthy competition is helping the platform

Whilst there is competition between Sony and the likes of Oculus, as the technology advances the competition remains healthy as both are expanding the platform’s offering and legitimising the industry.

Third party developers building healthy relationships with Sony would be majorly beneficial in the current climate as Sony solidifies its position in VR, whereas Facebook’s move in 2020 to integrate its social media network into the Oculus headset has alienated both its partners and its user base.

Despite this, a blog post in February from Vice President of Content at Oculus Mike Verdu announced the platform’s success by declaring over 60 titles on the Quest Platform generated revenue over $1m.

Six of those 60 titles even brought in over $10m revenue in February 2021 compared to zero in September 2020. The growth of Facebook’s Oculus platform and thus virtual reality is clear to see following the October 2020 launch of the Oculus Quest 2.

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