Liquid Media to Add More Virtual Reality Content to Streaming Platform in Partnership with YDX Innovation

VANCOUVER, British Columbia, July 30, 2020 (GLOBE NEWSWIRE) -- Liquid Media Group Ltd. (the “Company”, “Liquid Media” or “Liquid”) (Nasdaq: YVR) is pleased to announce an extension of its partnership with YDX Innovation Corp. (“YDX”) to provide virtual reality (VR) content for Liquid’s Reelhouse streaming platform. 

“We believe Reelhouse is in a unique position to be one of the main streaming platforms for VR films and experiences, direct to consumers,” said Daniel Japiassu, CEO of YDX Innovation. “Right now, access to VR films is mostly done in location-based centers or at film festivals like Venice, Cannes or TIFF. YDX is immersed in the VR community, and can provide great content to Reelhouse VR. We see this as an opportunity to strengthen our relationship with Liquid, a company that we love to work with, while bringing innovative stories to audiences.”

An established Liquid collaborator and pioneer in the VR space, YDX will bring their expertise to content selection and creation, to develop a growing pipeline of VR films and experiences for Reelhouse VR.  Through the expanded partnership, and using many of the most popular headsets, Liquid expects to make a growing selection of VR films available for consumers to experience. An early pioneer in bringing VR films to streaming platforms, Reelhouse VR is well positioned to deliver great content to a global audience in the face of increasing demand.

“Expanding our content offering is of central importance as we continue to advance our streaming platform, and we want to meet people where they live. Beyond the immediate excitement around bringing engaging content to the market, we see VR playing a larger role as consumers demand better and more diverse content to consume from home,” said Joshua Jackson, Chairman of Liquid. “Daniel and the entire YDX team are proven partners, and we look forward to building a robust pipeline of best-in-class VR.”

The global VR market is expected to reach USD$61 billion by 2027, driven in large part by adoption into more traditional entertainment venues such as theaters, and due to increasing use across gaming and esports. Enterprise adoption remains a principal factor, reinforcing familiarity with the technology. Facebook, the market leader in VR headsets, recently announced a ramp up of its Oculus VR headsets by up to 50% this year, on the back of surging revenue associated with Oculus and Portal devices. With an estimated one-third of the world’s population subject to some form of lockdown, historical barriers to entry for consumers are being removed.