As the modern-day world continues to become more and more digitised and virtual reality-based environments continue to become popular, the metaverse concept is looking even more realistic.
So, what does this mean for broadcasting?
Broadcasting in the metaverse is well on its journey to becoming the new reality. The characteristics of the future concept bring a new dynamic to live direct events, such as concerts or conferences, as well as other forms of entertainment, including virtual reality gaming or interactive experiences using an artificial intelligence (AI) universe. The metaverse may also involve the use of augmented reality or mixed reality technology, which can create immersive and interactive environments for users to explore and engage with.
For example, the broadcast of a sports competition using AI and advanced 3D graphics will increase the level of realism that immerses the viewer. Ultimately, this is a key strategy to increase the platform or organisations potential engagement.
The Australian Open partnering with Decentraland to create a more immersive experience, which saw them replicate the AO grounds, also created new commercial assets to sell to brands, as well as opportunities to bring more eyeballs to their content.
Tennis Australia NFT & Metaverse Project Manager Ridley Plummer said: “Taking the Australian Open into the Metaverse is an important step to provide truly global access to our great event.”
The Metaverse is not going anywhere, and as a company, we’re invested in continuing to grow our online presence and push the boundaries of innovation.”
This is an indication that for the entertainment and broadcasting industry, the metaverse holds endless possibilities. The transitional period is already underway. Online game platforms like Fortnite and Roblox are already hosting their own virtual concerts, featuring renowned artists like Twenty-One Pilots, Ariana Grande, and Travis Scott.
This technology allows users to experience a totally different world away from reality in an unfamiliar ecosystem and has already attracted millions of viewers from outside their typical circles. Bringing your brand/IP onto new platforms, whether that be Sandbox, Roblox etc, is a smart move, and the evolution of the matchday experience, as above with the Australian Open example, continues to show that change is necessary to keep you audience engaged, interested and spending.
Further examples we may see of how the entertainment industry will transition into broadcasting in the metaverse:
An augmented reality game show, where contestants compete in a virtual game environment and viewers can watch the action unfold in real-time on their devices, with special effects and graphics overlaid on the real world. A good example of enhancing a broadcast and the experience around it was one of our speakers last year at our summit, Virtex, which replicates esports gameplay in 3D, allowing you to be more immersed in the event, whilst allowing you to also meet with your friends in this environment whilst the gameplay unfolds.
A live-streamed conference or panel discussion, where speakers and audience members can interact in real-time through a virtual environment, with the ability to see and hear each other as if they were in the same physical space. Don’t worry, we’re not plugging this for the web3 summit just yet!
Many of the largest brands and tech companies, (some of which are investing huge amounts), are all noticing the same thing as the importance of a virtual presence beyond social media grab begins to take shape across a range of industry sectors.
Amazon, Meta and Niantic are just a few of the mainstream companies already investing into the metaverse. Niantic will be co-investing $20 million, alongside venture and angel investors in early-stage AR companies.
Niantic, responsible for Pokémon Go, the most successful AR game of all time. Their CEO and founder John Hanke said: “We believe humans are the happiest when their virtual world leads them to a physical one. Unlike a SCI – FI metaverse, a real - world metaverse will use technology to improve our experience of the world as we’ve known it for thousands of years.”
They plan to be a catalyst for the AR ecosystem, and invite founders and investors to join them in building companies that share their vision for the Real-World Metaverse.
Overall, the development of the metaverse and its potential impact on these industries is an exciting prospect that is worth paying attention to. When it comes to entertainment and TV programming, beyond brand extension, it will be certainly interesting to see the impact that the metaverse will have on things like content creation and consumption.