The two will raise a 50-50 fund to create pilot content during the first half of this year, Lee Sang-Min, senior managing director at LG U+ told reports at the CES 2019 trade show on Thursday.
Under the agreement, LG U+ will be responsible for content production and planning, while owning the content and rights to distribute it domestically. Google will have global distribution rights through YouTube. Target VR content includes daily activities of star performers, performance and backstage tour and tour to stars’ residence. Other candidates are VR movies, tourism attractions, global performances, interactive games and VR webtoons.
The agreement represents the combination of Google’s ambition to continue its success in video streaming through 5G and LG U+’ commitment to differentiated value proposition in 5G with VR content, said Lee.
LG U+ is reportedly in talks with a global vendor for the supply of headsets needed to enjoy VR content.