While the Netflix Gear VR application opened the virtual reality doors to the streaming service, Netflix are still not convinced that their business model has a place for exclusive VR content.
According to CEO and co-founder Reed Hastings, exclusive VR content and 360-degree videos aren’t on the company’s agenda, despite the development of a virtual home cinema to watch all of the content available on Netflix. Hastings state that Netflix do not see the audience requirement for the actual content itself to be created in VR.
“We are really focused on movies and TV shows, doing more of those, which you can watch in a virtual reality headset if you want to. But we think most people will watch Netflix on a smartphone or a smart TV.”
VP of Product Innovation at Netflix, Chris Jaffe, appears to have a more open mind to adopting VR in its content library but is certainly non-committal. It appears Netflix are very much waiting to see how the adoption of virtual reality plays out and follow suit, rather than be at the forefront of VR to make sure that its investments are put in the right place.