ReelTime, the leader in the production and distribution of Virtual Reality Content worldwide, announced that it has completed a transaction with Media Funding Group (MFG). MFG has invested 2 million dollars of media inventory specifically to be used for national and local advertising placements.
The investment was in exchange for a combination of stock at a premium to the market.
Media Funding Group provides alternative finance and venture capital funding for large-scale national advertising campaigns serving qualified retail distributed and direct response product manufacturers with the advertising investment needed to drive sales and increase profitability.
Marc Hatch, MFG CMO, stated: “Once people become aware of the ReelTime VR experience and actually use the app they are blown away. ReelTime VR is changing not only what people think of Virtual Reality but literally revolutionizes the digital media space. This is the most significant shift in communications since the Internet and mobile phones. We are thrilled to have been able to make this investment at a time where people will be able to experience ReelTime VR for the first time. We are thrilled to have been able to provide this infusion and are confident that it will have measurable results.”
James Hodges, ReelTime CEO, stated: MFG has a very strong history of not only investing into emerging companies but in dramatically impacting the companies it is involved with. We will be starting media placements immediately focused initially on our ReelTime VR app. It is the ability to dramatically improve companies’ bottom lines and the connections that MFG has built over decades that attracted us to them for this investment.
ReelTime VR, which is available now to nearly 2 billion devices worldwide for iPhone, Android, and Blackberry devices, is the most technologically advanced and the most creative Virtual Reality content to be released to the public to date. ReelTime VR has not only set the bar for virtual reality content but is the only company to offer a complete end-to-end solution.
The free application and content can be viewed for free with or without a virtual reality headset using most smartphones worldwide. The user is immersed in a 360 degree viewing experience, allowing them to look up, down, and all around as if they were standing right there. Breakout Country Music artist Megs McLean and ReelTime gave Taylor Swift concert attendees a special look into ReelTime VR during her performance at the concert in Seattle. The concert attendees were able to view “Virtually Me,” a revolutionary documentary shot in full 360 virtual reality which is featured on the ReelTime VR app. Allowing users to stand in studio with Megs while she records her breakout single “It’s My Truck” with Drumming Legend Ben Smith of “Heart” and producer Geoff Ott at world renowned London Bridge Studio.
The ReelTime VR production of Megs’ “Virtually Me” is the most sophisticated and enduring virtual reality content to date. Unlike lesser quality productions that utilize consumer Go Pro cameras providing lower picture quality and awkward movement, “Virtually Me” was produced with a proprietary system and shot with 361VR using Red Dragon Cameras. Compared to other applications such as the Samsung Gear VR, which can only be used in conjunction with a Samsung Galaxy Note 4, ReelTime VR is available to most smartphones worldwide and can be used with any phone based VR headset. The ReelTime VR platform also outperforms Oculus Rift in every aspect including quality, price, and entertainment. Oculus Rift is still a gaming peripheral, requiring an expensive technologically advanced PC system that it must be plugged into for use. Oculus Rift is also not usable on smart phones and will not work outside of its controlled environment where it must utilize content specifically designed for that platform. This significantly restricts its access to content developed by third parties and limits entertainment options provided to users. Oculus Rift is set to be released sometime next year, and was recently purchased by Facebook for reportedly 2 billion dollars. ReelTime VR is available to the public now, can seamlessly adapt any content shot to standards, allow distribution of content shot by third parties and provides an improved user experience. ReelTime VR is a free application that also provides an end-to-end solution for studios and other production houses.