Disney Invests in VR Company Jaunt

Now Walt Disney (NYSE:DIS) wants in on the virtual-reality action, as the House of Mouse and several other entertainment names are investing $65 million into cinematic virtual reality company Jaunt. It’s the latest evidence that Hollywood wants in on VR before the technology is widely available.

Cinematic virtual reality (VR) experiences are quickly becoming as important to the industry as videogames. It announced the funding today.

To date, the company has managed to raise over $100 million from a variety of investors and with the latest investment from Disney, the company states that they will use the money to advance its hardware and software. It’s been used to shoot everything from concerts to adventure sports to short narrative stories. After April’s catastrophic quake in Nepal, a dramatic VR film shot by the media company RYOT and narrated by Susan Sarandon showcased the medium’s storytelling potential by letting viewers see the impact of the disaster on the Himalayan nation. According to Christensen, that project was unrelated to the new funding.

Jaunt said the new funding will let it scale up VR production and advance its professional-grade camera hardware and software production tools. Now entertainment companies are also staking claims. It expects more hiring at its Palo Alto headquarters and at a newly opened studio in Los Angeles.

The video “puts you in Damascus”, Christensen said.

Until that glimpse of magic grows to be a two-hour, star-studded film, Mr. Christensen is hopeful that virtual reality will evolve on the big screen and become a normal part of our daily lives, as most technology has already proved itself to be. “They need to get a lot lighter” he reportedly sayd. Jaunt declined to disclose its valuation.

Launched in 2013, Jaunt has continuously been offering virtual reality products that have captured the attention of production companies, print publications and even global airlines.

Jaunt leads the industry in innovation through its unrivaled end-to-end solution for creating and distributing premium live-action VR.

“I find virtual reality to be the most compelling new visual medium to come onto the entertainment landscape in my lifetime”, Evolution Media co-managing partner Rick Hess told The Journal. Jaunt, with about 60 employees, leases to filmmakers a spherical 24-lens camera for thousands of dollars a day and then stitches the different lenses’ footage into a single image. “It’s truly objective. There’s no filter between you and what’s going on”.