How Virtual Reality Could Revolutionize Ads in the Sports Industry

From front row views during fashion week runways to 360-degree city tours, virtual reality is revolutionizing the way consumers experience video content. And, thanks to die-hard fans who can't get enough of their favorite teams, the technology is especially poised to benefit the sports industry as it develops into a polished medium. But it's not just viewers getting in on the game. Brad Allen, executive chairman of NextVR, explained the technology can present new ad opportunities including sponsored camera angles you can't even get from your stadium seat. It also opens up ways for brands to get in front of the eyeballs they desire -- literally.

"We know where you're looking, what you're seeing and what you're focusing on," Allen explained. "It could influence where you put the advertising or project things." For example, NextVR created a viewing heat map for the pre-season Miami Heat, Cleveland Cavaliers basketball game in Rio De Janeiro in October. It noticed the highest concentrations of red -- where people were most focused -- were around where LeBron James was on the court. Theoretically, Allen said, advertisers could use this knowledge to buy that specific space and then insert a digital ad. With analysts predicting 12.2 million sets to be sold in 2016, the medium is quickly becoming mainstream. Advertisers, programmers and fans will all be watching, virtually and practically.