Estimated reading time: 1 minute, 29 seconds

As Meta Renews Ad Blitz, Is VR Real Yet for Marketers?

Virtual reality isn’t futuristic, it’s already here, and it’s routine. That’s the gist of Meta Platforms’ latest advertising campaign, in contrast with the sci-fi metaverse of previous pushes, as The Wall Street Journal reports.

MetaCalled “The Impact Is Real,” the ad blitz includes a video that shows welders, doctors and a UK soccer player all using VR to help them get better at their jobs. The U.S. and European campaign was headed to TV, podcasts, email newsletters and print.

Meta executives told The Journal that while many still think of VR as simply for gamers, the company hopes that executives and others will see that the technology has by now become vital in the workplace.

Other marketers may not be so enthused. After Apple announced its new augmented reality headset, Vision Pro, leaders from Tetris, Sprite, Hasbro, and other brands said they were taking a wait-and-see approach, as Digiday reports. Burned by expenditures on NFTs and the metaverse, they are erring on the side of patience rather than repeating their mistake in an uncertain economy.

Data analytics platform Statista has projected that the global AR and VR market will hit $269.9 billion by 2024. The current market is almost 10 times bigger than its 2021 level of $30.7 billion.

The Drum reports an increase in ads that rely on smartphones to serve AR ads. Adam Shlachter, head of marketing at Niantic, a software developer that makes such ads, touts “rewarded” AR ads. He says that interactive branded experiences where users can access rewards inside games like Pokémon Go work especially well in physical locations, such as the Cannes Lions festival.

One brand using Niantic’s Rewarded Ads is Circle K. The convenience-store brand showed Pokémon Go players an in-game ad with an interactive 3D coffee cup.

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