Samsung is expanding its foray into virtual reality with the promise of a VR movie studio in New York City.

Marc Mathieu, chief marketing officer of Samsung Electronics, announced the initiative at the Sundance Film Festival this weekend, a move that could mean big things for VR in the film industry.

More than 30 VR projects are being showcased at Sundance this year, and with the backing of a large company, VR movie production could see a big increase soon, the report noted. Samsung is jumping into VR production at a time when no major film studios openly working on VR movies, and if there’s any success, we could see other major companies following suit.

See also: How virtual reality will grow in 2016

Along with its new studio, Samsung also announced a year-long partnership with the Sundance Institute.

"At Samsung, we are making VR more accessible by partnering with the best in the industry to deliver a growing library of engaging, rich content," Mathieu said in a statement.

One of Samsung’s hurdles for getting into the VR movie business is that virtual reality still hasn’t hit its stride. Many devices have yet to reach the commercial market, and some are asking for a pretty hefty price, such as the $599 Oculus Rift.

Samsung has its own virtual reality headset, the Gear VR, which uses the Samsung Galaxy S6, S6 Edge, S6 Edge+ and Note5 phones for its display. The Gear VR will undoubtedly be Samsung's focus, which runs apps downloaded from the Oculus Store or Milk VR store. At only $99.99, it’s a much more accessible piece of hardware than some other VR headsets, especially if you already own one of Samsung’s compatible phones. The question is whether Samsung’s bet will really take off.

There’s a chance that if virtual reality movies succeed, they could change the way we interact with films in theaters. Potentially, having a 360 degree view of a movie could even eliminate the need for the big screen experience — but let's not get too far ahead of ourselves just yet.