Just over a year after opening, Oculus is closing down its Oculus Story Studio - the film division of the VR company. Jason Rubin, Facebook's VP of Content, announced the news in a blog post.
Rubin said that Oculus has "decided to shift [its] focus away from internal content creation to support more external production", adding that the company will continue funding third-party filmmakers' VR projects instead. The company promised $250 million to developers, and will now dosh out $50 million for non-gaming VR experiences.
Oculus Story Studio made some great VR content in its short life, with Henry winning an Emmy for outstanding Original Interactive Program - something both my young daughters positively loved. Oculus will continue to pump out "video tutorials, production and distribution tips, as well as best practices for VR development. It will also provide developers chances to connect with other creators and bigwigs in the industry", reports Engadget.