With access to real-world destinations limited during the pandemic, consumers are spending more time escaping into virtual reality.
Among VR headset owners, roughly seven in 10 (71%) have spent more time using their device as a result of COVID-19, and VR is far from a solitary activity. VR Chat and Rec Room, which are virtual social spaces, are some of the most popular VR apps on PC.
Brands wouldn’t need a long-term strategy around virtual gatherings if people stopped attending them once it was safe to resume in-person events, but all signs point to increased virtual socialization being here to stay.
In its second-quarter 2020 earnings call, Activision Blizzard revealed that gamers continued to play hardcore, online games at higher levels even as lockdowns eased.
Venture capitalists are also bullish on the outlook for virtual events. The Wave, a platform for live virtual concerts, raised a $30 million funding round in June 2020. Read the rest at Nielsen.