According to reports, following Ren Lifeng, the head of Watermelon Video, Song Binghua, the head of Douyin Variety Show, and Wu Zuomin, director of Douyin Entertainment, are about to be transferred to the VR product department, which also indicates that ByteDance will begin to increase investment in the field of VR content.
It is understood that Pico is a VR hardware manufacturer born in 2015 and was acquired by ByteDance for billions of dollars last September. The previous official internal letter said that Pico will be merged into ByteDance's VR-related business, integrate Byte's content resources and technical capabilities, and increase investment in product research and development and developer ecology.
In addition to increasing the investment of personnel, ByteDance is also strengthening the marketing promotion of Pico, the most obvious manifestation of which is that the number of Pico publicity videos on Douyin has begun to increase. According to a number of people familiar with the matter, as of 2021, the Pico series of products has sold a total of about 500,000 units, and the team's sales target for 2022 is about one million units.
In addition, the total number of Pico's team has risen from 200 in September 2021 to more than 300, which is also ByteDance's business that will expand its enrollment on a large scale in addition to Feishu and e-commerce. According to the domestic market survey IDC report, in 2021, Pico's domestic market share will exceed 50%, ranking first, followed by Dapeng VR, iQiyi VR and HTC VIVE.