This story was delivered to BI Intelligence "Digital Media Industry Insider" subscribers. To learn more and subscribe, please click here.

The New York Times is incorporating virtual reality into the future of its content.

The media giant detailed the importance of VR as a key component of its strategic growth during its NewFronts presentation earlier this week, according to the Hollywood Reporter.

The Times started creating VR editorial and branded content in 2015, but the company intends to expand its VR distribution beyond its own mobile VR app and onto dedicated VR platforms. It also plans to significantly increase its VR output across all of its properties.

This move is unsurprising, as the Times has a history of intense VR promotion. When it launched its mobile VR app, the Times sent one million Google Cardboard VR headsets to its Sunday subscribers. The publisher also announced last week that it would send an additional 300,000 such headsets to select digital subscribers.

But it's not just the Times. The Wall Street Journal, Associated Press, and CNN have each debuted some form of VR content, and many publishers are ramping up their offerings this year before the release of high-end VR headsets from Oculus, Steam, and Sony.

It might seem a bit early for such aggressive action from traditional media outlets, but there is a strategy in place here. First, the publishers do not want to be behind the times and miss out on audiences and ad revenue. Consider how publishers were slow to shift to mobile and you'll understand this mentality.

Second, VR offers innovative and immersive branded content opportunities. The Times, for example, has created some VR videos for major advertisers such as Mini and Tag Heuer that have obtained more viewers than some non-branded VR content, reports AdWeek.

Furthermore, the Times has created a new division called StoryX that assists the editorial team and advertisers in creating content for new technology such as VR and AR (augmented reality).

The tech industry has promoted the prospect of VR for the past few decades. But only now, with headsets backed by big names like Sony and Facebook, is VR finally becoming a concrete product with mass market potential. While VR technology is largely associated with the gaming industry, the platform offers a new set of content opportunities in entertainment, advertising, and more.

But where is it all going?

Margaret Boland, research analyst for BI Intelligence, Business Insider's premium research service, has compiled a detailed report on virtual reality content that examines how various VR headset categories will shape VR content development and looks at the trajectory for mobile gaming revenues to get a sense of how spending on VR content might develop. The report also lays out what types of content users and developers can expect on VR platforms, including gaming, video entertainment, and advertising.

BI Intelligence

Here are some key takeaways from the report:

VR headset manufacturers are driving both the development and distribution of VR content by investing significant technical and monetary resources in developers, in an effort to build up an exclusive content library.

High demand for VR headsets by mobile and console gamers will fuel demand for VR content. The VR content market will take an increasing portion of the mobile gaming software industry.

Beyond gaming, VR video entertainment will remain short form until demand for VR headsets increases.

Ads featured on VR headsets will likely have higher view-through rates than standard video ad spots.

Other industries are also beginning to experiment with VR content. Travel companies, publishers, e-commerce merchants, and social platforms are beginning to see potential in this new category.

VR content faces major hurdles that could keep developers from investing: The VR experience must be good enough for people to take up the devices. In addition, developers need to know that a sufficient user base exists to be worthy of the resource investment in VR content.

In full, the report:

Provides a breakdown of each type of VR headset, what platforms they run on, and how content will differ for each.

Includes estimates for global VR headset shipments by category.

Includes a mobile gaming forecast to give a sense of the most important market that will drive spending on VR content in the next five years.

Lays out what other industries are developing VR programs.

Discusses some of the potential barriers that could dissuade developers from investing in VR content.

To get your copy of this invaluable guide to the VR universe, choose one of these options:

Subscribe to an ALL-ACCESS Membership with BI Intelligence and gain immediate access to this report AND over 100 other expertly researched deep-dive reports, subscriptions to all of our daily newsletters, and much more. >> START A MEMBERSHIP Purchase the report and download it immediately from our research store. >> BUY THE REPORT

The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of the world of VR.