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Youku Tudou to establish a VR ecosystem

Li Jie, senior vice president of Youku Tudou, announced the company’s VR plan for the first time at the Virtual Reality/Augmented Reality (AR/VR) Summit of the Global Technology Innovation Conference (GTIC) held in Beijing on Saturday.

Li said that Youku Tudou had considered two years ago whether VR or AR technology would make drastic changes to video streaming platforms in China. The VR plan he revealed will be aimed at building an ecosystem for the VR industry.

Li Jie, senior vice president of Youku Tudou.Photo from zhidx.com

Li said that they will focus more on VR content than on VR devices. He also said it’s not wise for all investors and companies to invest in VR devices due to the fierce market competition in this area.

“Now at the initial stage of the VR industry, 52% of China’s venture capital related to VR is being used for producing VR devices and only 10% is being used for providing content,” said Li. “It is fair to say that we are lacking enough resources allocated to developing quality content and enriching the user’s VR experience. ”

He disclosed that Youku Tudou will exploit VR content and take advantage of the company’s core competitive edge in VR video coding, immersive 3D cinema-like experience and eye tracking technology.

“This May, Youku Tudou will release a five-year VR strategic map together with its parent company, Alibaba, in Shanghai,” said Li at the end of his speech.

At the conference, Bao Yongzhe, the vice president of HTC’s VR department, described HTC’s human-machine interactive pattern, in which a 3D positioning system with high precision is available. He also stressed the golden opportunities in the booming VR field.

Bao delivered a speech at the conference.Photo from AllChinaTech

“Now every company running a VR business has a chance to stand out in the industry, and only those who have a deep sense of innovation and a quick response for updating products or services can get the upper hand of market rivals,” said Bao.

Li Qiang, the vice president of LeEco’s new technology research and development department, also said that LeEco has implemented a VR global strategy, with hopes to promote the healthy development of the VR industry. LeEco has cooperated with content providers in many countries including America, Australia and China, and has set up a VR research center in Silicon Valley.

(Top photo from zhidx.com)

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