Verizon provided a glimpse into how it plans to use 5G to revive its ailing digital media business, unveiling new AR and extended reality (XR) content projects which will be produced at a 5G studio in Los Angeles. Speaking at an event in New York City, Verizon CEO Hans Vestberg (pictured) said there should be “no doubt about our commitment to Verizon Media and how it fits into our overall strategy”. “We have assets that few others have, and Verizon Media group plays a vital role for us with over-the-top content, the ad platform and great people that are innovating everyday.” As examples of how it sees the future of content, the company showcased a new shopping series called Hypezilla, which allows users to try out products via AR, and announced a collaboration with top publishers including The Associated Press, Reuters and TIME to produce immersive news experiences using XR. Charity Elder, head of audio and video for Verizon’s Yahoo News brand, called the latter a “groundbreaking journalism alliance”, which will “develop and aggregate next gen experiential content…to deepen understanding of the important issues of our times”. The push to 5G-enabled experiences comes as Verizon looks to revitalise its struggling media business, which has been a sore point for the company over the past several quarters, and expands its 5G deployments across the country. In December 2018, Verizon drastically cut the media unit’s value and in January laid off nearly 800 employees from the division, causing speculation about its future.
Verizon will use 5G technology to launch AR and extended reality (Reuters) content projects, as it seeks to revitalise its struggling media unit. The projects include Hypezilla, a shopping series which allows customers to try on products using an AR system. Verizon will also collaborate with The Associated Press, XR and Time to offer immersive news experiences using Reuters technology.