V1 Group Limited Releases “Durian VR”, the First VR Platform in China

1 Oct

V1 Group Limited joined with China Arab TV (“CATV”) to releases the first paid VR platform “ Durian VR” in China. The Chairman of V1 Group, Mr. Zhang Lijun indicated that Durian VR will have three core properties, which are original production, live broadcasting and paid- for- viewing. Meanwhile, the application will seek for more social capitals, industry funds and crowd funding to support the original production of VR.

Durian VR will, on the basis of providing VR viewing services to users for free, focus on VR original production and implement paid for viewings on selected original productions to continually develop VR live broadcasting. The application will cover VR + travels, VR + news, VR+ beauties and VR+ artists.

The New Media CEO of V1 Group Limited, Ms. Chen Zhuoya stated that first-rate contents with user charge has passed the learning period in China. As this kind of paid- for-viewing mode has become fairly mature in the new media video industry, the types of content offered to consumers is important. It was learned that the user charge methods of Durian VR mainly include payments for original production + PGC contents, VR hardware + memberships, online/offline VR equipment rentals as well as advertisement placements.

In the same time, V1 Group Limited announced that it will team up with Sitar Tan to build the first large VR outdoor concert in China; meanwhile, an entertainment center will also be built to focus on developing VR+ artists and concert copyrights. During the press events, V1 Group Limited also announced the “R” strategy that includes emerging technologies such as VR, AR and MR. According to the data from iResearch, there are currently 1.425 Million VR users across China. That figure will likely increase to around 25.335 Million by 2020. Although the future of VR market is bright, Durian will still need to offer strong and interesting VR content to users in order to succeed in the future.

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