A frequently recurring theme of virtual reality conversations is the question of a centralized distribution. I had the opportunity to sit down with Matthew Griffiths to discuss his solution here at the 2015 Tribeca Film Festival. Matthew is the CEO at Eevo. Last week, Eevo told UploadVR that they have successfully raised $1 million in angel funding “to bring you the best content virtual reality has to offer.” The money will help support a content development fund for producers of “high end VR content.” Here’s what he had to say about his company and their newfound funding.
How would you describe Eevo?
The movie theater for VR film. A single place to find the best and newest in VR.
How did you and the team come up with the concept?
I came up with the idea in my friend’s dorm room one night watching a first person view from a GoPro of someone skating down this massive road in LA. I was just thinking how disappointing it was that this point of view couldn’t be more immersive… I had just seen the Kickstarter for Oculus and remembered seeing 360 videos a few times. I figured the two would go together well. I started doing some research into what was happening in terms of hosting and there was nothing in regards to VR. So i played around with the concept for a few months, until I found the route we are taking now. High end, producer uploads only, the best of VR in one place for every headset.
Which narrative VR pieces have caught your eye?
We all wear a lot of hats at Eevo. One of my main jobs is content. I do pitch meetings and watch demo content on a regular basis. My favorite projects so far have been Chris Milk’s Evolution of Verse, Felix and Paul’s Wild, Interstellar from FrameStore, and Jaunt’s NorthFace experience. I’m a fan of the aerial shots they did.
What can you tell us about the roll-out plans for Eevo?
Eevo will come out as its pieces are perfected. We’re going to be launching on the gear VR within the next month, along with Android. About a month later we will launch on iPhone. After that; Oculus, Vive, and Morpheus. No time line on those yet, as we have to play on the headset makers schedule
Can you share your pricing model and how you’ll be working with producers?
We are still deciding on pricing for our subscription model, but it will be around $7.99 a month. We then do a 70/30 split (after recouping minimum guarantees) on all revenue. Producers’ revenue share is determined by the proportion of time their content is streamed in relation to total content streamed on Eevo. For example, if one piece of content makes up 5% of all streaming traffic on the platform, the producer will receive 70% of 5% of the site’s revenue.
What do you think the narrative VR landscape will look like in 12-18 months?
It’s going to be quite amazing. I believe narrative storytelling is one the strongest futures for VR and I hope there will be at least 100 films worth watching in the next 18 months. I imagine there will be a very nice balance of longer form content, around 25-40 minutes, and short episodic content, which generation Z is all about.
How can VR creators apply for the Eevo content fund you just announced?
Our approach is that VR is complex and incredibly difficult to get right. Because of this, we are going directly to production studios with the resources and minds to create the future of this new medium. We want to partner with people who have the tools, who have done the thinking, and who have invested their futures in VR filmmaking. We welcome people reaching out to us to partner and build our ecosystem of creative professionals, but we are very selective about who we work with.