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Disney Invests $65 Million In Jaunt, Prepares For Rise In Virtual Reality Entertainment

By Val Powell
Published on: 22:12 PST, Sep 23, 2015

Virtual reality is shaping up to be the next big thing, not just in gaming but also in the way we will soon watch our movies and TV shows. Disney – proving its pioneer vision yet again – is getting in early in the game.

Disney is starting to flex its muscles in the virtual reality field, dropping a $65 million investment into Jaunt, a Palo-Alto based start-up that specializes in creating virtual reality software and hardware, as well as content for this new medium.

The eye-popping amount quickly boosted Jaunt’s fundraising efforts to $100 million. The company is in the throes of expansion – having just opened a production studio in Los Angeles – and plans to use the funds it has collected to increase its staff and boost its “cinematic VR” output to meet the expected demands for virtual reality content.

Jaunt’s planned expansion also makes room for the production of high-end cameras and lenses that cost ten thousand dollars or more but which can capture 360-degree scenes. The company also makes custom software that mixes multiple camera feeds into one file that can be viewed through a VR headset or a smartphone.

According to Jaunt’s CEO and co-founder Jens Christensen, the newest round of investments reflect their “commitment and dedication to advancing the scope of cinematic virtual reality for filmmakers, storytellers and audiences alike.”

“With the support of these world-class companies, we will explore new avenues, building on our leadership position to deliver amazing VR experiences using best-in-class tools, technology, and creative teams,” Christensen added.

The CEO also pointed out that a Disney virtual reality partnership makes perfect sense, given the company’s history of always being “at the forefront of technology,” starting with its cartoons and continuing with its theme parks that have always been noted for its immersive capacity.

Kevin Mayer, Disney’s senior executive vice president and chief strategy officer, lent truth to that statement when he acknowledged that Jaunt’s standing as a leader in cinematic virtual reality will also give Disney the opportunity to utilize this new medium in all its entertainment sectors.

Aside from Disney, other companies that have also invested in Jaunt are the state-backed investment fund China Media Capital, the talent agency joint venture Evolution Media Partners and European media companies like ProSiebenSat.1, Axel Springer and Sky.

Unlike other virtual reality companies that worked with gaming developers, Jaunt has focused more on developing media content since its inception in 2013. The company has worked with musicians like Jack White and Sir Paul McCartney, as well as on an up-close and personal recording of The Beatles performing Live and Let Die in San Francisco. Jaunt had previously worked with the producers of The Hobbit films and with the magazine Elle.

Most recently, the company teamed up with Disney-owned ABC to produce a virtual-reality news report of the recent events in Syria.

[Image via Fortune]

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