Verizon’s AOL Acquires RYOT (A Virtual Reality Video Specialist)
A Step In The Right Direction For Verizon
Verizon Communications Inc. subdivision AOL has agreed to purchase Virtual Reality and 360-degree video organization RYOT Corporation. The organizations announced Wednesday. Monetary terms of the arrangement were not unveiled. The procurement comes as marketers and digital media companies are investing intensely in virtual reality and 360-degree video to distribute to platforms, for example, Facebook, YouTube, and Snapchat, in addition to their owned-and-operated features. RYOT and its 25 staff members will become a new unit under AOL’s The Huffington Post, and will likewise work with different publications throughout AOL’s portfolio of properties which includes TechCrunch, Engadget, and Autoblog. RYOT’s capacities and services will likewise be offered to customers of AOL’s Partner Studio division, which makes branded substance for marketers.
“RYOT will be wоrking on big editorial рrоjесtѕ, additionally with brands. It will work across all thаt wе are trуing to dо in The Huffington Pоѕt,” ѕаid Arianna Huffington, co-founder and the editor-in-chief of ‘The Huffington Post’. Huffington Post CEO Jared Grusd said RYOT could likewise give content to platforms possessed by AOL-guardian Verizon, including its video application go90. RYOT started life as a news-focused site covering stories “where each story could have an activity connected with it,” according to its founder, Bryn Mooser.
What To Expect From Them
In the last two years, the organization has specialized in virtual reality and 360-degree video production, creating content in conjunction with publishers, brands, and non-benefits, and also directing content to its personal properties and social channels. RYOT worked with The Huffington Post a year ago to create a VR video called “The Crossing,” for instance, which chronicled the famous refugee crisis in Greece. It likewise cooperated with The New York Times and the Associated Press.
“Our focus has been on 360-degree and VR video because you can really bring people inside the story. Now we’re bringing that storytelling and technology expertise to the entire audience of the Huffington Post,” Mr. Mooser said. On the marketer side, RYOT was inaugurated by Walgreens to document its work with non-profitable NGO Vitamin Angels, and by PepsiCo to create content about the beverage industry’s recycling activities in some parts of Central America. Most of the organization’s income to date has originated from its work with brands. As indicated by Mr. Grusd, Huffington Post was lured to RYOT basically by its editorial mission and approach. “There are obviously a lot of VR companies in the entire globe, and the idea of producing this kind of content is one that’s gaining interest. “Our goal was not just to procure a production studio, but to find one that shows interest in our mission,” he said. “The relationship between the RYOT group and the Huffington Post group have been really tight in the past few months. We’ve worked with them and it truly felt like the right procurement for us,” Ms. Huffington added.