VR News: Facebook to Shut Down Oculus Story Studio

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Facebook, Inc. (NASDAQ:FB) announced plans to shutter the doors of its Oculus Story Studio on Thursday.

Oculus Story Studio

Dear Angelica and Henry are among the short films produced by the studio, which created virtual-reality films for consumers to enjoy. The Oculus Story Studio has 50 employees who are being encouraged to apply to other areas of Oculus.

“We’ve been looking at the best way to allocate our resources to create an impact on the ecosystem,” said Oculus VP of Content Jason Rubin in a blog post. “After careful consideration, we’ve decided to shift our focus away from internal content creation to support more external production. As part of that shift, we’ll be winding down Story Studio.”

The studio has been around since early 2017 when the company first unveiled Lost, the first narrative video from Oculus Story Studio. The follow-up to Lost was even more successful with Henry, which was a virtual-reality short starring a hedgehog.

The latter video won the company an Emmy for Outstanding Original Interactive Program later that year. The 2017 video that caught everyone’s attention from the studio was Dear Angelica, which was animated entirely within VR and it had Geena Davis as the voice character of one of the story’s two protagonists.

FB stock fell 0.4% Friday afternoon.


Article printed from InvestorPlace Media, https://investorplace.com/2017/05/oculus-story-studio-vr-facebook/.

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