Virtual Reality Lures Media Companies to a New Frontier - The New York Times

Also see Studio 360: The pioneers who are making the first virtual-reality narratives (The New Yorker)

"“Not a single media company isn’t thinking about what happens when the rectangle goes away,” said Jules Urbach, 41, the founder of Otoy, referring to a future when videos are experienced in virtual reality rather than watched on screens. “Everyone needs a strategy.”

Otoy, whose name is short for “online toy,” lets people capture virtual reality video, process it and then distribute it to viewers with its technology. Otoy also makes a virtual reality player that is free to download; the company wants to become the open standard for virtual reality distribution."

Virtual Reality Lures Media Companies to a New Frontier - The New York Times