Including VR in its annual Entertainment & Media Outlook forecast for the first time, PwC predicts a growth rate of 64 percent annually for the next five years, with VR becoming a $5 billion industry in the U.S. by 2021. It will generate almost half as much as the box office, which will grow at a minuscule 1.2 percent to $11.2 billion in that time frame.
While video games are considered the low-hanging fruit of VR because the technology should vastly improve on an already established interactive experience, video ultimately will be the bigger business, according to PwC...[continue reading]