How emerging virtual technology could change the movie industry

Virtual reality, the emerging technology that is poised to transform video gaming, is also coming to the movies. Here at Sundance 2016, more VR experiences than ever are being showcased as part of the film's festival which celebrates new or alternative forms of creative expression.

Ramzi Haidamus, president of Nokia Technologies, says the development of VR for filmmakers has been a long time in the works. He recently spearheaded OZO, the first virtual-reality camera designed specifically for Hollywood-grade filmmakers. Haidamus has been experimenting with virtual reality for years and says the technology is making huge strides.

"I couldn't jump," Haidamus said after trying out "The Climb." He credits audiences' hunger to be closely connected to stories and VR's appealing price point as being a "perfect storm" for the technology this year.

After several years of breathless hype, the Oculus Rift, a $600 virtual-reality headset designed for consumers, arrives in March, joining the Samsung Gear VR and other products already on the market. These headsets allow wearers to see lifelike, immersive 3-D imagery in all directions, making them feel like they are part of the scene they are viewing.

Gasking believes that making VR affordable is key to helping the technology catch on with filmmakers.

"Four years ago the price of a pair of headsets were $40,000. And four years later you can use a Google cardboard or the like to watch these sorts of experiences. That's an incredible change," he said.

"With a much cheaper price tag, filmmakers are finally getting the tools that they need to experiment with VR."

Meanwhile, movie ticket sales in North America have been flattening amid fierce competition from streaming services such as Netflix, making Hollywood eager to develop technologies to excite moviegoers.

"The industry needs a new way (for moviegoers) to consume more immersive content without having to go to a theater," Haidamus said, adding that film studios are partnering with companies like Nokia to make VR content.

Through such partnerships, film studios can share an entirely new experiences with their traditional audiences by taking them as close to the story as possible. All the user has to do is buy a pair of VR goggles and download content, which can be viewed in the comfort of their own home.

8i's executive creative director Rainer Gombos won an Emmy award for his visual effects work on HBO's "Games of Thrones" and said that from a filmmaker's perspective, VR expands the possibilities of storytelling.

"You can immerse the viewer into worlds -- artificial or reality-like worlds -- that you couldn't do before," Gombos said. VR is also groundbreaking for the viewer, he said. "You can move around in the scene and look around at things from different angles. You can tell stories. You can entertain. You can have people experience larger-than-life events."